Page-3 of GST Council Current Affairs, GK & News
In a first, GST Council fixes 28% uniform tax rate for lottery
In a first, the Goods and Services Tax (GST) Council meeting resorted to voting to decide on an issue, as all the earlier decisions by GST Council had been taken through consensus. The controversial issue of GST rate for lotteries was decided on basis of voting, with the GST Council headed by Finance Minister Nirmala ..
Month: Current Affairs - December, 2019
Category: Economy & Banking Current Affairs
Topics: GST Council • GST Rates • input tax credit • Lottery • Nirmala Sitharaman
Finance Minister chairs GST Council Meeting
On December 18, 2019, Finance Minister Nirmala Sitaraman chaired the GST Council Meeting in New Delhi. The meeting was held to address the backdrop of falling collections for the current fiscal. Highlights For the first time, the council has used voting process and has voted to tax lotteries under the highest slab of 28%. The ..
Month: Current Affairs - December, 2019
Category: Economy & Banking Current Affairs
Topics: Central GST • GST • GST collection • GST Council • GST Rates • State GST
Panel to revive GST Collections
The GST collection in September 2019, dropped sharply to a 19-month low. This reflects the widening slowdown of the economy. The tax collections were Rs 91,916 crore in September. This was 2.67% less as compared to September 2018. GST Collection The Gross GST collection in September 2019 comprises of Rs 16,630 crore collection of CGST ..
Month: Current Affairs - October, 2019
Category: Economy & Banking Current Affairs
Topics: Finance Minister • GST • GST collection • GST Council • Tax • Tax collection
Cess for Disaster Relief
The rapidly changing climate and the rising temperatures have led to a spate of floods, droughts, and other natural disasters. Not only do the natural disasters cause the loss of life and limb, but cause loss of public and private property, damage the economic potential of the region, cause a drag on the economy of ..
Category: Economy & Banking Current Affairs
Topics: Bonds • Cess • Disaster Relief • GST • GST Council • Rescue
Electric Vehicles in India
India is an oil deficient country. It is thus forced to import most of the crude oil it uses ( nearly 80%) from other countries. This creates a problem for India, both fiscally and for domestic security. The government is exploring various methods like ethanol blending, improved oil recovery from Indian Oil fields and adding ..
Topics: Automobiles • Cars • Electric Cars • GST • GST Council • Jobs