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

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

Topics: Central GST • CGST • Goods and Service Tax • GST • IGST • Integrated GST • Revenue Mobilisation • SGST • State GST

GST collection increases to one lakh crore in January

The data from the Ministry of Finance shows that goods and services tax collections stood at Rs. 1,02,503 crore in the month of January. Of the Rs. 1,02,503 crore GST revenue, Central GST is Rs 17,763 crore, State GST (SGST) is Rs 24,826 crore, Integrated GST (IGST) is Rs 51,225 crore (including Rs. 24,065 crore collected on imports) and Cess ..

Month: Current Affairs - February, 2019

Topics: Cess • CGST • Goods and Service Tax • IGST • Revenue from GST • SGST