Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty. CBDT further extends the time for Linking PAN with Aadhaar till 30th June, 2018.

GST mop-up at Rs 94,016 crore in May

The mop-up from Goods and Services Tax (GST) in May stood at Rs 94,016 crore, better than the monthly average collections last fiscal, but below the record Rs 1.03 lakh crore collected in the previous month. However, as many as 62.47 lakh businesses filed their summary sales return GSTR-3B in May, higher than 60.47 lakh filed in April. Finance Secretary Hasmukh Adhia said that the total GST collection for May is higher compared to average monthly collection of Rs 89,885 crores of 2017-18. (PTI)

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