Union Minister for Road, Transport and Highways, Nitin Gadkari on Thursday said that India is the fastest growing economy in the world while underscoring the need to develop industries and trade for the growth of the country.
GST council is likely to give clarity on whether tax collected at source (TCS) should be deducted by the buyer or the e-commerce platform
An official spokesperson said Punjab's GST revenue receipts in September 2021 stood at Rs 1316.51 Crore against Rs 1055.24 Crore for the same period the previous year (September 2020).
The constant increase in the collection in recent months indicates the fact that the economy is recovering at a fast pace in the State. The economic activities had borne the brunt due to the COVID-19 situation last year. The State is on the path of economic revival and the increasing GST collection is a clear indicator of it.
Mitra, who demanded for a full tax waiver on Covid-related medical supplies, said his demand for zero GST rate or a token 0.1 per cent would have enabled tax reduction to consumers as well as availability of tax credits to producers was ignored.
The measures taken by the government to check GST evasion are intelligence-based enforcement, eWay bill squads, systematic analysis of data and setting up of Directorate General (Analytics and Risk Management), the Ministry said.
The jump from 130 two years ago to 100 last year and now to 77 bears a strong testimony to the efforts taken by the government to create a very conducive business environment.
This was a marked improvement over the September GST collection (for August) which stood at Rs 94,442 crore.
In Delhi, petrol was priced at Rs 82.72 per litre, up from Rs 82.66 on Saturday, data on the Indian Oil Corporation website showed, while in Mumbai, Kolkata, and Chennai too petrol prices rose on Sunday to Rs 88.18, Rs 84.54, and Rs 85.99 per litre respectively.
He said the Goods and Services Tax (GST) had been the biggest tax reform since independence that had made the entire country into a single market and widened the tax base.
