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Union Government launches Pradhan Mantri Vaya Vandana Yojana

20 hrs ago
Important for Exam: 3 people agreed

The Scheme can be purchased offline as well as online through Life Insurance Corporation of India which has been given the sole privilege to operate this scheme.

Finance Minister Arun Jaitley released National Trade Facilitation Action Plan

1 day ago
Important for Exam: 2 people agreed

The NTFAP aims to improve ease of doing business by improving investment climate through better infrastructure and doing away glitches that trouble businesses to perform well.

GST Council increases cess on cigarettes

3 days ago
Important for Exam: 4 people agreed

The cess was increased to make the total tax incidence on cigarettes in GST regime at par with the total tax incidence in pre-GST regime.

Railways Minister dedicates country's first solar powered DEMU train to nation

Jul 15, 2017
Important for Exam: 10 people agreed

India’s first 1600 HP solar-powered DEMU train was launched from Safdarjung railway station. It will run from Sarai Rohilla in Delhi to Farukh Nagar in Haryana.

Union Government forms Directorate to flag high-risk areas in Customs, GST

Jul 14, 2017
Important for Exam: 0 people agreed

The Directorate General of Analytics and Risk Management will function under the Central Board of Excise and Customs (CBEC) for data analytics and risk management.

GST Rates: Services by Educational Institution to students are exempted from Tax

Jul 14, 2017
Important for Exam: 1 people agreed

Denying the reports that GST@18% is levied on fees being charged for lodging hostels, the finance ministry said that there is no change in tax liability relating to education and related services in the GST era, except the reduction in tax rate on certain items of education.

DIPP to set up India’s first TISC in Punjab

Jul 14, 2017
Important for Exam: 2 people agreed

TISC offers several services like access to online patent and non-patent resources and assistance in searching and retrieving technology information among others.

Union Government launches new tax payer service module Aaykar Setu

Jul 11, 2017
Important for Exam: 5 people agreed

While launching the Aaykar Setu, Arun Jaitley stated that this e-initiative would help in reducing physical interface between assesses and tax assessing authorities and thereby minimizing the chances of any tax harassment.

Union Government exempts import of aircraft, aircraft engines from ambit of GST

Jul 10, 2017
Important for Exam: 2 people agreed

The aviation industry had been asking for relief as it was facing a dual levy of 5 per cent at the time of import and another 5 per cent at the time of payment of lease rent.

MRP on packaged consumer products to be same from January 1

Jul 7, 2017
Important for Exam: 7 people agreed

The Legal Metrology (Packaged Commodities) Rules, 2011 was amended to make manufacturers to sell a packaged product at same price across all platforms.

EPFO inks agreement with 5 banks to collect PF dues

Jul 6, 2017
Important for Exam: 8 people agreed

Before, only State Bank of India was authorised to collect contributions from employers and make payment to employees.

CGST won't apply on items not registered under trademark law

Jul 6, 2017
Important for Exam: 1 people agreed

The Registered Brand Name is defined as the brand name or trade name, which is registered under the Trade Marks Act, 1999.

Notify price increase through advertisement in two newspapers, if increased due to GST

Jul 5, 2017
Important for Exam: 2 people agreed

The manufacturers, traders and importers have been given a time till 30 September 2017 to sell out the pre-GST goods, i.e., stock lying with them prior to 1 July 2017.

Government listed 22 products for physically challenged persons at concessional GST rate of 5%

Jul 4, 2017
Important for Exam: 1 people agreed

Products to be made available at 5% concessional GST rates includes Braille writers and braille writing instruments & Optical, Environmental Sensors among others.

Free GST Facilitation Centres set up across Goa

Jul 4, 2017
Important for Exam: 0 people agreed

In Goa, the Office of the Commissioner of Commercial Taxes has set up GST facilitation centres in ward offices across the state and at the department’s head office in Panaji.

