GST mop-up rises to ₹1.5 tn in December
Mint Mumbai|January 02, 2023
Central and state governments collected €1.5 trillion in goods and services tax (GST) in December, up ₹15% from a year earlier, on higher sales of automobiles and a pick-up in services activity.
Gireesh Chandra Prasad
GST mop-up rises to ₹1.5 tn in December

NEW DELHI 

GST collections have remained above the 1.4-trillion mark for the 10th straight month, the finance ministry said in a statement on Sunday, indicating the buoyancy in indirect tax collections.

GST cess collected remained at 11,005 crore, showing strong performance of items in the 28% slab that attracts the cess, especially automobiles.

The total revenue of the Centre and the states after regular of December crore and settlements in the month stood at 63,380 and 64,451 crore, respectively, the ministry said.

During the month, revenues from the import of goods were 8% higher than what was collected from imported items at the same time a year ago, and revenue from domestic transactions, including the import of services, was 18% higher than a year earlier.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM MINT MUMBAIView all
Hypersonic weapons in the age of A!: Be careful
Mint Mumbai

Hypersonic weapons in the age of A!: Be careful

Indias hypersonic missile marks a leap and updates its nuclear deterrence. But dangers lurk in the global race for these speedy and sneaky weapons, wit/z AI -use posing new risks

time-read
1 min  |
November 19, 2024
How to make Elon Musk's budget-slashing dreams come true
Mint Mumbai

How to make Elon Musk's budget-slashing dreams come true

Any serious fiscal policies must go through Congress. That may end up being the key test of DOGE and Trump

time-read
1 min  |
November 19, 2024
BOREDOM: THE INVISIBLE CAUSE OF RISING ATTRITION
Mint Mumbai

BOREDOM: THE INVISIBLE CAUSE OF RISING ATTRITION

They deliver on the job, but many employees are just going through the motions with one eye on the exits

time-read
1 min  |
November 19, 2024
Mint Mumbai

Viksit Bharat needs big plans and coordinated action

Let's transform manufacturing and agriculture, decarbonize the economy and unleash growth led by women

time-read
3 mins  |
November 19, 2024
Indonesia will need to tread a fine line after T rump's return
Mint Mumbai

Indonesia will need to tread a fine line after T rump's return

Jez/farms relations with China mustn,t send out the wrong signals

time-read
3 mins  |
November 19, 2024
What if Donald Trump keeps his promises on economic policy?
Mint Mumbai

What if Donald Trump keeps his promises on economic policy?

The 2024 US election is one of those rare instances where there is palpable fem that the winner will actually follow through

time-read
3 mins  |
November 19, 2024
Mint Mumbai

The Indian state is still to fully unshackle our economy

Economic success needs the state to function as an enlightened referee and be less statist

time-read
3 mins  |
November 19, 2024
Mint Mumbai

Let's tackle the harsh realities of mental health at the workplace

Ensure an inclusive work environment with policies of reasonable accommodation and support

time-read
3 mins  |
November 19, 2024
Mint Mumbai

How working abroad gives young Indians a wealth edge back home

Working overseas gives them the advantage to earn in stronger currencies and benefit from exchange rates

time-read
5 mins  |
November 19, 2024
Mint Mumbai

FALLING MARKETS ARE JUST WHAT YOU NEED: HERE'S WHY

For some of you, a market downturn may be an ideal time for a complete financial reset

time-read
2 mins  |
November 19, 2024