Current Affairs

GK MCQs Section

Topic: Goods and Service Tax

GST Revenues in February

The February 2022 collection of GST (Goods and Services Tax) stood at Rs. 1,33,026 crores which is 18 per cent higher than February 2021. This year’s collection was...

March 2, 2022

What is 1% Cash Payment Norm in GST?

The Department of Revenue recently announced that the GST tax payers should compulsorily pay at least 1% of their tax in cash. This is to come into effect...

December 28, 2020

Businesses, with an annual turnover of up to Rs 40 lakh are exempted from GST

The Finance Ministry of the Government of India has declared in a series of statements that Businesses with an annual turnover of up to Rs 40 lakh will...

August 25, 2020

Aadhaar authentication for new GST registration activated

Aadhaar authentication has been activated by the Government for the registration of new goods and services tax, which will provide an impetus for the enhancement of ease of...

August 24, 2020

Govt. notifies e-invoicing for companies with Rs 500-crore turnover

The government has notified an e-invoicing system under the Goods and Services Tax regime which makes it compulsory for the large-scale businesses with a turnover of more than...

August 1, 2020

Government approves Monthly Pension Scheme for Traders

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved Rs.3000 monthly pension scheme for small retail traders and shopkeepers after they attain the age of...

June 1, 2019

GST Revenue Touches Record High in March

The statement from the Finance Ministry states that GST collections scaled to a record high of Rs 1.06 trillion in March. The revenue collection was Rs 97,247 crore...

April 2, 2019

RBI Governor bats for Permanent Status to Finance Commission

Reserve Bank of India (RBI) governor Shaktikanta Das called for permanent status to Finance Commission.  RBI Governor Shaktikanta Das is also the member of the fifteenth finance commission....

March 21, 2019

GST collection increases to one lakh crore in January

The data from the Ministry of Finance shows that goods and services tax collections stood at Rs. 1,02,503 crore in the month of January. Of the Rs. 1,02,503 crore GST revenue,...

February 4, 2019

Revenue Mobilisation: Interim Budget 2019

The interim budget has announced a slew of welfare measures for farm and rural economy, middle class, realty and housing and the unorganised sector. The burden on the...

February 2, 2019

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