President Bashar Assad appears on Syrian Lira for first time

Jul 3, 2017
Important for Exam: 1 people agreed

The Syrian Central Bank has put into circulation a new 2,000 Syrian Lira ($3.9) banknote with the face of country’s current President Bashar Assad.

Hasmukh Adhia busts seven misconceptions about Goods and Services Tax (GST)

Jul 3, 2017
Important for Exam: 3 people agreed

Busting certain common misconceptions and myths about the new indirect tax regime GST, Adhia reiterated that businesses can continue to do business under GST with provisional ID number and businesses need not wait for Goods and Services Taxpayer identification number (GSTIN).

65 MoUs signed at Textiles India 2017

Jul 3, 2017
Important for Exam: 0 people agreed

MoUs were signed between various domestic and international organisations from industry and government; three of the MoUs signed are G2G MoUs.

GST rollout: India launches historic indirect tax regime GST after 17 years of debate

Jul 1, 2017
Important for Exam: 28 people agreed

With effect from 1 July 2017,  GST is expected to completely transform the Indirect Taxation landscape in the country involving both the Central and State levies.

Asian Development Bank has pledged USD 10 billion for development projects in India

Jun 30, 2017
Important for Exam: 4 people agreed

The Asian Development Bank (ADB) has committed USD 10 billion support for infrastructure building and immediate development needs of less-developed states in India.

PAN card won't be invalid if not linked with Aadhaar by 1 July: IT Department

Jun 30, 2017
Important for Exam: 0 people agreed

After 1 July 2017, the linking will become mandatory and the Union Government will declare a date after which the PAN which is not linked to Aadhaar will become invalid.

NSSO releases report titled Key Indicators of Unincorporated Non-Agricultural Enterprises in India

Jun 30, 2017
Important for Exam: 1 people agreed

The survey was designed to generate various estimates on the operational and economic characteristics of the unincorporated non-agricultural enterprises in industry sectors of manufacturing, trading and other services.

On the stroke of midnight, India will wakeup to GST & What you should know about it?

Jun 30, 2017
Important for Exam: 1 people agreed

When the clock ticks 12 tonight, Prime Minister Narendra Modi will unveil the new tax regime unifying the country's USD 2 trillion economy and 1.3 billion people into a common market.

Union Government launched new bidding mechanism for mega oil and gas auctions

Jun 29, 2017
Important for Exam: 5 people agreed

Arun Jaitely, Union Finance Minister, and Dharmendra Pradhan, Union Petroleum Minister, launched both the initiatives in a mega event in New Delhi.

7th CPC on allowances: Find approved recommendations

Jun 29, 2017
Important for Exam: 1 people agreed

The government in its notification says that it has shown a great deal of fiscal prudence and also addressed the genuine concerns of the employees and responded to some of the administrative exigencies necessitating the modifications.

India, World Bank sign USD 35 million agreement to enhance efficiency in tax administration in Assam

Jun 28, 2017
Important for Exam: 0 people agreed

The objective of the project is to improve predictability and transparency in budget execution and efficiency in tax administration in Assam.

India's policy panel proposes to break up of Coal India into 7 firms

Jun 28, 2017
Important for Exam: 2 people agreed

India should split the seven units of state-controlled Coal India Ltd into independent companies to make it more competitive, the government's policy think-tank said on Tuesday in a draft of a new energy policy.

18 sections, 2 rules for GST notified

Jun 21, 2017
Important for Exam: 8 people agreed

The new tax reform is a step is for the betterment of the economy will help in unifying more than a dozen of central and state levies into one.

CBDT notifies Rule 10CB for Secondary Adjustments under Section 92CE of IT Act, 1961

Jun 20, 2017
Important for Exam: 1 people agreed

The provision also prescribe the rate of interest for computing the income in case of failure to repatriate the excess money within the prescribed time limit.

Black money: Switzerland ratifies automatic exchange of information with India

Jun 18, 2017
Important for Exam: 2 people agreed

Switzerland has ratified the automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details of suspected black money.

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