GST Update: New chairperson of Group of Ministers on IGST announced - Sushil Modi | Revenue enhancement in the offing?
Bihar Deputy Chief Minister Sushil Modi has been anointed chairperson of the group of ministers (GoM) on integrated goods and service tax (IGST). The GoM is expected to deliberate and suggest measures for increasing GST revenue.
Group of ministers (GoM) on Integrated Goods and Service Tax (IGST): All you need to know
- The GoM on IGST constitutes ministers and officers from states as well as the Centre.
- It is expected to suggest measures to boost GST revenue
- The GoM was constituted Subsequent to Union Finance Minister's meeting on December 4, 2019 with the Finance Ministers of Punjab, Madhya Pradesh, Rajasthan and Deputy Chief Ministers of Delhi and Pudducherry.
GST Collection: Nov 2019
During the month of November, the GST collection on domestic transactions witnessed a growth of 12 per cent, highest during the year.
Noteworthy, GST collections crossed Rs 1 lakh crore in November.
Festive season demand had helped the government collect Rs 1.03 lakh crore in Goods and Services Tax (GST) in the month of November. This is 6 per cent more as compared to the same month last year.
Gross GST revenue
"The gross GST revenue collected in the month of November 2019 is Rs 1,03,492 crore of which CGST is Rs 19,592 crore, SGST is Rs 27,144 crore, IGST is Rs 49,028 crore (including Rs 20,948 crore collected on imports) and cess is Rs 7,727 crore (including Rs 869 crore collected on imports)," a Finance Ministry statement said.