Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expens...
Gross GST collections rose 9.1% year-on-year to Rs 1.89 lakh crore in September, about 1.5% higher than August, with net GST at Rs 1.60 lakh crore (5% y/y growth); gross domestic tax revenue grew 6.8% to Rs 1.36 lakh crore and import tax increased 15.6% to Rs 52,492 crore, while GST refunds jumped 40.1% to Rs 28,657 crore. Rate rationalisation reforms effective September 22, which cut rates on 375 items, are reflected in collections and appear to have boosted demand in the latter part of the month. Industry analysts noted that pre-cut anticipation and post-cut consumption effects largely balanced overall GST receipts.
Gross GST collections rose 9.1% year-on-year to Rs 1.89 lakh crore in September, about 1.5% higher than August, with net GST at Rs 1.60 lakh crore (5% y/y growth); gross domestic tax revenue grew 6.8% to Rs 1.36 lakh crore and import tax increased 15.6% to Rs 52,492 crore, while GST refunds jumped 40.1% to Rs 28,657 crore. Rate rationalisation reforms effective September 22, which cut rates on 375 items, are reflected in collections and appear to have boosted demand in the latter part of the month. Industry analysts noted that pre-cut anticipation and post-cut consumption effects largely balanced overall GST receipts.
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