GST collections moderate to ₹1.12 lakh crore in August
The Hindu
August GST revenues are 30% higher than the same month a year ago but 3.75% lower than July 2021
Gross Goods and Services Tax (GST) revenues in August fell to ₹1.12 lakh crore from ₹1.16 lakh crore in July, the Finance Ministry said on September 1, terming it an indicator that the economy is in the midst of a ‘fast’ recovery. The August GST revenues are 30% higher than the same month a year ago but 3.75% lower than July 2021. “Even as compared to the August revenues in 2019-20 of ₹98,202 crore, this [₹1,12,020 crore collection] is a growth of 14%,” the Finance Ministry said, suggesting that GST revenues have gone past their pre-pandemic levels. Revenues from domestic transactions (including import of services) were 27% higher in August year-on-year. GST collections had fallen below the ₹1 lakh crore mark in June due to the second COVID-19 wave after a nine-month streak above that threshold.
Samsung Galaxy S25 Series with AI-first platform, Snapdragon 8 Elite, and pre-order options available in India.
Indian rupee weakens to 86.47 against the U.S. dollar due to strong dollar, FII outflows, and cautious market sentiment.
India's digital economy to grow rapidly, reaching 13.42% of national income by 2024-25, with ICT leading the way.
VuNet Systems secures ₹60 crore in Series B funding to expand globally and enhance business journey observability with AI.
Barclays anticipates FY25-26 Union Budget to focus on supporting growth through personal income tax cuts and fiscal consolidation.
NRAI to approach CCI over Zomato and Swiggy's "private labelling" and quick commerce, citing anti-competitive practices and data masking.
Former RBI Governor Subbarao urges NDA 3.0 government to implement structural reforms in budget for growth and job creation.
Walmart partners with Indian startups for innovative solutions to enhance U.S. supply chain efficiency and sustainability.
Davos Summit 2025 LIVE: Follow The Hindu’s updates of Day 4 of the World Economic Forum 2025, in Davos, Switzerland, on January 23, 2025
Equity indices rebounded on Thursday with gains in IT stocks and Asian markets, despite early morning losses.
Rupee weakens to 86.40 against US dollar amid volatile trade, influenced by greenback and domestic market trends.
Amazon has shut down its Quebec operations and will be cutting around 1,700 jobs displeasing the community.
Indonesia is close to a deal with Apple Inc. for an investment plan that could lift a ban on iPhone 16 sales, per an official.
OpenAI and SoftBank will each commit $19 billion to fund Stargate, the Information reported.
Union Minister Ashwini Vaishnaw showcases India's commitment to innovation and international collaboration in the railway sector at WEF 2025.
CCEA sets MSP for raw jute at ₹5,650 per quintal for 2025-26, ensuring 66.8% return for growers.
EPFO sees 18.8% rise in new members in November 2024, with young members dominating; significant female member addition.
Rupee strengthens against US dollar due to positive equities, but faces volatility amid global economic uncertainty.