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
18 Mar, 26
The Supreme Court of India recently gave a final three-week deadline to the Telangana Assembly Speaker to decide pending disqualification petitions against defecting MLAs under the Anti-Defection Law. What is the Anti-Defection Law? The Anti-Defection Law was introduced through the 52nd Amendment (1985), which added the Tenth Schedule to the
18 Mar, 26
A major disaster unfolded in East Jaintia Hills, Meghalaya, when at least 18 workers died following an explosion in an illegally operating rat-hole coal mine. This incident highlights the continued prevalence of rat-hole mining despite bans imposed by the National Green Tribunal (NGT) and the Supreme Court of India. Rat-hole mining is driven
17 Mar, 26
India’s aviation sector has grown rapidly, becoming a major economic success story. However, regulatory oversight has not evolved at the same pace. Data-driven monitoring of fares and market behavior is essential to ensure fair competition, prevent market abuse, and shift from reactive crisis management to proactive regulation. Challen
14 Mar, 26
Recently, a high-level committee on Union–State relations submitted its first report to the Government of Tamil Nadu. The report examines the distribution of powers and responsibilities between the Union and the States, highlighting ongoing debates regarding the balance between central authority and state autonomy. This discussion is clos
14 Mar, 26
The relationship between India and the United Arab Emirates has evolved from a traditional energy-based partnership into a comprehensive economic and strategic relationship. Over the years, strong political trust, growing trade, and expanding investments have transformed bilateral ties into a diversified economic corridor. The economic partnership
22 Mar,2026
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
