GoI facilitates filling of NIL GST Return through SMS

The Government of India has allowed taxpayers to fill their NIL GST monthly reurn form through SMS. This will improve ease of GST compliance to more than 22 lakh taxpayers. Highlights The facility of filing the NIL form through SMS has been made available in GSTN portal. The portal also allows the users to track ..

Month: Current Affairs - June, 2020

Category: Economy & Banking Current Affairs

Topics: CGST • Constitutional amendment • GST • GST Council • GSTN • Simplified Tax Return Filing System • Union Finance Minister

RBI Board recommends aligning of accounting year with fiscal year from 2020-21

The current accounting year of the Reserve Bank of India (RBI) is July-June. Recently, the Central Board of Directors of the RBI recommended to align the accounting year of RBI with the financial year of the government (April-March), from 2020-21. The RBI board announced this proposal at its 582nd meeting and approved to forward the proposal ..

Topics: Financial year • Reserve Bank of India • Union Finance Minister

Prime Minister invites citizens to share ideas and suggestions for Union Budget

The Prime Minister of India, Narendra Modi on Wednesday, January 8, 2020, has asked all citizens of the country to share their ideas and suggestions for the Union Budget 2019-20 that is scheduled to be presented by the Finance Minister of India, Nirmala Sitharaman on 1st February 2020. For submitting their ideas and suggestions, any ..

Month: Current Affairs - January, 2020

Topics: MyGov.in • Narendra Modi • Nirmala Sitharaman • Prime Minister of India • Union budget of India • Union Finance Minister

Rs. 5,908 crore Additional Central Assistance to 7 States

The Centre has approved the release of funds amounting to Rs.5908 crores to 7 states. The High-Level Committee today was chaired by the Union Home Minister Amit Shah in New Delhi. Uttar Pradesh, Himachal Pradesh, Assam, Madhya Pradesh, Maharastra, and Tripura are the states on the roll to receive the funds. The funds have been ..

Month: Current Affairs - January, 2020

Topics: Amit Shah • Assam • Himachal Pradesh • Madhya Pradesh • Maharashtra • New Delhi • Nirmala Sitharaman • NITI Aayog • Tripura • Union Finance Minister • Union Home Minister of India • Uttar Pradesh

Finance minister: MDR charges not applicable for RuPay and UPI from 2020

On December 28, 2019, Finance Minister Nirmala Sitaraman announced that Merchant Discount Rate (MDR) will not be applicable on bank transactions made through RuPay and UPI platforms. Highlights The Finance Ministry has directed the banks to start campaigns to popularize UPI and RuPay debit cards. Also, the banking companies with an annual turnover more than ..

Topics: BHIM • Debit cards • Digital currency • digital economy • Merchant Discount Rate • NEFT • QR code • Union Finance Minister