Page-2 of IGST
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 ..
Month: Current Affairs - April, 2021
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 ..
Month: Current Affairs - June, 2020
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 ..
Month: Current Affairs - September, 2019
IAF asked to pay Rs 100 crore GST bill for import of spares
The Indian Air Force which is facing fast depleting squadrons and is yet to induct aircraft in significant numbers to keep up with falling fleet numbers is now facing issues in the import of spare parts for its existing fighter ..
1 July: GST Day
1st July 2019 is being celebrated as GST (Goods & Services Tax) Day. This year marks the 2nd anniversary of implementation of historic tax reform of Goods & Services Tax. Background First GST Day was celebrated on 1 July 2018, ..
Month: Current Affairs - July, 2019
GST Revenue Touches Record High in March
The statement from the Finance Ministry states that GST collections scaled to a record high of Rs 1.06 trillion in March. The revenue collection was Rs 97,247 crore in the month of February. Record Revenue Mobilisation The record revenue collection ..