CGST Current Affairs, GK & News

How will GST Exemption lead to Price rise?

The West Bengal Chief Minister recently requested the Prime Minister Narendra Modi to exempt COVID medicines and oxygen tanks from taxes. Several other states such as Odisha were also asking for tax exemption on key medicines. The Finance Minister Nirmala Sitharaman recently said that full exemption of Goods and Services Tax (GST) on Vaccines will ..

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0% IGST on Import of Covid-related relief material

The Government of India recently waived the Integrated GST till June 30, 2021. This included Remdesivir, Beta cyclodextrin, medical grade oxygen, oxygen concentrators, cryogenic transport tanks, etc. Conditions The Government of India has provided exemptions under the following conditions: A Nodal Authority should be appointed by the State Government in accordance with the Central Goods ..

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GST Council meet

On June 12, 2020, the Finance Minister Nirmala Sitaraman chaired the 40th GST Council Meet. Highlights The minister at the meet announced that no late fee will be charged from the taxpayers (small taxpayers) that had filed GST returns between July 2017 and January 2020. This is being done as there is lot of GST ..

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GoI facilitates filling of NIL GST Return through SMS

The Government of India has allowed taxpayers to fill their NIL GST monthly reurn form through SMS. This will improve ease of GST compliance to more than 22 lakh taxpayers. Highlights The facility of filing the NIL form through SMS has been made available in GSTN portal. The portal also allows the users to track ..

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Second National GST Conference of Central and State Tax Commissioners held

On January 7, 2020, the second National GST Conference and Central and State Commissioners was held to streamline the Goods and Services Tax. The Revenue Secretary of Ministry of Finance Dr Ajay Bhushan Pandey was the Chairman of the conference Key Takeaways A Committee is to be constituted with central and state officers. The Committee ..

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