GST collection highest in April by 12%

NEW DELHI, MAY 1

(PTI): GST collection in April rose by 12 per cent annually to over Rs 1.87 lakh crore, touching an all-time monthly high, showed finance ministry data released on Monday.

The previous monthly high Goods and Services Tax (GST) collection was in April 2022 at about Rs 1.68 lakh crore.

Hailing the record GST collection, Prime Minister Narendra Modi in a tweet said, “Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance.”

The gross GST revenue collected in the month of April 2023 is Rs 1,87,035 crore of which CGST is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs 89,158 crore (including Rs 34,972 crore collected on import of goods) and cess is Rs 12,025 crore (including Rs 901 crore collected on import of goods), the finance ministry said in a statement.

The revenues for April 2023 are 12 per cent higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 16 per cent higher than the revenues from these sources during the same month last year, it said.

April 2023 saw the highest-ever tax collection on a single day on April 20. A sum of Rs 68,228 crore was paid through 9.8 lakh transactions on that day. The highest single-day payment last year (on the same date) was Rs 57,846 crore through 9.6 lakh transactions.

The ministry also said the number of e-way bills generated in March 2023 was 9 crore, which is 11 per cent higher than 8.1 crore e-way bills generated in February 2023.

During April, the government settled Rs 45,864 crore to CGST and Rs 37,959 crore to SGST from IGST.

The total revenue of the Centre and the States in April 2023 after regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for the SGST.

Commenting on the GST numbers, Assocham President Ajay Singh said that the highest ever col -

NPCC backs issues raised by Jamir; slams NDPP...

(From p -1)

On the ULB issues, NPCC said it was unfortunate that the NDPP Youth Wing blamed Dr Jamir’s government for enacting the Nagaland Municipal Act 2001. It pointed out that present chief minister who was home minister was part of the collective decision in 2001 to create new municipal bodies.

NPCC said the ongoing controversy over polls to ULBs was not due to Dr Jamir but when the party in power in 2006 adopted the 74th constitutional amendment which automatically incorporated 33% women reservation in ULBs. Polls

(From p -1) were deferred in 2010 by the government after objections from various organisations it said. NPCC said the ruling party’s attempt to not include the clause on women reservation eventually led to litigation and reached the Supreme Court in the form of Special Leave Petition.

NPCC said ruling NDPP , after giving an undertaking to hold ULB polls to the Supreme Court , issued a notification on March 9 to conduct polls to ULBs by May 16.

However on March 28, the government took a Uturn in passing the Nagaland Municipal Act(Repeal Bill 2023) to disable holding of lection in April marks an excellent beginning of fiscal 2023-24.

ULB polls. NPCC said this led to contempt of court proceedings from the Supreme Court against the state government. It was under this circumstance that Dr.Jamir had asked if the present oppositionless government can remain in power?

NPCC also expressed the hope that civil societies, NGOs and other organisation will come out with proposals for early resolution for holding ULB polls.

It also expressed the hope that those having concern for the people of Nagaland will heed to the wake up calls made by Dr Jamir, K.Therie besides other prominent Nagas.

NSCN-Akato: Akato Chophi-led NSCN/GPRN also conveyed Moatsu greetings and reminded that it is a binding festival celebrated after the sowing season is over and celebrated with singing and dancing both by the men and women folks in traditional attires.

“May our Ao brothers and sisters continue to be the torchbearers and pioneers in many fields, and to instill a sense of responsibilities to other fellow Nagas,” the MIP stated.

“The GST numbers are indicative of robust growth of the Indian economy, on the back of a strong pickup in consumer demand,” he said.

Gautam Mahanti, Business Head, IRIS Tax Tech stated that the recordbreaking GST collection is a clear indication of the positive impact of e-invoicing and strengthened compliance regulations, coupled with India’s thriving economy.

“As anticipated, the 12 per cent growth from the previous year in April 2022 is attributed to the rise in eway bills generated in March 2023, which witnessed a 16 per cent growth from the same period last year,” he said.

Aditi Nayar, Chief Economist, ICRA Limited said GST collections displayed a robust year-end uptick with a 12 per cent expansion in April 2023, representing the transactions in March 2023.

Gold declines Rs 105; silver zooms Rs 730

NEW DELHI, MAY 1

(PTI): Gold prices declined by Rs 105 to Rs 59,975 per 10 grams in the national capital on Monday amid a fall in prices of precious metal internationally, according to HDFC Securities.

The yellow metal settled at Rs 60,080 per 10 grams in the previous trade.

Silver, however, zoomed Rs 730 to Rs 75,700 per kg.

“Spot gold prices in the Delhi markets traded at Rs 59,975 per 10 grams, down Rs 105 per 10 grams,” Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

In the overseas market, gold was quoting lower at USD 1,981 per ounce while silver was up at USD 25.12 per ounce.