A Brand of CLT Technologies & Edu-Publishers Pvt. Ltd.
DAILY NEWS ANALYSIS
18 December, 2019
Min Read
Syllabus subtopic:
Prelims and Mains focus: key findings of the report; reasons for sluggish non-GST revenues and their impact on the fiscal health of the Indian economy; measures to be taken to address them
News: Even as the government struggles to shore up the GST revenue, the collection of non-GST tax revenue too seems to be subdued at a time when the economy is slowing down.
What do the findings reveal?
What constitutes non-GST taxes?
The non-GST taxes include mainly four taxes:
Difference between Nil Rated, Exempt, Zero Rated and Non-GST supplies
Supply Name |
Description |
Zero Rated |
Exports Supplies made to SEZ or SEZ Developers. |
Nil Rated |
Supplies that have a declared rate of 0% GST. Example: Salt, grains, jaggery etc. |
Exempt |
Supplies are taxable but do not attract GST and for which ITC cannot be claimed. Example: Fresh milk, Fresh fruits, Curd, Bread etc. |
Non-GST |
These supplies do not come under the purview of GST law. Example: Alcohol for human consumption, Petrol etc. |
Source: Indian Express
The Ministry was carved out of Ministry of Social Justice & Empowerment in 2006. Objective- To ensure a more focused approach towards issues relating to the notified minority communities - Muslim, Christian, Buddhist, Sikhs, Parsis and Jain. As per Census 2011, around 19.3% of the population belongs to minorities. Mandate- To f
The Performance of Indian Railways in 2023 showed significant strides in infrastructure but reveals underwhelming freight loading and financial performance. How Indian Railways performed in 2023? Near completion of DFC – Dedicated Freight Corridors are nearing completion with more than 200 freight trains already runnin
The Global Nuclear Order refers to the international system, agreements, norms, and structures that govern and regulate the use, possession, proliferation, and control of nuclear weapons and nuclear energy worldwide. It encompasses a complex network of treaties, agreements, and norms that have evolved over time to manage the risks associated wit
The Supreme Court has delivered several landmark judgments in 2023. S.No Name of the Case Judgement 1 Vivek Narayan Sharma v. Union of India Upheld the decision taken by the Union Government to demonetise currency notes of Rs. 500 and Rs.10
The Ministry is charged with health policy in India, which is also responsible for all government programs relating to family planning in India. Departments Department of Health and Family Welfare Department of Health Research Union Minister- Mansukh L. Mandaviya Health Missions National Health Mission (NHM) &
Our Popular Courses
Module wise Prelims Batches
Mains Batches
Test Series
Copyright 2023 CLT TECHNOLOGIES AND EDU-PUBLISHERS PRIVATE LIMITED. All rights reserved.