Data: Amount of fake ITC under GST increased to 1.5% of total GST collection in 2020-21
Input Tax Credit (ITC) is an important feature of the Goods & Services Tax regime…
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Data: Excise Duty on Petrol & Diesel come to the rescue to Union Tax revenues in 2020-21
Lower tax revenues from both direct & indirect taxes were anticipated in 2020-21 because of…
Data: Utilization of ‘Cesses & Surcharges’ for the intended purpose remains a concern
As we highlighted earlier, the increase in the share of ‘Cesses & Surcharges’ in centre’s…
Data: Share of Cesses & Surcharges increase from 10.4% to 15.3% of Gross Tax Revenue in 10 years
The issue of Central Cesses has been a contentious one since the amount collected through…
GST Collections improved during July-December’2020, but still lower than estimates
The Centre’s GST collections increased during July-December’2020 coinciding with unlock phases across the country. The…
Here is how archaic Tax rule negatively affects salaried employees in cities like Bengaluru & Hyderabad
Exemptions provided in the income tax act & rules are availed by most salaried employees.…
Data: Compared to 2019, GST Collection fell by more than 25% during March to June 2020 in 27 States/UTs
COVID-19’s impact on economy is now well known. GST collection numbers from March to June…
Data: Till date, four states received about 42% of the total GST Compensation released by the Central Government
The recent remarks of the finance secretary that the central government may not be able…
Explainer: What is the National Anti-Profiteering Authority and what has it done so far?
The National Anti-Profiteering Authority was set up to ensure that the benefits of GST rate…
Data: What is the status of State’s Own Tax Revenue (SOTR) of various states?
A major part of state government’s budgetary resources come from State’s Own Tax Revenue (SOTR).…
