Goods and services tax: GK, Current Affairs, Questions, Trivia and News

GST rates increased for mobile phones

The Goods and Services Tax Council chaired by the Union Finance Minister announced that it has decided to increase GST rates on mobile phones to 18 per cent from 12 per cent with effect from 1st of April. The Council also waived the late fee for delayed filing of annual returns for the financial years ..

GOI partners with Infosys to improve GST Filling Portal

To improve the performance of the Goods and Services Tax Network (GSTIN) filling portal, The Government of India has entered into a partnership with Infosys, which has been managing the Goods and Service Tax regime as the service provider in the country. The technological measures adopted under the partnership will be announced in April 2020. ..

2nd National GST Conference of Central & State Tax Commissioners

Under the chairmanship of Revenue Secretary of Ministry of Finance, Dr. Ajay Bhushan Pandey, The 2nd National GST Conference of the Commissioners of State Tax and Chief Commissioners of Central Tax held on Tuesday, 7th January 2020, where the conference concentrated for streamlining Goods and Services Tax (GST) system and blocking up revenue leakages. Among ..

GST Revenue Collection during December 2019

The Goods and Services Tax (GST) revenue collection for the month of December 2019 has shown a growth of 16% as compared to that from the previous year in December 2018. A total of Rs 1,03,184 crore has been collected as GST revenue in the month of December 2019. The breakdown of the collection: Central ..

 Finance Commission suggests GST Council for Three Slabs

The fifteenth Finance Commission headed by Retired IAS officer Nand Kishore Singh is about to commence its tenure of 5 years from 1st April 2020- 31st  March 2025. The commission constituted on 27th November 2017 will recommend fiscal matters and tax devolution formula to the Central Government over its tenure. On Sunday, 23rd December 2019 ..

GST Stakeholder Feedback Diwas

The Authorities of Central Goods and Services Tax (GST) and State GST will be organizing a nationwide GST Stakeholder Feedback Diwas today, 7th December 2019. The Feedback Diwas is on getting an on the spot response and thoughts on the new GST Returns which will be introduced from 1st April 2020. The feedback sessions will ..

GST Revenue Collection Report for November 2019

According to a report published by the Ministry of Finance, Gross Goods and Services Tax(GST) revenue collected in November was Rs 1,03,492 crore out of which  Central GST (CGST) is around Rs 19,592 crore, State GST (SGST) of Rs 27,144 crore, Integrated GST (IGST) of Rs 49,0287 crore including Rs 20,948 crore collected from imports, ..

Recommendations of Task Force on Simplification of Direct Tax

The task force on simplification of direct tax legislation headed by Central Board of Direct Taxation (CBDT) member Akhilesh Ranjan has recommended major changes in personal income tax slabs. Recommendations of the Task Force Continuation of the minimum exemption limit of Rs 2.5 lakh per annum. Continuing the tax rebate announced in the interim budget ..