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Breaking News LIVE Updates: GST Revenue Collection Hits All-Time High in December 2020

Breaking News LIVE Updates: In further signs of economic revival, GST revenue collection for December 2020 hit an all-time high since the implementation of the new tax regime in 2017.

News18.com | January 01, 2021, 16:26 IST

Breaking News LIVE Updates: In further signs of economic revival, GST revenue collection for December 2020 hit an all-time high since the implementation of the new tax regime in 2017. Rs 1,15,174 crore gross GST revenue was collected in December, 12% higher than the GST revenues in the same month last year, CNBC-TV18 reported. This is the third month in a row in the current financial year that the GST revenues have been more than Rs 1 lakh crore.

Trading community, meanwhile, has urged Finance Minister Nirmala Sitharaman and Goods and Goods and Services Tax (GST) Council to withdraw certain provisions of the new GST notification issued a few days back. The government had notified certain changes to the GST Rules on December 22 and some of the rules are set to be applicable from January 1 next year.

In a memorandum, Federation of All India Vyapar Mandal – a national body of small traders – advocating for a single- point GST collection, urged for certain changes in the recently issued GST notification. “Scrap Rules 86B and 36(4), to be effective from 1st January 2021. These provisions are against the fundamental spirit of GST as it obstructs seamless input tax credit,” association general secretary V K Bansal said.

Jan 01, 2021 16:26 (IST)

India May Approve Oxford-AstraZeneca Vaccine Today: Report | India's drug regulator, the Central Drugs Standard Control Organization (CDSCO), is set to approve a coronavirus vaccine developed by AstraZeneca and Oxford University for emergency use today, a Reuters report has said quoting three sources. The decision would pave the way for the vaccine's rollout in the world's second-most populous country which, after the United States, has the highest number of Covid-19 infections in the world. Follow live updates here

Jan 01, 2021 15:15 (IST)

Schools Reopen in Assam | Schools reopen for all classes from today in Assam. "Not a single student came to school today. Since we've to stay till the end of the day, we decided to do some recreation among ourselves," says Principal-in-charge, Gopal Boro Govt Hr. Sec School in Ganeshguri area of Dispur.

Jan 01, 2021 15:07 (IST)

DMK Demands TN Assembly Resolution Against Central Farm Laws | DMK chief MK Stalin on Friday urged Tamil Nadu CM K Palaniswami to take a cue from Punjab and Kerala and get a resolution adopted in the state assembly seeking repeal of the three contentious Cenrtal farm laws, against which farmers have been protesting near Delhi. Stalin, the Leader of the Opposition in the assembly, wrote to the chief minister seeking convening of a special session of the House immediately for the purpose, a day after the Kerala Assembly adopted a resolution pressing for repeal of the laws.

Jan 01, 2021 14:41 (IST)

'Brother Soumendu, Host of Other TMC Workers to Join BJP' | BJP leader Suvendu Adhikari on Friday said his disgruntled brother and TMC leader Soumendu will join the saffron camp along with a host of other activists from the state's ruling party. Asserting that the TMC, of which he was a part till about a month ago, will disintegrate soon, Adhikari, during a meeting here in Purba Medinipur, claimed that Soumendu, together with a few councillors and 5,000 TMC workers, will switch over to the saffron party later in the day. "My younger brother Soumendu will join the BJP in Contai today. He will be accompanied by several councillors and 5,000 TMC grassroot workers. The TMC will steadily disintegrate," Adhikari said here on the occasion of the Mamata Banerjee-led party's Foundation Day. 

Jan 01, 2021 14:06 (IST)

Highest Revenue in 21 Months | GST collections touched a record high of over Rs 1.15 lakh crore in December, reflecting festive demand and reflating economy. The gross GST revenue collected in the month of December 2020 is Rs 1,15,174 crore and is the highest since the introduction of Goods and Services Tax from July 1, 2017, the Finance Ministry said in a statement. "This is the highest growth in monthly revenues for the last 21 months. This has been due to combined effect of the rapid economic recovery post-pandemic and the nation-wide drive against GST evaders and fake bills along with many systemic changes introduced recently, which have led to improved compliance," the Finance Ministry said in a statement. 

Jan 01, 2021 13:40 (IST)

GST Revenue for December Recorded All-time High | GST Revenue collection for December 2020 was recorded at all-time high since the implementation of GST. The gross GST revenue collected in  December was Rs 1,15,174 crore. Revenues for December 2020 was 12 percent higher than the GST revenues in the same month last year.

Jan 01, 2021 13:32 (IST)

READ | PM Lays Foundation Stone of 'Light House Projects' Which Seeks to Build 1,000 Homes in 1 Yr in Various States

Prime Minister Narendra Modi on Friday laid the foundation stone of Light House Projects under the Global Housing Technology Challenge-India (GHTC-India) at six sites across six states, a programme…

Jan 01, 2021 13:22 (IST)

Govt Lodges Strong Protest Against Temple Demolition in Pakistan | India lodges strong protest over demolishing of Hindu temple in Pakistan' Terri village in Khyber Pakhtunkhwa. Concerns were conveyed to Pakistan through diplomatic channels. Over 30 people, mostly members of a radical Islamist party, were arrested after a Hindu temple was vandalised and set on fire by a mob protesting against its expansion work in northwest Pakistan, officials said. The attack on the temple drew strong condemnation from human rights activists and Hindu community leaders.

Jan 01, 2021 12:56 (IST)

Protesting Farmers Stay Put in Severe Cold as Talks Remain Deadlocked | Thousands of farmers dug in their heels at protest venues outside several Delhi gateways, undeterred by the biting cold and firm in their resolve to not return home till their demands are met, as the New Year dawned with the minimum temperature dipping to 1.1 degrees Celsius. The government and the farm unions had reached some common ground on Wednesday to resolve the protesting farmers' concerns over rise in power tariff and penalties for stubble burning, but the two sides remained deadlocked over the main contentious issues of the repeal of three farm laws and a legal guarantee for MSP.

Jan 01, 2021 12:37 (IST)

PM Modi Lays Foundation Stone of Light House Projects | Chief Ministers of Uttar Pradesh, Madhya Pradesh, Gujarat, Tripura, Andhra Pradesh take part in foundation stone laying ceremony of Light House Projects (LHPs) under Global Housing Technology Challenge-India. "These six projects will give a new direction to housing projects in the country. It has strengthened cooperative federalism," PM Narendra Modi said at the launch of Light House Projects. "Affordable Sustainable Housing Accelerators -India (ASHA-India) program is being run in the country to promote research and startups in modern housing technology," he added.

Jan 01, 2021 12:26 (IST)

Mehbooba Asks for Fair Probe in Lawaypora  Encounter | Mehbooba Mufti writes to LG Manoj Sinha and appealed that the bodies of three youth killed in an encounter at Lawaypora be handed over to the families. She also demanded a fair probe be launched in the case.

Jan 01, 2021 12:13 (IST)

Wildfire in Nagaland's Dzukou Range Spreads to Manipur | The Manipur government has requested the NDRF and the Army to help contain the wildfire which broke out in Dzukou Range in neighbouring Nagaland and has spread to Senapati district of the state, officials said on Thursday. The fire broke out in the Dzukou Range in Nagaland on Tuesday and has crossed over to Manipur side, they said.

Jan 01, 2021 11:17 (IST)

Delhi CM Arvind Kejriwal Greets People on New Year | Delhi Chief Minister Arvind Kejriwal greeted people on New Year's Day on Friday and hoped the vaccine for COVID-19 will be available soon in India and normal life restored. He also cautioned people to follow rules for prevention of the disease. In a video message, the chief minister said last year was difficult not only for India but the whole world. The world faced the biggest pandemic of the human history, he added.

Jan 01, 2021 10:56 (IST)

Cold Wave Continues in Haryana, Punjab; Hisar Coldest at Minus 1.2 Degrees | There was no let-up in the cold wave sweeping through Haryana and Punjab on Friday, with Hisar reeling at minus 1.2 degrees Celsius. A thick blanket of fog enveloped the two states in the morning, reducing visibility levels, Meteorological department officials here said. The minimum temperatures continued to hover well below the normal limits, they said. Hisar in Haryana had on Thursday too recorded the same minimum temperature, eight notches below normal limits, making it the coldest place in the two states.

Cold Wave Continues in Haryana, Punjab; Hisar Coldest at Minus 1.2 Deg C
Jan 01, 2021 10:42 (IST)

Maha Dy CM, Others Pay Tributes at Koregaon Bhima | Maharashtra Deputy Chief Minister Ajit Pawar and some other leaders paid tributes at the ’Jay Stambh’ near here on Friday on the 203rd anniversary of the Koregaon Bhima battle. State Home Minister Anil Deshmukh, Power Minister Dr Nitin Raut were also among those who paid tributes at the memorial, located near Perne Village on Pune-Ahmednagar Road.

Jan 01, 2021 10:25 (IST)

Hisar Records a Minimum of 1.2 Degrees | Haryana's Hissar records minimum temperature of minus 1.2 degrees Celsius and Rajasthan's Churu records minus 0.2  degree Celsius, as per India Meteorological Department.

Jan 01, 2021 10:13 (IST)

Chilla and Ghazipur Borders are Closed for Traffic | Delhi Police said that Chilla and Ghazipur borders are closed for traffic coming from Noida and Ghaziabad to Delhi because of farmer protests. "Please take alternate route for coming to Delhi via Anand Vihar, DND, Apsara, Bhopra and Loni Borders.Singhu, Auchandi ,Piau Maniyari, Saboli and Mangesh borders closed. Please take alternate route via Lampur Safiabad, Palla and Singhu school toll tax borders. Traffic has been diverted from Mukarba and GTK road," Delhi Police said in a tweet.

Jan 01, 2021 09:58 (IST)

Minimum Temperature of 1.1 Degrees Recorded | "Latest minimum temperature of 1.1 degrees Celsius recorded at Safdarjung observatory in Delhi. Very dense fog, zero visibility recorded at 6 am, visibility currently below 200 meters at Palam and Safdarjung," Kuldeep Srivastava, Regional Head IMD said.

Jan 01, 2021 09:26 (IST)

Minimum Temperature of 1.6 Degrees Recorded in Delhi | Minimum temperature of 1.6 degrees Celsius was recorded at Safdarjung observatory in Delhi today, as per India Meteorological Department. Delhi today woke up to dense fog on the new year.

Jan 01, 2021 09:22 (IST)

"The government has addressed our demands to drop penal provisions against farmers in an ordinance relating to stubble burning and to put on hold a proposed electricity amendment law," Chaduni said. "But, we want to make it clear that there is no alternative to our two remaining demands which include repeal of the three agriculture laws and legal guarantee for MSP," he said.

Jan 01, 2021 09:12 (IST)

No Alternative to Legal Guarantee for MSP, Repealing Laws: Famer's Union | There is no alternative to farmers' demands of legal guarantee for MSP and repealing the new agri laws, farmer leaders said on Thursday, a day after talks between the Centre and the protesting unions remained deadlocked over the two contentious issues. However, the government and farmer unions after nearly five hours of the sixth round of negotiations on Wednesday reached some common ground to resolve protesting farmers' concerns over rise in power tariff and penalties for stubble burning

Jan 01, 2021 09:03 (IST)

Arvind Kejriwal Extends New Year Wishes | Delhi Chief Minister Arvind Kejriwal extends New Year wishes. "I salute our corona warriors including doctors, nurses, police personnel and sanitation workers among others. They continued to serve the people during this difficult situation," he says.

