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dailystoryzz.com
Stock market
June 3, 2024
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Stock market hit exciting new high.

Today, the stock market hit exciting new highs as the Sensex and Nifty soared to record levels. This surge comes on the heels of exit polls indicating a potential landslide victory for the BJP-led NDA in the Lok Sabha elections, with projections suggesting over 350 seats out of 543. The Sensex jumped by a remarkable 2,778 points, nearly 4%, reaching an all-time high of 76,738.89. Similarly, the Nifty 50 surged by 808 points, also nearly 4%, setting a fresh record high of 23,338.70.

dailystoryzz.com
GST
June 2, 2024
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The total revenue from GST reached ₹1.73 lakh crore.

In May 2024, the total revenue from GST reached ₹1.73 lakh crore, marking a 10% increase compared to the previous year. This growth was mainly due to higher domestic transactions, which went up by 15.3%, despite a decrease in imports by 4.3%. After refunds, the net GST revenue for May 2024 stood at ₹1.44 lakh crore, showing a 6.9% increase from the same period last year. Here’s a breakdown of the GST collections for May 2024: For the financial year 2024-25 up to May 2024, the total GST revenue collection was ₹3.83 lakh crore, showing an impressive 11.3% growth. Despite a slight increase in imports by 1.4%, the growth was primarily driven by a strong increase in domestic transactions, up by 14.2%. After refunds, the net GST revenue for this period stood at ₹3.36 lakh crore, reflecting an 11.6% growth from the previous year. Breakdown of collections up to May 2024: In May 2024, the Central Government settled ₹38,519 crore to CGST and ₹32,733 crore to SGST from the net IGST collected of ₹67,204 crore. This resulted in a total revenue of ₹70,928 crore for CGST and ₹72,999 crore for SGST in May 2024, after regular settlement. Similarly, up to May 2024 in the financial year 2024-25, the Central Government settled ₹88,827 crore to CGST and ₹74,333 crore to SGST from the net IGST collected of ₹1,54,671 crore. This translated to a total revenue of ₹1,65,081 crore for CGST and ₹1,68,137 crore for SGST up to May 2024, after regular settlement. This data shows a positive trend in GST collections, indicating a robust economic activity despite challenges.