GST rate Current Affairs, GK & News
Group of ministers to rationalise GST rates
Government has tasked a group of ministers (GoM) headed by Chief Minister of Karnataka, Basavaraj S. Bommai to propose a rationalisation of tax rates and consider the merger of different tax slabs within two months. Highlights With the move, the government seeks to set the stage for an overhaul of the multiple tax rates under ..
Month: Current Affairs - September, 2021
Category: Economy & Banking Current Affairs
Topics: Goods and Services Tax (GST) • Group of ministers (GoM) • GST rate • GST rate cut • Rationalisation of tax rates
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 enjoy GST exemption. Previously the threshold limit was Rs 20 lakh. Key highlights During the commemoration ceremony of the first death anniversary of former Finance Minister Arun ..
Month: Current Affairs - August, 2020
Category: Economy & Banking Current Affairs • Government Schemes Current Affairs • India Nation & States Current Affairs
Topics: Arun Jaitley • Goods and Service Tax • GST • GST rate • Ministry of Finance
New Delhi hosted 34th GST Council meet on GST rate
The 34th GST council meet was held on 19th March, 2019 at New Delhi. The meeting was held to decide on modalities for GST applicability on Real Estate Sector. The meeting has discussed the operational details for implementation of the recommendations made by the council in its 33rd meeting for lower effective GST rate of 1% in case ..
Topics: Cities in Asia • Geography of India • Goods and services tax • GST rate • Modi administration • New Delhi • Subdivisions of India • Taxation in India