The Things You Should Know

  As per the data released by Ministry of Statistics & Programme Implementation. India's retail inflation for the month of May rises to   6.3 percent (Base 2012 = 100)  from previous month's 4.23 percent.  Inflation in rural area is recorded at  6.48  percent  against previous month's  3.75  percent   and in urban area CPI (Consumer Price Index) is recorded at  6.04  percent  against previous month's  4.71  percent . Stay tuned for more updates. Feel free to comment. This blog is now on  Telegam . For reports on Economics, Current Affairs and more, subscribe this blog on  Telegam . You may also like to Read: Index of Industrial Production Data | March 2021 http://politoeconomy.blogspot.com/2021/05/index-of-industrial-production-data.html GST Gross Revenue Collection | May 2021 http://politoeconomy.blogspot.com/2021/06/gst-gross-revenue-collection-may-2021.html April Retail Inflation at 4.29% ht...

Ministry of Finance has released the data of gross GST revenue collection for the month of May on 1st of June.  The gross GST revenue collected in the month of May , 2021 is  ₹ 1,02,709  crore  of which CGST is  ₹ 17,592  crore , SGST is  ₹ 22,653  crore , IGST is  ₹ 53,199   crore  (including  ₹ 26,002  crore  collected on import of goods) and Cess is  ₹9,265 crore  (including  ₹ 868  crore  collected on import of goods). The above figure includes GST collection from domestic transactions till 4 th  of June since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month May’21 in the wake of covid pandemic second wave. During this month the government has settled ₹ 15,014 crore to CGST and ₹ 11,653 crore to SGST from IGST as regular settlement. The revenues for the month of May 2021 are...