SGST Current Affairs, GK & News

GST Collection in January

The GST collection has been increasing in recent times. The three main reasons for the hike in GST collection are decisions made by GST Council, changes made in tax collection, and rising inflation. The highest GST Collection was achieved in the month of April 2022. GoI collected Rs 1.68 lakh crores GST in that month. ..

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GST Collections in May 2022

In the month of May 2022, the Goods and Services Tax (GST) revenue stood at around Rs 1.41 lakh crore. This is a 44 percent increase in comparison to May 2021. The GST collection in May was lower than what was recorded in April 2022 which stood at Rs 1.68 lakh crore. The GST collections ..

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AAR Ruling: GST on Guest Lectures

The Authority for Advance Ruling (AAR) of the Karnataka bench has ruled that 18 percent GST will be levied on the income that is earned from providing guest lectures. Overview: The petitioner contacted the AAR to obtain clarification as to whether income earned from guest lectures will attract any form of taxation. In passing the ..

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Second National GST Conference of Central and State Tax Commissioners held

On January 7, 2020, the second National GST Conference and Central and State Commissioners was held to streamline the Goods and Services Tax. The Revenue Secretary of Ministry of Finance Dr Ajay Bhushan Pandey was the Chairman of the conference Key Takeaways A Committee is to be constituted with central and state officers. The Committee ..

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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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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 was attributed to increased compliance and increase in the number of returns filed. Total gross GST revenue ..

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