GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
The collections stood at Rs 98,202 crore in the month, against Rs 1.02 trillion in July. The figures indicate continuation of economic slow down which was reflected in the gross domestic product (GDP) growth which plummeted to a 25-quarter low of 5 per cent in the first quarter of 2019-20, experts said.
The states which achieved "extraordinary growth" in total taxes collected include Kerala (44 per cent), Jharkhand (20 per cent), Rajasthan (14 per cent), Uttarakhand (13 per cent) and Maharashtra (11 per cent), an official statement said.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
Tax experts said historically in July and August indirect tax collections remain subdued and pick up with the onset of the festive season post Ganesh Chaturthi.
As the Centre tried to build consensus on its proposal on constitution amendment bill, required for the rollout of GST, and even floated revised draft to please states, some states came out with alternative model that would not require the amendment of constitution.
The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
Higher reliance on GST receipts for revenue reduces states' autonomy as these receipts depend on tax rates decided by the GST Council, a report by Delhi-based non-profit, PRS Legislative Research shows.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
With less than a year left for the scheduled introduction of the Goods and Services Tax (GST), most states have increased their VAT (value-added tax) rates. The move is seen as an attempt to extract better compensation from the Centre for loss on account of GST rollout
The panel might also decide on a new chairman.
K M Mani was appointed the chairman of the panel in March this year.
GST is still some time away -- the Centre and the states are yet to decide on the rates, a draft law is not ready, the constitutional amendment is yet to happen -- but companies are already trying to figure out its impact, and getting ready for it.
Businesses with more than Rs 10 lakh turnover may end up paying the central goods and services tax, with the Centre not agreeing to states' suggestion of keeping the threshold at Rs 1.5 crore.
States should have enough time. We still do not know the rules. There are a lot of operational difficulties, says Jammu and Kashmir Finance Minister Haseeb Drabu.
'Persisting with the inequalities, indeed seeing them get worse, is no one's prescription for national unity,' notes T N Ninan.
Nasscom president said moving from single to multiple points could be a challenge from the point of view of ease of doing business
From 2010 onwards, states will get power to levy and collect the dual goods and service tax (GST) on certain services like amusement parks, private health and education services.
After the April-July fiscal deficit data was released on August 31, several analysts hinted that the government may need to go for cuts in capital expenditure to meet the fiscal deficit target.
The GST bill's draft says tax would be levied on Maximum Retail Price
The GST bill was earlier planned to be introduced from April 1.
The panel decided to omit the reverse charge mechanism (RCM) clause from the GST law under which registered taxpayers buying from unregistered taxpayers have to deposit the GST.
The states have unanimously pitched for sole administrative powers to carry out assessment, scrutiny and enforcement for entities up to an annual turnover of Rs 1.5 crore.
GST is levied on every transaction in the supply of goods and services, barring certain exempted items
Parliament on Thursday cleared the decks for the rollout of the historic Goods and Services Tax from July 1 as it approved four supporting legislations to usher in the one-nation-one-tax regime.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
The 30-share barometer remained up throughout and hit a high of 29,070.20, powered by a rally in RIL and other blue-chips. The index ended 215.74 points up, or 0.75 per cent, at 29,048.19 -- its highest closing since March 5, 2015, when it had closed at 29,448.95.
It is possible that the Centre has now become wiser and has decided to follow an allocation system which gives it more from Integrated GST and helps boost its revenues, says A K Bhattacharya.
Arun Jaitley on Friday said he would defer the move.
Nine years after he sacrificed his life to capture 26/11 terrorist Ajmal Kasab, Tukaram Omble's daughter says that citizens must realise that losing security personnel is not only the family's loss but also that of the country.
Jaitley says govt is open to scrapping 1% additional tax on GST
'The low tax to GDP ratio of the country will go up, helping the government to adhere to fiscal discipline and keep inflation in check.'
Enthused by the consensus in reaching four-tiered GST tax structure, particularly the unanimity achieved with Congress-ruled states, senior government sources were confident that the Central GST and Integrated GST Bills will be passed by both the Houses.
'So far, the government has sanctioned more than Rs 300 billion as GST refunds,' Ansh Bhargava and Aditya Singhania point out.
The budget, presented by Finance Minister Thomas Issac, focused on infrastructure development, strengthening of social welfare measures, steps to enhance safety of women, giving impetus to public education and health. It is the second budget by the ruling CPI(M)-led LDF after it came to power last year.
Inching towards rolling out of GST, the GST Council on Saturday approved a law to compensate states for any loss of revenue from the implementation of the new national sales tax but deferred approval for enabling laws to next meeting.
Know what terms like anti-profiteering, CGST, SGST, IGST means in the new regime
The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime.
FM said a Constitution Amendment Bill for introduction of GST will be passed soon.
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