Question
The collection of goods and services tax (GST) was
highest in April 2022 as Rs 1.68 trillion, what is the collection of GST for May 2022.Solution
Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. The finance ministry released the provisional data on GST for May 2022. The collection of goods and services tax (GST) was Rs 1.41 trillion (₹1,40,885 crore) in May. It was 16 per cent (Rs 26,655 crore) lower than the record collection of Rs 1.68 trillion in April. However, the latest figure is 44 per cent higher than Rs 97,821 crore a year ago. Also, the mop-up in May is still the fourth-highest since the inception of GST in July 2017.
Which of the following agencies recently has been taken under the ambit of Integrated Ombudsman Scheme
Which of the following is not a derivative?
ABC Inc’s Income statement shows a sale of Rs 2000, COGS of Rs 800, Pre-Interest Operating Expenses of Rs 600 and Interest expenses of Rs 200. Intere...
A firm raises 1000000 by issuing common equity, which of the following financial statements will reflect the transactions?
If the cost of machinery is Rs.5 lakh, the life of the machinery is expected to be 5 years, and rate of depreciation is 10%, what will be the differenc...
What is the Additional Common Equity Tier 1 requirement as a percentage of Risk-Weighted Assets (RWAs) for SBI (as it’s a systemically important B...
Small Finance Banks play an important role for financial inclusion. How much loans they have to extend to the priority sectors?
Which of the following is an advantage of a matrix organization?
Which of the following measures the time decay on option premium?
Small Finance Banks’ (SFB) major goal is to promote and provide banking services to the underbanked and underprivileged segments of society, the prop...
Relevant for Exams:
