Online Learning Portal
Online Learning Portal
Hybrid Classes
We provide offline, online and recorded lectures in the same amount.
Personalised Mentoring
Every aspirant is unique and the mentoring is customised according to the strengths and weaknesses of the aspirant
Topicwise Mindmaps
In every Lecture. Director Sir will provide conceptual understanding with around 800 Mindmaps.
Quality Content
We provide you the best and Comprehensive content which comes directly or indirectly in UPSC Exam.
DAILY NEWS ANALYSIS
PRINT
15 June, 2020
10 Min Read
# Meeting for the second time since the pandemic took hold in the country, the GST Council, last Friday, decided to relax late fees and interest payable for those taxpayers failing to file returns on time.
# For businesses with no tax liabilities under the indirect tax regime, the late fees were completely waived.
# This is in line with similar relaxations announced by the Centre in March, before the lockdown was declared, to ease compliance deadline worries of small businesses in particular.
# But given the extent of economic damage as well as the States’ fiscal positions in the period between these two meetings of the Council, its decisions are far from sufficient.
# In March, GST collections had slipped to ?97,597 crore after surpassing the ?1-lakh crore mark over the previous four months, and the numbers for April and May will not be known before July.
# Finance Minister Nirmala Sitharaman has told State representatives in the Council that just 45% of the indirect tax target had been met in the past two months.
Demands of the states
# It is for this reason that several States have been urging the Centre to extend emergency fiscal support and release past GST compensation dues enshrined in the pact that allowed the new tax regime to take off three years ago.
# In its stimulus package, in May, the Centre enhanced States’ power to borrow, but only part of that was completely unconditional, and a large chunk was contingent on States undertaking specified reforms.
# GST compensation (for revenue shortfalls in the first five years of GST) due to States for December 2019 to February 2020 was only released on June 4.
# Centre-State ties could turn more fractious, especially in the GST Council where things have usually evolved with consensus so far — thanks to the failure to finalise the way forward for paying States the compensation.
# One of the ideas on the table, officially discussed for around two months, is to raise loans against future GST cess accruals in order to recompense States.
# Any decision on this front, along with proposed GST rate rationalisations in the textiles, footwear and fertilizers sectors that were on the Council’s agenda, can now only be expected at a special meet in July.
# Procrastination is not an appropriate response at this arc of the curve — be it the pandemic or the economy.
Source: TH
03 Dec, 25
On 1st November, eight Indian states—Andhra Pradesh, Chhattisgarh, Haryana, Karnataka, Kerala, Madhya Pradesh, Punjab, and Tamil Nadu—along with five Union Territories—Andaman and Nicobar Islands, Chandigarh, Delhi, Lakshadweep, and Puducherry—celebrate their Formation Day. This date marks an important milestone in India
02 Dec, 25
The Turtle Wildlife Sanctuary, also known as the Kachhua Sanctuary, is located in the Varanasi district of Uttar Pradesh. It is recognised as India’s first freshwater turtle wildlife sanctuary, established to conserve endangered turtle species and support the ecological health of the Ganga River. Location and Extent The sanctuary co
02 Dec, 25
The Ministry of Education plans to introduce Artificial Intelligence (AI) and Computational Thinking (CT) from Class 3 onwards in the 2026–27 academic year. This initiative is part of the National Curriculum Framework for School Education (NCF-SE) 2023 and aligns with the National Education Policy (NEP) 2020. The aim is to prepare student
02 Dec, 25
Scientists from the Environment Department of Himachal Pradesh University (HPU) in Shimla have recently revealed that the Sal tree (Shorea robusta) is the most effective natural air purifier for combating rising pollution levels. Their findings highlight the tree’s superior capacity to trap dust, absorb gases, and cleanse the air compared
02 Dec, 25
The President of the United States has ordered the resumption of nuclear weapon testing after a gap of 33 years, the last test being in 1992. This decision marks a significant shift in global nuclear policy and has far-reaching implications for geopolitics, the environment, and international security. Status of Global Nuclear Weapon Testing
03 Dec,2025
Our Popular Courses
Module wise Prelims Batches
Mains Batches
Test Series
24 × 7 Support :
8287714422
Whatsapp :
8010068998
Email Us: query@aspireias.com
My Notes
Geography And Environment
