IGST Current Affairs, GK & News
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 ..
Month: Current Affairs - May, 2021
Category: Economy & Banking Current Affairs
Topics: CGST • COVID-19 vaccine • GST • IGST • Mamata Banerjee • Nirmala Sitharaman • PM Modi
0% IGST on Import of Covid-related relief material
The Government of India recently waived the Integrated GST till June 30, 2021. This included Remdesivir, Beta cyclodextrin, medical grade oxygen, oxygen concentrators, cryogenic transport tanks, etc. Conditions The Government of India has provided exemptions under the following conditions: A Nodal Authority should be appointed by the State Government in accordance with the Central Goods ..
Month: Current Affairs - April, 2021
Category: Economy & Banking Current Affairs
Topics: CGST • COVID-19 • GST • GST Council • IGST • Remdesivir
IGST on Import of Oxygen Concentrators reduced
The Ministry of Finance recently cut the IGST on import of oxygen concentrators for personal use to 12%. Earlier it was 28%. IGST is Integrated Goods and Services Tax. The decision was announced by the Central Board of Indirect taxes and Customs. The changes are being made in accordance to the IGST Act, 2017. Constitutional ..
Month: Current Affairs - April, 2021
Category: India Nation & States Current Affairs
Topics: Central Board of Indirect Tax and Customs • exports • IGST • imports • medical oxygen • oxygen concentrator • Oxygen Express • Oxygen Generation Plants • oxygen plants • oxygen shortage
GST Council meet
On June 12, 2020, the Finance Minister Nirmala Sitaraman chaired the 40th GST Council Meet. Highlights The minister at the meet announced that no late fee will be charged from the taxpayers (small taxpayers) that had filed GST returns between July 2017 and January 2020. This is being done as there is lot of GST ..
Month: Current Affairs - June, 2020
Category: Economy & Banking Current Affairs
Topics: Central GST • CGST • GST • GST collection • GST Council • IGST • nirmala sitaraman
GSTN to make Aadhaar authentication mandatory for new dealers from January 2020
The Goods and Services Tax (GST) Network has decided to make Aadhaar authentication or physical verification mandatory for new dealers from January 2020 so as to check malpractices in GST. Aadhaar authentication was earlier optional. The announcement in this regard was made by Deputy Chief Minister of Bihar Sushil Kumar Modi, who heads the Group ..
Month: Current Affairs - September, 2019
Category: Economy & Banking Current Affairs
Topics: Aadhaar authentication • CGST • Goods and services tax • Group of Ministers of GST Network • GST Network • IGST • Section 8 of Companies act 2013