Filter by

Search by date

Recent Topic

Barents Sea

JUN 18

Seti Hydropower Project

JUN 15

India and BIMSTEC

JUN 8

Aegean Sea

JUN 8

Goods and Services Tax (GST)

MAY 25

Filter

col-md-9 col-sm-8 col-xs-12 pad-out 1

Search by date

Filter

Filter

Goods and Services Tax (GST)

Mains > Economic Development > Indian Economy and issues > Taxation

IN NEWS: Recently, the Supreme Court, in a unanimous verdict (in Union of India vs Mohit Minerals case), held that Goods and Services Tax (GST) Council’s recommendations only have persuasive value and would n...

iTips

For Prelims, Questions on Goods and Services Tax Act, features, principles and benefits of such taxation can be asked. Also, there can be questions on GST Council, National Anti-Profiteering Authority (NAA) etc.
For Mains, The relevance of GST regime, its implications, benefits, negative fallouts can be asked. In addition, there can be questions on the cooperative federalism related aspects of GST regime (recent SC ruling on GST council) and its impacts on Centre-State relations. It can be used in questions relating to economic and fiscal conditions of Centre and States.

MAY 25

GST Council recommendations not binding

Preliminary > Polity > Institutions/Bodies > Taxation

Why in news? The Supreme Court ruled that recommendations of the Goods and Services Tax (GST) Council only have persuasive value, and cannot be binding on the Centre and states. Highlights from the Supreme Cou...

MAY 20

e-Settlement Scheme, 2021

Preliminary > Economic Development > Miscellaneous > Taxation

Why in news The Central Board of Direct Taxes (CBDT) has rolled out e-Settlement Scheme for settlement of tax disputes involving small tax payers to be processed entirely electronically. About the schem...

NOV 5

OECD-G20 Inclusive Framework on BEPS

Preliminary > Economic Development > Indian Economy and Issues > Taxation

Why in news? A collection of 136 countries, including the G-20 member nations and the Organization for Economic Cooperation and Development, has agreed on the OECD-G20 Inclusive Framework on Base Erosion and Profit...

iTips

To know more about OECD visithttps://ilearncana.com/details/OECD/1323
To know more about G20 visithttps://ilearncana.com/details/G-20/2501

OCT 11

GLOBAL MINIMUM TAX

Mains > International relations > Agreements > Taxation

IN NEWS: Finance Ministers from the Group of Seven (G7) nations reached a landmark accord setting a global minimum corporate tax rate. GLOBAL MINIMUM CORPORATE TAX: Corporate Tax is a direct tax levied...

iTips

For Prelims, questions on terms like BEPS and Pillar Two can be asked.
Questions on global tax can be asked in GS 2 (International relations) and GS 3 (Economic development)
Extra reading: G7http://ilearncana.com/details/India---G7-relations/2196

JUN 14

Base erosion and profit shifting (BEPS)

Preliminary > Economic Development > Budgeting > Taxation

About Base erosion and profit shifting (BEPS): BEPS refers to corporate tax planning strategies used by multinational companies to "shift" profits from higher–tax jurisdictions to lower–tax jurisdictions. Thu...

DEC 8

Inverted duty structure

Preliminary > Economic Development > Indian Economy and Issues > Taxation

Why in news? The rubber goods industry, especially the non-tyre segment, is worried over the irrational inverted duty structure that has put several domestic manufacturing units uncompetitive. What is it? ...

NOV 30

Retrospective taxation

Preliminary > Economic Development > Budgeting > Taxation

Why in news? In a unanimous decision, the Permanent Court of Arbitration (PCA) at The Hague on Friday ruled that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax from Vodafone ...

SEP 29

Sin Taxes

Preliminary > Economic Development > Budgeting > Taxation

Why in news? Two-wheelers are neither a luxury nor sin goods and so merit a GST rate revision, Finance Minister Nirmala Sitharaman said at an industry interaction. Two-wheelers currently attract 28 percent GST, w...

AUG 27

TAX PAYER’S CHARTER

Mains > Economic Development > Indian Economy and issues > Taxation

WHY IN NEWS: Prime Minister launched a ‘Transparent Taxation - Honouring the Honest’ platform on August 13, 2020 that provides faceless assessment and faceless appeal and a taxpayers’ charter. ...

iTips

Prelims: Questions can be asked on ‘Direct Tax Vivad se Vishwas Act’, various types of direct tax in India etc.
Mains: Questions are expected on the need and benefits of Taxpayer’s Charter. This input can also be used while answering questions on important aspects of governance; citizens charters, transparency, accountability and institutional and other measures.

AUG 14