URL copied Image Source : FILE PHOTO
Revenue Secretary Tarun Bajaj said the economy has not suffered as much this year amid the second wave of COVID-19 as compared to last year when there was complete lockdown. (Representational image)
Revenue Secretary Tarun Bajaj on Friday said the economy has not suffered as much this year amid the second wave of COVID-19 as compared to last year when there was complete lockdown.
He further said if Rs 1.10 lakh crore gets collected every month on average through the Goods and Services Tax (GST), then the states GST revenue deficit would be around Rs 1.5 lakh crore this fiscal.
The government on Monday waived Integrated GST (IGST) till June 30 on import of Covid-relief material received as a donation, a move that will speed up customs clearances for such imports, including those by charitable organisations.
The Finance Ministry in a statement said the government had received several representations from charitable organisations, corporate entities, and other associations outside India seeking exemption from IGST on the import of Covid-19 relief material donated/received free of cost from outside India for free distribution.
“Accordingly, the Central Government has.granted exemption from IGST on import of such goods received free of cost for free distribution for covid relief, it said, adding the exemption would be applicable till June 30.