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GST collections have grown 4.9 % Y-o-Y: RBI Monetary Policy

Friday, October 4, 2019, 12:46 PM

Despite GST collections coming at an 18 month low for the month of September 2019, the Reserve Bank of India (RBI) in its Monetary Policy Report states that there has been a modest year-on-year growth in the collection of the indirect tax. "Notwithstanding month-over-month fluctuations, the GST collections grew by 4.9 percent (Y-O-Y) during April-September 2019," said RBI.
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Under-invoicing' leading to GST evasion, claim bicycles makers

Monday, September 23, 2019, 7:28 PM

The "under-invoicing" of bicycles by some unscrupulous dealers in Ludhiana has hit the market of organised players and is also leading to GST evasion, cycle makers have claimed. Organised bicycles manufacturers said it has become difficult to hold onto their existing market because of the "rampant illegal practice of under-invoicing" taking place in Ludhiana the country's major manufacturing hub of cycles and cycle parts.
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Government expects Rs 40,000 crore GST shortfall

Monday, September 23, 2019, 10:58 AM

The government is expecting a shortfall of around Rs.40,000-crore in the GST-collections over what has been budgeted for 2019-20. This could put pressure on the compensation that states are eligible for in case the tax growth falls below 14% during the year. A source said the Centre had informed the GST-Council, about the expected shortfall at a time when economic growth has slowed down.

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