look news india
In 2024, the government has earned bumper from GST collection. If we look at the data from January 2024 to December 2024, the government has earned a total of Rs 21.51 lakh crore from GST collection. Whereas in December 2024, Rs 1.77 lakh crore has come to the government treasury from GST collection.
Collection increased by 8.5% in November
GST collection in November increased by 8.5 percent to Rs. It is worth Rs 1.82 lakh crore. According to Finance Ministry data, collections for the April-December period stood at Rs. 16.34 lakh crore. At the same time, gross GST collection in October increased by 9 percent to Rs. Rs 1.87 lakh crore, second highest collection ever due to increase in domestic sales and better compliance.
55th meeting of GST Council
In the 55th meeting of the GST Council, a proposal was made to implement track and trace mechanism for goods to prevent GST evasion. Under this, a unique mark will be placed on such items or packets, so that they can be traced in the supply chain. It aims to include a provision in the Central Goods and Services Tax (CGST) Act, 2017, through Section 148A, to enable the government to detect products prone to tax evasion.