GST collections for March 2024 hit second-highest report degree of Rs 1.78 lakh crore; FY24 mop up crosses Rs 20 lakh crore

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what is DMA (Direct Market Access)in the Indian share market?

What is DMA?

DMA, or Direct Market Access, is a service offered by stockbrokers that allows traders to place orders directly on the stock exchange’s order book. It eliminates the need for intermediaries, such as market makers or brokers, and provides traders with direct access to the market. This means that orders are executed faster and at potentially better prices.

How Does DMA Work in the Indian Share Market?

In the Indian share market, DMA is facilitated through the use of technology and trading platforms provided by stockbrokers. Traders can access the market through these platforms, which connect them directly to the stock exchange.

Benefits of DMA in the Indian Share Market

1. Speed and Efficiency: DMA enables faster order execution as orders are placed directly on the exchange’s order book. This can be particularly advantageous in volatile market conditions where every second counts.

Conclusion

DMA, or Direct Market Access, is a powerful tool that allows traders to directly access the stock exchange’s order book. In the Indian share market, DMA offers numerous benefits, including speed, transparency, control, lower costs, and access to real-time market data. By utilizing DMA, traders can enhance their trading experience and potentially improve their trading outcomes.

GST Collections March 2024: In a lift for the financial system, the gross Items and Providers Tax (GST) collections for the month of March got here in on the second highest ever degree of Rs 1.78 lakh crore. That is an 11.5% year-on-year progress, in accordance with the Ministry of Finance.This improve was primarily fueled by a major uptick in GST assortment from home transactions, rising by 17.6%.The online GST income, after refunds, stood at Rs 1.65 lakh crore for March 2024, reflecting an 18.4% progress in comparison with the identical interval final 12 months.The total 12 months complete gross GST assortment surpassed Rs 20 lakh crore, representing an 11.7% improve over the earlier fiscal 12 months. The typical month-to-month assortment for FY 2023-24 stood at Rs 1.68 lakh crore, exceeding the earlier 12 months’s common of Rs 1.5 lakh crore, the discharge mentioned.The online GST income, excluding refunds, reached Rs 18.01 lakh crore as of March 2024 for the present fiscal 12 months, indicating a progress of 13.4% over the identical interval final 12 months.Optimistic tendencies have been noticed throughout numerous elements of GST assortment for March 2024. The breakdown contains:Central Items and Providers Tax (CGST): Rs 34,532 croreState Items and Providers Tax (SGST): Rs 43,746 croreIntegrated Items and Providers Tax (IGST): Rs 87,947 crore, together with Rs 40,322 crore collected on imported goodsCess: Rs 12,259 crore, together with Rs 996 crore collected on imported goodsSimilar constructive tendencies have been evident within the general collections for FY 2023-24:Central Items and Providers Tax (CGST): Rs 3,75,710 croreState Items and Providers Tax (SGST): Rs 4,71,195 croreIntegrated Items and Providers Tax (IGST): Rs 10,26,790 crore, together with Rs 4,83,086 crore collected on imported goodsCess: Rs 1,44,554 crore, together with Rs 11,915 crore collected on imported goodsIn March 2024, the Central Authorities settled Rs 43,264 crore to CGST and Rs 37,704 crore to SGST from the IGST collected. This resulted in complete revenues of Rs 77,796 crore for CGST and Rs 81,450 crore for SGST after common settlement. For FY 2023-24, the central authorities settled Rs 4,87,039 crore to CGST and Rs 4,12,028 crore to SGST from the IGST collected.Traits in month-to-month gross GST revenuesThe above chart depicts the tendencies in month-to-month gross GST revenues.In accordance with Abhishek Jain, Oblique Tax Head & Companion, KPMG, A 17.6 % progress in assortment in March from home transactions signifies sturdy home financial progress and provides vital cheer to the general elevated collections. “Also, the average monthly collections increasing by approximately 18000 crores this year indicates robust growth story and recovery,” he says.

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