LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

November GST revenue falls short, will meet annual target: Official

Despite falling short in the GST collections for last month, the government on Tuesday said it is confident of meeting the collection target for the current fiscal. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
November GST revenue falls short, will meet annual target: Official
Official data last week showed that GST revenue in November fell to Rs 97,637 crore after having breached the Rs 1-lakh crore-mark in October. Image source: PTI
Written By: IANS
Updated: Wed, Dec 05, 2018
07:53 am
IANS
RELATED NEWS
Property Buying Tips: 5 things to keep in mind before buying a home in 2021 Property Buying Tips: 5 things to keep in mind before buying a home in 2021
GST: Major Modi government move for curbing tax evasion, safeguarding revenues GST: Major Modi government move for curbing tax evasion, safeguarding revenues
National Pension System: Lesser-known income tax, GST benefit that NPS scheme beneficiaries must know National Pension System: Lesser-known income tax, GST benefit that NPS scheme beneficiaries must know
NPS Scheme: EXPLAINED | Income Tax exemption, GST, other benefits that National Pension System account holder must know NPS Scheme: EXPLAINED | Income Tax exemption, GST, other benefits that National Pension System account holder must know
Income Tax Holiday: Realtors demand extension for affordable housing projects from FM Nirmala Sitharaman Income Tax Holiday: Realtors demand extension for affordable housing projects from FM Nirmala Sitharaman

Despite falling short in the GST collections for last month, the government on Tuesday said it is confident of meeting the collection target for the current fiscal. Speaking to reporters on the sidelines of the Directorate of Revenue Intelligence (DRI) Foundation Day, the newly-appointed Revenue Secretary Ajay Bhushan Pandey said although the November Goods and Services Tax (GST) collections have fallen short of the monthly target by around Rs 4,000 crore, he is confident that the shortfall would be made up in the subsequent months. 

Official data last week showed that GST revenue in November fell to Rs 97,637 crore after having breached the Rs 1-lakh crore-mark in October. "We are short by Rs 4,000 crore this month (November). To arrive at any conclusion, we have to have some more months` data. But we are confident we will be able to achieve our target," Pandey said. 

"Our monthly target is around Rs 1 lakh crore. We want to increase it to Rs 1.10 lakh crore." The 2018-19 Union Budget has estimated an annual GST collection of Rs 13.48 lakh crore. 

Watch this Zee Business video here:

The Secretary said the Department of Revenue is collecting inputs about entities that are evading taxes. He also said the new simplified GST return forms will be rolled out from April 1 next year.

The new return forms `Sahaj` and `Sugam` would replace GSTR-3B summary sales return and GSTR-1 final sale return forms. 

The new simplified return form would have two main tables - one for reporting outward supplies and the oter for availing of the input tax credit which would be based on the invoice uploaded by the supplier.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
GST
RELATED NEWS
Property Buying Tips: 5 things to keep in mind before buying a home in 2021 Property Buying Tips: 5 things to keep in mind before buying a home in 2021
GST: Major Modi government move for curbing tax evasion, safeguarding revenues GST: Major Modi government move for curbing tax evasion, safeguarding revenues
National Pension System: Lesser-known income tax, GST benefit that NPS scheme beneficiaries must know National Pension System: Lesser-known income tax, GST benefit that NPS scheme beneficiaries must know
NPS Scheme: EXPLAINED | Income Tax exemption, GST, other benefits that National Pension System account holder must know NPS Scheme: EXPLAINED | Income Tax exemption, GST, other benefits that National Pension System account holder must know
Income Tax Holiday: Realtors demand extension for affordable housing projects from FM Nirmala Sitharaman Income Tax Holiday: Realtors demand extension for affordable housing projects from FM Nirmala Sitharaman

LATEST NEWS

Nestle India share price: Jefferies revises price target to Rs 18100

Indian Army Recruitment Rally 2021: 8th pass, 10th pass can apply; know where to apply and other details

Alia Bhatt launches her ''Eternal Sunshine Productions''

Gold Price Today 1-03-2021 – Despite fall in prices, Indian consumers not benefitting as much; expert tells why

PUBG Mobile Lite Season 22 Update: Check release date, timings, APK download link and MORE!

Warren Buffett mistake: $10 billion miscalculation - check Oracle of Omaha letter

No more easy money left in markets now, Anil Singhvi reveals key to profitable trading

John Abraham, Disha Patani begin shooting for Mohit Suri's film 'Ek Villain Returns'

XLRI Placements 2020, 2021: 100% jobs! Check highest salary, average package and name of companies, top recruiters

Yes Bank Share price today: Technical and Fundamental Analysis I Investec cuts target price to Rs 19

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved