GST reshaped how movies, events and OTT services are taxed by replacing entertainment tax with a unified structure. This article explains the GST rates on entertainment, input tax credit for the industry, and the impact on ticket prices and consumers. Entertainment plays a significant role in daily life, providing relaxation after demanding work weeks. The
The COVID-19 period brought GST relief measures, deadline extensions and rate changes on essential goods. This article reviews the key GST adjustments during the pandemic and how they affected businesses and compliance. India experienced a nationwide lockdown starting in March 2020 due to the COVID-19 pandemic. In response, the government introduced various relaxations for Goods
GST changed compliance, cash flow and market access for India’s SMEs. This guide explains how GST affects small and medium enterprises, from the composition scheme and input tax credit to registration thresholds and filing obligations. Small and Medium Enterprises (SMEs) have long been recognised as a key engine of economic growth in India. With approximately
Under GST, the input tax credit (ITC) claim deadline is set by Section 16(4): you can claim ITC for a financial year up to 30 November of the following year or the date of filing the annual return, whichever is earlier. The credit must also appear in your GSTR-2B, be backed by a valid invoice,
India’s Goods and Services Tax (GST) collections for August 2025 reached Rs 1,86,315 crore, as officially disclosed on September 1, 2025 by the GST Network. While this represents a decrease from the Rs 1,95,735 crore collected in July 2025, the August figure still reflects a healthy 6.5% year-over-year growth compared to Rs 1,74,962 crore in
India’s Goods and Services Tax (GST) collections reached Rs 1,57,090 crore in May 2023, a 12% increase over the previous year. This performance continued the trend of robust collections, with monthly figures consistently above Rs 1.4 lakh crore for 14 consecutive months. Notably, May 2023 represented only the fifth instance since GST’s introduction in 2017
India’s Goods and Services Tax (GST) revenue reached Rs 1,60,122 crore in March 2023, showing a strong recovery from the previous month’s Rs 1,49,577 crore. This marked the second-highest monthly collection since April 2022 and represented 13% year-over-year growth from March 2022. March 2023 also witnessed the highest number of GST returns ever submitted, highlighting
India’s Goods and Services Tax (GST) collections for the calendar year 2024 reached an unprecedented Rs 21.36 lakh crore, marking the highest collection since the tax system’s inception in 2017. This represents an 8.86% increase over the Rs 19.62 lakh crore collected in 2023. The record figures reflect the growing effectiveness of GST reforms, improved
The GST Council failed to reach a consensus on the contentious issue of dual control over taxpayers during its ninth meeting. The Finance Minister could not secure agreement among states regarding revenue sharing and the division of administrative powers, making the planned April 1, 2017, GST implementation date unachievable and forcing the government to set
GST collections for March 2025 reached Rs. 1,96,141 crore, representing a 9.9% year-on-year growth from Rs. 1,78,484 crore in March 2024. The GSTN published this data on April 1, 2025, showing an increase from Rs. 1,83,646 crore collected in February 2025. Maharashtra maintained its position as the top contributing state. Overview of March 2025 GST
India’s GST collections for November 2023 totalled Rs. 1,67,929 crore, up 15% year-on-year. While this was slightly below the Rs.1,72,003 crore collected in October 2023, it marked the highest YoY growth rate for FY 2023-24 and the sixth instance of collections exceeding Rs.1.60 lakh crore in the fiscal year. Breakdown of November 2023 GST Collections
India’s Goods and Services Tax (GST) collections for January 2024 reached Rs 1,72,129 crore, up from Rs 1,64,882 crore in December 2023. This figure represents the second-highest monthly collection since GST was first implemented in July 2017, and the third-highest for fiscal year 2023-24. The 10.4% year-over-year revenue growth demonstrates the continued strengthening of India’s
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