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- GST Tax Revenue Collection Analysis Update; 18% GST Slab | Ice Cream Pasta
New Delhi20 hours ago
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The biggest contribution to the country’s GST collection is the expenditure made by the common man on his daily needs. According to the information given by the Finance Ministry in the Lok Sabha, the contribution of 18% slab in the total GST collection is about 75%.
Under this, items like hair oil, toothpaste, ice cream, pasta, food in restaurants, cinema tickets less than Rs 100 are included. The contribution of 12% bracket in GST collection was only 5-6%. This includes ghee, processed food, mobile phones, packaged coconut water and fruit juice etc. According to the Finance Ministry, by the end of the last financial year, the average GST rate of the country came down to 11.6%.
Case filed against 17 cryptocurrency exchanges According to the information given by the government in the Lok Sabha, a case has been registered against a total of 17 cryptocurrency exchanges for theft in the country. In this, tax evasion of Rs 824 crore has been detected. Nest Services Limited alone is accused of tax evasion of more than Rs 700 crore. Out of total tax evasion, Rs 122 crore has been recovered.
Government collected ₹1.82 lakh crore from GST in November The government has collected Rs 1.82 lakh crore from GST in November 2024. There has been an increase of 8.5% on annual basis. A year ago i.e. in November 2023, the government had collected Rs 1.68 lakh crore GST. At the same time, so far in this financial year i.e. 2024-25, Rs 14.56 lakh crore has come from GST.
Recommendation to impose 35% tax on tobacco and cigarettes Tax rates can be changed in the GST Council meeting to be held in December. According to media reports, the Group of Ministers (GoM) formed to simplify the GST structure has increased the tax rate on tobacco and all tobacco products, aerated beverages (soda drink-cold drink) etc. from the existing 28% to 35%. Is recommended to do. Read full news
