Goods and Services Tax (GST) In the month of September, the gross collection increased by 6.5 percent on annual basis to about Rs 1.73 lakh crore. This information was given in the official data released on Tuesday. Gross GST collection in the same period last year was Rs 1.63 lakh crore. Whereas in August 2024, GST collection was Rs 1.75 lakh crore. According to official data, domestic tax revenue increased by 5.9 per cent to about Rs 1.27 lakh crore in September.
At the same time, revenue from import of goods increased by eight percent to Rs 45,390 crore. During the period under review, refunds worth Rs 20,458 crore were issued by the GST department, which is 31 percent more than the same period a year ago. After adjusting the refund amount, net GST revenue in September stood at Rs 1.53 lakh crore. This is 3.9 percent more than the same period last year.
GST anti-profiteering system will not be effective from April 1, 2025
GST anti-profiteering regime will no longer be effective from April 1, 2025. The government has notified April 1, 2025, as the date for abolishing the provision related to curbing profiteering in the GST law. Also, from October 1, all pending complaints under anti-profiteering provisions will be decided by the principal bench of the GST Appellate Tribunal (GSTAT) instead of the Competition Commission of India (CCI), the government's GST policy cell said in another notification. These notifications are in line with the recommendations of the GST Council. The Council in its 53rd meeting on June 22 recommended amendments in Section 171 and Section 109 of the Central GST Act, 2017 to eliminate anti-profiteering provisions under GST and to allow anti-profiteering cases to be heard by the Principal Bench of the GST Appellate Tribunal. Did.
The council had also recommended a deadline of April 1, 2025, for receipt of any new anti-profiteering applications. The GST Policy Cell's notification means that consumers will not be able to file complaints about profiteering against companies that do not pass on the benefit of the GST rate cut from April 1, 2025. However, complaints filed before April 1, 2025, will be dealt with by the Principal Bench of the GST Appellate Tribunal until a final conclusion is reached.
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