GST Current Affairs, GK & News

GST Collections November 2021

The GST revenue for the month of November 2021 was Rs 1,31,526 crores. This is the second highest collection since the introduction of GST in the country. The first highest collection was in April 2021. GST Collections The CGST was Rs 23,978 crores. The IGST was Rs 66,815 crores. Of this Rs 32,165 crores was ..

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Tamil Nadu -First state to cut petrol price by Rs. 3/litre

Tamil Nadu has become the first state in India to cut the petrol price in fiscal year 2021-22 by Rs 3/litre, providing a major relief to consumers. Key Points Price cut was announced by State Finance Minister Palanivel Thiagarajan during his budget speech on August 13 and it came into effect from August 14. It ..

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Govt. begins review of legal issues in GST

The Central Government has begun a review of the goods and services tax (GST) law so as to provide clarity on the various issues that have cropped up regularly since it implemented in the year 2017.   Highlights This review is being undertaken to clear the air on various issues such as whether the services ..

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Fin Min to issue appreciation certificates to GST payers

Union Finance Ministry has decided to issue certificates of appreciation to over 54,000 GST payers. Why certificates will be issued? Certification of appreciation will be issued for timely filing of returns and cash payment of tax and to mark fourth anniversary of historic tax reform Goods and Services Tax. About 66 crore GST returns have ..

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How will GST Exemption lead to Price rise?

The West Bengal Chief Minister recently requested the Prime Minister Narendra Modi to exempt COVID medicines and oxygen tanks from taxes. Several other states such as Odisha were also asking for tax exemption on key medicines. The Finance Minister Nirmala Sitharaman recently said that full exemption of Goods and Services Tax (GST) on Vaccines will ..

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