compensation cess Current Affairs, GK & News
On October 12, 2020, the Finance Minister Nirmala Sitaraman chaired 43rd GST Council Meet. The council for the third time discussed the issue of revenue shortfall of states. Before the meet, the minister announced a slew of economic measures to boost consumer demand in the country. Key Highlights The meet ended without conclusions. Majority of ..
Category: Economy & Banking Current Affairs
The Union Cabinet has given its approval to the proposal of Union Finance Ministry to promulgate an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017. The approval will allow GST Council to hike the maximum rate of compensation cess levied from the current cap of 15% to 20%. The ..