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. ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs - 2022
Topics: CGST • GST collection • GST Council • highest GST collection • IGST • SGST
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 ..
Month: Current Affairs - June, 2022
Category: Economy & Banking Current Affairs - 2022
Topics: Cess • CGST • Goods and services tax • IGST • SGST
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 ..
Month: Current Affairs - February, 2022
Category: Legal & Constitution Current Affairs
Topics: Central Board of Direct Taxes • CGST • GST • Karnataka • SGST
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 ..
Month: Current Affairs - January, 2020
Category: Economy & Banking Current Affairs - 2022
Topics: CBDT • CBIC • Central GST • CGST • GSTN • SGST • State GST • Tax
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 ..
Month: Current Affairs - July, 2019
Category: Important Days & Events Current Affairs
Topics: Anurag Thakur • Cash Ledger System • Central Board of Indirect Taxes and Customs • Central Goods & Services Tax • Cess • CGST • Goods and Service Tax Act • Goods and services tax • GST • GST Commendation Certificates • GST Day • GST for MSME • IGST • Indirect Tax • Integrated Goods & Services Tax • Minister of State for Finance and Corporate Affairs • SGST • State Goods & Services Tax
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 ..
Month: Current Affairs - April, 2019
Category: Economy & Banking Current Affairs - 2022
Topics: Central GST • CGST • Goods and Service Tax • GST • IGST • Integrated GST • Revenue Mobilisation • SGST • State GST