Indirect Tax Current Affairs, GK & News

Stamps released to commemorate contribution of Directorate of Revenue Intelligence

On December 26, 2019, Union Finance Minister Smt. Nirmala Sitaraman released postage stamps to commemorate the services of Directorate of Revenue Intelligence (DRI) in order to protect the nation. Significance DRI plays an immense role to counter smuggling and preserve cultural heritage and environment of the country. It is essential for DRI to keep pace ..

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India’s Path of Fiscal Consolidation

Concerns of the slowing down economy, need to pump capital to revive job creation had led to speculation that the Finance Minister would deviate from the path of fiscal consolidation. Contrary to popular beliefs the Finance Minister has chosen to stick to the gilded path. The budgetary estimate aims at bringing down the deficit to ..

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Key Highlights of Union Budget 2019-20 (Part 2)

TAXES Direct Taxes Performance: India’s Ease of Doing Business (EDB) ranking under ‘Paying Taxes’ category jumped from 172 in 2017 to 121 in 2019. In past 5 years, Direct tax revenue increased by over 78% to Rs. 11.37 lakh crore Tax Slabs: For companies with annual turnover of up to Rs.400 crore, Tax rate reduced ..

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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, as to mark the first anniversary of new indirect tax regime i.e. Goods and Services ..

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2 years of GST

The landmark one-nation, one-tax reform, the Goods and Services Tax (GST) was introduced on July 1, 2017. In its two year journey, it has shown some hiccups, a little more challenges and a lot of potential for future growth. What is GST? The Goods and Services Tax is a destination based, value-added tax on the ..

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