GST - All About to Know

*GK Night Dose*

*1st JULY GST DAY (Goods & Services Tax)*

🔸1 July 2017 GST to be applicable across India.

🔸1st GST Day was celebrated on 1 July 2018

💰France 1st country to implement GST in 1954

💰Assam was the 1st state to ratify the GST Bill

💰The 1st state to pass State GST Bill is Telangana

💰Indian GST Follows Canadian Dual Model

💰Constitution Amendment Bill (115th) to GST introduced in the LokSabha

💰GST Amendment Act : 101st
💰Constitutional Bill : 122

💰GST Council (Article 279A) Headed By : Union Finance Minister

*GST RELEATED NEWS*

🔶47th Meeting Of GST Council To Be Held In Srinagar

🔶Nirmala Sitharaman Inaugurated National Museum Of Customs And GST In Goa

🔶MH & UP tops in GST Registrations by Businesses & Dealers

💰28% GST will be levied on lotteries



Happy National Chartered Accountant Day to all the CAs.

🌟The day of celebration for all the hard work chartered accountants put in their work to help the nation grow. ✨💐🙏

Central Government To Bring Aviation Fuel Under GST

In the next GST Council meeting, Finance Minister Nirmala Sitharaman is likely to discuss with the states to bring air fuel i.e. ATF under the ambit of GST. The Finance Minister, while answering the question of SpiceJet CMD Ajay Singh during an event of the Industry Chamber, said that the aviation sector is aware of the current challenges and many steps can be taken soon to solve it. The rising demand for infra sector status to the hospitality and aviation sector and the Finance Minister has assured to solve it seriously soon. In fact, air fuel costs up to 45% of any airline's operations. This is the reason that at present, airlines are always troubled by the impact of double taxation i.e. tax from the center to the states In such a situation, with only one tax, GST, the sector is confident that not only will the operational cost come down, but air travelers will also get the benefit of it in the form of affordable airfare in the long run.