GST Council Current Affairs - 2019
Category Wise PDF Compilations available at This Link
The GST collection in September 2019, dropped sharply to a 19-month low. This reflects the widening slowdown of the economy. The tax collections were Rs 91,916 crore in September. This was 2.67% less as compared to September 2018.
The Gross GST collection in September 2019 comprises of Rs 16,630 crore collection of CGST – Central GST, Rs. 45,069 of IGST – Integrated GST and Rs 22,598 crore of SGST – State GST.
The GST that was amalgamated from July 1, 217, includes different central and state tax, service tax, VAT, excise duty and decline in collection indicate a downturn. Hence, GST Council has set up a panel to suggest measures that will revive GST collection.
On October 10, 2019, the GST Council set up a 12-member panel. The panel will not propose tax rate increases or decreases. Rather, it will find ways to widen tax base, prevent evasion, improve voluntary compliance. The main objective of the panel is to augment the revenue other than tax rate increase.
The GST Council has already resisted pressure from industries and automobiles for rate cuts and raised rates on caffeinated drinks that were imposed in September, 2019.
The Government will also face pressure on central government’s fiscal position for reducing corporate tax rate for businesses announced in September 2019.
Tags: Finance Minister • GST • GST collection • GST Council • Tax
The winners of the Businessline Changemaker Award for 2019 are listed below:
- Changemaker Of The Year: Petitioners against Section 377.
- Changemaker Of The Year: GST Council.
- Iconic Changemaker: Bezwada Wilson (Safai Karmachari Andoloan).
- Social Transformation: The Kalinga Institute of Social Sciences.
- Digital Transformation: eNAM (Electronic National Agriculture Market).
- Young Changemaker: Anju Verma (promoting the education of underprivileged children).
- Young Changemaker: Kush and Arjun Pandey (developers of ScoutMe app for tapping football talent).
Businessline Changemaker Awards
Businessline Changemaker Awards were constituted in the year 2018 to mark the completion of 25 years by the Hindu Business Line. The awards seek to celebrate the Changemaker maker individuals, entities and organisations, who through their work, have contributed to materially improve the condition of society, economy and the planet.
The Awards honour the Changemakers who have impacted society in a very big and in a very positive way with their work which has helped enhance the quality of life and livelihoods and made the world a better place.