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GST collection cheer; milk prices not to rise more; Tata moves SC against Cyrus Mistry

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The December 2019 collection stood at Rs 1,03,184 crore and while it was close to November collection, the GST collection soared 9% as compared to the same period in 2018. (Reuters)

The Goods and Services Tax collection may have brought some cheer for the government, managing to stay above Rs 1 lakh crore for the second month in a row. GST collection in December 2019 at Rs 1,03,184 crore was similar to what the government garnered in November, but rose 9% on-year. The GST collection could not breach Rs 1-lakh-crore mark in the preceding two months September-October of 2019. However, even after reaching Rs 1-lakh-crore mark, the collections are neither up to the run rate required for the Centre to meet its own GST budget, and nor adequate for the Centre to fully compensate for the states’ revenue shortfall. Meanwhile, the new year has brought some good news for household budget as the milk prices are not likely to take another price hike soon, despite anticipation for the same, Amul and another dairy player Aadvik Foods told Financial Express Online. Also, onion prices are also set to cool off by the end of this month with the late Kharif produce hitting the market. In other major corporate development, Tata Sons on Thursday said that it has moved the Supreme Court challenging the NCLAT order reinstating Cyrus Mistry as the group chairman. We bring to you live updates.

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