Page-17 of GST
GST Council fixes 4-rate structure
The GST Council has finalised 4 tier Goods and Services Tax (GST) rate structure with a multiple-slab rates, including the cess for the new indirect tax regime. Thus, GST will be levied at multiple rates ranging from 0% to 28%. ..
Month: Current Affairs - November, 2016
Union Government proposes 4 GST slabs
The Union Government has proposed a four-slab rate structure for the new indirect tax regime i.e. Goods & Services Tax (GST) ranging from 0 to 26 per cent. It was proposed at the meeting of the GST Council headed by ..
Month: Current Affairs - October, 2016
Adoption of GST tax will boost India's medium-term growth: IMF
The International Monetary Fund (IMF) has asserted that adoption of GST (Goods and Services) tax will boost India’s medium-term growth. It was mentioned IMF’s latest Asia Pacific regional economic update. It mentioned that India has shown progress on reforms that ..
Month: Current Affairs - October, 2016
CCEA approves implementation of Project SAKSHAM for CBEC’s GST integration
The Cabinet Committee on Economic Affairs (CCEA) under the chairmanship of Prime Minister Narendra Modi has approved ‘Project SAKSHAM’. The Project SAKSHAM is a New Indirect Tax Network (Systems Integration) of the Central Board of Excise and Customs (CBEC). It ..
Month: Current Affairs - September, 2016
GST council sets exemption threshold for tax at Rs.20 lakh
The first meeting of Goods & Services Tax (GST) Council has decided to exempt businesses with annual turnover below Rs.20 lakh out of the GST net. The meeting was presided by Union Finance Minister Arun Jaitley in New Delhi and ..
Month: Current Affairs - September, 2016
Union Cabinet approves formation of GST Council
The Union Cabinet has approved the process, formation and functioning of the Goods and Services Tax (GST) Council as per the Article 279A of the Constitution. Decision in this regard was taken by the Union Cabinet meeting chaired by Prime ..