Lockdown won GST collection by 5% over last year,


BanglaHunt Desk: The whole country is already stunned because of Coroner. The third largest economy in the world. Besides, for the first time in the last four months, the collection of Goods and Services Tax (GST) has fallen below Tk 1 million. In March 2021, the Government of India earned only Rs 97,597 crore from GST. GST collection for March this year is 8.4 per cent lower than March 1.09 lakh crore in 2019. Earlier, Tk 1.05 lakh crore was received in February, Tk 1.10 lakh crore in January and Tk 1.5 lakh crore on December 27.

Meanwhile, India's economic downturn in the wake of the lockdown is almost stagnant, as well as a report by a private company, Manufacturing Sector Growth, the lowest in the last 4 months.

A survey by that company reveals that the 54.5 Purchasing Manager Index or PMI for February fell 51.8 in March. The company, called IHS Market, was conducting the survey on the basis of new order job delivery times and reserves over 400 companies.

Eliot Kerr, the economist at the firm, said the most obvious signs of trouble for Indian manufacturers have come from new export orders and indicators of future activity, respectively, indicating lower global demand and softening domestic confidence.

Top indicators show substantial impact of the Covid-19 outbreak on the economy. In March, India's Goods and Services Tax (GST) collection dropped below $ 1 trillion – a target of $ 1.25 trillion this month. India's largest car maker Maruti Suzuki India Limited's domestic vehicle sales fell 5% in March due to a nationwide lockdown

General Chat Chat Lounge