QBiz: RBI Hikes Repo Rates; 7 India Firms in Fortune 500 – The Quint

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  • Last Updated on 27 October, 2020
Government Collects Rs 96,483-Crore GST For June:
 
Goods and Services Tax (GST) collections rose to Rs 96,483 crore in July, from Rs 95,610 crore in the previous month, on improved compliance post implementation of the e-way bill. As many as 66 lakh businesses filed returns last month, making it the highest number of monthly Goods and Service Tax Returns-3B (GSTR) filed since the rollout of GST in July last year.
 
In the current fiscal, the month-wise revenue mopped up from GST stood at Rs 1.03 lakh crore in April, Rs 94,016 crore in May and Rs 95,610 crore in June. As many as 60.47 lakh returns were filed in April, 62.47 lakh in May, 64.69 lakh in June.
 
“GST revenue collections are improving after implementation of e-way bill which is a major tool under GST to curb tax evasion. However the government is still short of average monthly target of revenue fixed in Budget of 2018-19,” Taxmann DGM Vishal Raheja said.

 
 
Read the full story here: RBI Hikes Repo Rates, Taxmann

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