Forwarded from RBI ASSISTANT PREPARATION
๐๐ธ๐ฐGOODS AND SERVICES TAX ( GST) ๐ฐ๐ธ๐
๐Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services.
๐ The tax is included in the final price and paid by consumers at point of sale and passed to the government by the seller. The GST is a common tax used by the majority of countries globally.
๐In India, the idea of adopting GST was first suggested by the Atal Bihari Vajpayee Government in 2000.
โ๏ธGST Council constituted on - 15 September 2016
โ๏ธGST Implemented in India ๐ฎ๐ณ - 1st July 2017
โ๏ธGST is an - Indirect Tax ( Consumption based)
โ๏ธGST registration is - PAN based
โ๏ธGST council is headed by - Union Finance Minister ( Nirmala Sitharaman)
โ๏ธThe first committee to design GST model was headed by - Asim Das Gupta ( He is from West Bengal)
โ๏ธGST Council Article - 279A
โ๏ธGST Council consists of - 33 Members
โ๏ธGST Amendment - 101 st Amendment
โ๏ธFirst Country to implement GST - France ๐ซ๐ท
โ๏ธFirst Indian State to Implement GST - Assam
โ๏ธGST model in India is adopted from which country - Canada ๐จ๐ฆ ( Dual GST model)
โ๏ธHighest GST collected in - January 2022 since 2017
โ๏ธTotal GST collected in January 2022 - โน 140986 Crore
โ๏ธGSTIN / GST identification number - 15 digit PAN based unique identification number.
โญใฝ๏ธTYPES OF GST ใฝ๏ธโญ
๐ฐCentral Goods and Services Tax : CGST is charged on the intra state supply of products and services.
๐ฐState Goods and Services Tax : SGST, like CGST, is charged on the sale of products or services within a state.
๐ฐIntegrated Goods and Services Tax : IGST is charged on inter-state transactions of products and services.
๐ฐUnion Territory Goods and Services Tax : UTGST is levied on the supply of products and services in any of the Union Territories in the country, viz. Andaman and Nicobar Islands, Daman and Diu, Dadra and Nagar Haveli, Lakshadweep, and Chandigarh. UTGST is levied along with CGST.
๐ธ Credit - Lakshya Khare ๐ธ
๐Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services.
๐ The tax is included in the final price and paid by consumers at point of sale and passed to the government by the seller. The GST is a common tax used by the majority of countries globally.
๐In India, the idea of adopting GST was first suggested by the Atal Bihari Vajpayee Government in 2000.
โ๏ธGST Council constituted on - 15 September 2016
โ๏ธGST Implemented in India ๐ฎ๐ณ - 1st July 2017
โ๏ธGST is an - Indirect Tax ( Consumption based)
โ๏ธGST registration is - PAN based
โ๏ธGST council is headed by - Union Finance Minister ( Nirmala Sitharaman)
โ๏ธThe first committee to design GST model was headed by - Asim Das Gupta ( He is from West Bengal)
โ๏ธGST Council Article - 279A
โ๏ธGST Council consists of - 33 Members
โ๏ธGST Amendment - 101 st Amendment
โ๏ธFirst Country to implement GST - France ๐ซ๐ท
โ๏ธFirst Indian State to Implement GST - Assam
โ๏ธGST model in India is adopted from which country - Canada ๐จ๐ฆ ( Dual GST model)
โ๏ธHighest GST collected in - January 2022 since 2017
โ๏ธTotal GST collected in January 2022 - โน 140986 Crore
โ๏ธGSTIN / GST identification number - 15 digit PAN based unique identification number.
โญใฝ๏ธTYPES OF GST ใฝ๏ธโญ
๐ฐCentral Goods and Services Tax : CGST is charged on the intra state supply of products and services.
๐ฐState Goods and Services Tax : SGST, like CGST, is charged on the sale of products or services within a state.
๐ฐIntegrated Goods and Services Tax : IGST is charged on inter-state transactions of products and services.
๐ฐUnion Territory Goods and Services Tax : UTGST is levied on the supply of products and services in any of the Union Territories in the country, viz. Andaman and Nicobar Islands, Daman and Diu, Dadra and Nagar Haveli, Lakshadweep, and Chandigarh. UTGST is levied along with CGST.
๐ธ Credit - Lakshya Khare ๐ธ
Forwarded from RBI ASSISTANT PREPARATION
Thehindu
Fixing frequencies first: On 5G economic payoff in Budget speech
Policymakers must make sure that the 5G economic payoff will outweigh the high cost
Forwarded from RBI ASSISTANT PREPARATION
Thehindu
Bold gamble: On announcement of Channi as Punjab CM candidate
The projection of Channi as CM candidate was forced on Congress, but is the right decision
Forwarded from RBI ASSISTANT PREPARATION
Thehindu
When the music stops: On scrutiny of Boris Johnson's leadership
Despite the U.K.โs success in vaccination, Boris Johnsonโs leadership is under scrutiny
Forwarded from RBI ASSISTANT PREPARATION
Thehindu
Football and nations: On Africa Cup of Nations
The best football is seen between heavyweight European clubs, but nationalism adds an edge
Forwarded from RBI ASSISTANT PREPARATION
1610359123-q_1-30.pdf
63 KB
Rakesh Yadav
1610359123-q_31-60.pdf
50.9 KB
Rakesh Yadav
1610359123-q_61-90.pdf
61.9 KB
Rakesh Yadav
1610359123-q_91-120.pdf
76.7 KB
Rakesh Yadav
1610359123-q_121-136.pdf
53.3 KB
Rakesh Yadav
1610359123-Answer_key.pdf
23 KB
Rakesh Yadav Answer Key