Jan 01, 2021 08:50 (IST)

'We Hoped to be Home by Diwali, It's New Year Now': Stranded Indians at China Port | It was back in April 2020 when 29-year-old second officer Gaurav Singh, from Pune, and his 18-member crew (out of which 16 were Indians) were to disembark from their ship ‘Anastasia’ at a port in China and come home. Their departure was delayed week after week, at first due to the breakout of Covid-19 and then for reasons that were unclear to them. During this ‘forced’ isolation, Gaurav realised that nearly 1500 other sailors stranded like them in Chinese waters on 74 other ships. Read More

Jan 01, 2021 08:33 (IST)

READ | With Bonfire and Camaraderie, Protesting Farmers Welcome 2021 at Singhu Border

The crowd is more than usual but the diverse collage can easily be broken in one heartbeat.

Jan 01, 2021 08:12 (IST)

Ajit Pawar, Anil Deshmukh to Visit Koregaon Bhima | Deputy Chief Minister Ajit Pawar, Home Minister Anil Deshmukh, Social Justice Minister Dhananjay Munde to visit Koregaon Bhima on Sunday. Maharashtra govt has appealed to people to not overcrowd at Koregaon Bhima to pay their respect, instead be at home. Ajit Pawar will visit Koregaon Bhima at 6 am while Anil Deshmukh will visit at 6.30 am.

Jan 01, 2021 08:00 (IST)

Average Minimum Temperature Lowest in Delhi in 15 Years | The average minimum temperature in Delhi in December was the second-lowest in 15 years, according to the India Meteorological Department. Data released by the IMD on Thursday showed that the mean minimum temperature this December was 7.1 degrees Celsius. It was 7.6 degrees Celsius last year. The MMT for December in Delhi dipped below 7 degrees Celsius only once in the last 15 years, in 2018 when it was 6.7 degrees Celsius, it stated. The average MMT for December was 6 degrees Celsius in 2005 and 5.9 degrees Celsius in 1996, according to the IMD data.

Jan 01, 2021 07:51 (IST)

PM Modi extends New Year greetings. "May this year bring good health, joy and prosperity. May the spirit of hope and wellness prevail," PM Modi said in a tweet.

Jan 01, 2021 07:31 (IST)

Miscreants Set Agra Police Chowki on Fire After Road Accident | Miscreants vandalised and set Tora Police Chowki on fire following death of a person after a speeding tractor overturned in UP's Agra. "The situation is in control. The miscreants are being identified through CCTV cameras. Legal action will be taken against them," says IG A Satish Ganesh.

Jan 01, 2021 07:15 (IST)

Sun Rises in Kolkata on New Year | The sun rises over the horizon, in Kolkata, overlooking the Hooghly river and the Howrah Bridge on the first day of the year 2021.

Jan 01, 2021 07:03 (IST)

'India Expected to Work with China with Same Goal' | India is expected to work with China towards the same goal, implement the consensus reached at the Corps Commander-level meetings, and take pragmatic measures to further abate the tension in border areas, Defence Ministry spokesman Sr. Colonel Tan Kefei said. India and China have held several rounds of talks at the diplomatic and military-level to resolve the standoff that erupted in early May. At the latest round of foreign ministry-level talks on December 18, the two sides said that they have agreed to continue work towards ensuring complete disengagement of troops in all friction points along the Line of Actual Control.

Breaking News LIVE Updates: GST Revenue Collection Hits All-Time High in December 2020
Image for representation (AFP)

The Central Board of Indirect Taxes and Customs (CBIC) has introduced Rule 86B in GST Rules, to be applicable from January 1, 2021, which restricts use of input tax credit for discharging GST liability to 99 per cent. This means businesses with monthly turnover of over Rs 50 lakh will have to mandatorily pay at least 1 per cent of their GST liability in cash, the letter to the minister said. Rule 36(4) restricts claim of Input Tax Credit (ITC) in respect of invoices/debit notes not furnished by the suppliers which has now been reduced from 10 per cent to 5 per cent of the credit available in GSTR 2B.

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