The monthly GST collection crossed Rs 1 lakh crore mark for the fifth time in a row and Rs 1.1 lakh crore mark for the third straight month.

\"Inverted duty structure is one of the top priorities of the government and is likely to be taken up by the Council in the next meeting,\" a top finance ministry official told Business Today.

The government has estimated a total gross tax collection of Rs  22.17 lakh crore in 2021-22, which is lower than last year's Budget estimates of Rs 24.23 lakh crore

Union Budget 2021 Highlights: Congress leader P. Chidambaram said that the government had only marginally raised health funding, which when adjusted to inflation becomes nil

Of the total GST collection, CGST is Rs 21,923 crore, SGST is Rs 29,014 crore, IGST is Rs 60,288 crore (including Rs 27,424 crore collected on import of goods) and Cess is Rs 8,622 crore

The inclusion of a statement on policy announcements on GST in the budget, of an intent to resolve these tax issues, will not only have a positive impact on the broader economy but also reaffirm confidence in the cooperative federalism model for tax policy

GST collections will be in the range of Rs 1.21-1.23 lakh crore and may still have an upside, according to economist at State Bank of India

Centre had planned a disinvestment mop-up of Rs 2.1 lakh crore this fiscal, by selling stake in several public sector enterprises, but the plans have been stalled due to several factors

Govt aims to vaccinate 30 crore priority individuals by August 2021 and 50 crore private individuals by 2022-end. SBI think tank says India will require around Rs 56,000-72,000 crore to administer vaccines to 80 crore people

The revenue department has already started sharing such information among its wings - direct tax, indirect tax and customs departments

GST collections in December 2020 showed an unexpected year-on-year growth of 11.6 per cent to Rs 1.15 lakh crore, the highest monthly GST collection so far

This is the highest ever collection since the implementation of the countrywide tax in July 2017, the Finance Ministry said in a statement on Friday, January 1

Even if the government manages to collect the same tax amount in the last four months of FY21 as it did last fiscal, the total tax collection would be around Rs 18.6 lakh crore, almost 6 lakh crore lower than the budgeted estimate

The government had notified certain changes to the GST Rules on December 22 and some of the rules are set to be applicable from January 1 next year

In terms of COVID management, North East, Bihar, Uttar Pradesh, Odisha, Jharkhand, Telangana, Tamil Nadu, Andhra Pradesh, Goa and Jammu & Kashmir were among top ten performing states, as per SBI report

India Stock Market Highlights Today: HDFC twins, Reliance Industries were among the top losers and Tata Steel, Titan and Asian Paints were among the top gainers

The highest amount was released to Kerala at Rs 1,277 crore, followed by Rs 952 crore to Himachal Pradesh and Rs 638 crore to Punjab

This move seems to arise from the government's inability to create jobs so it is using its power to enact and make regulations, says K.R. Shyam Sundar, labour economist, and professor at XLRI Jamshedpur

In the April-September 2020 period, the government's gross tax collection has fallen by 27.5% to Rs 7.2 lakh crore compared to Rs 9.2 lakh crore a year ago

CA Pritam Mahure, said, the surge in GST number could be attributed to taxpayers starting to pay GST as the tax relaxations given earlier are now being taken away