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GST Council meeting: Lottery scheme with up to Rs 1 cr prize to get nod Winners will be selected by the National Payments Corporation of India Current Affairs :The lottery plan to urge purchasers to request a receipt is probably going to have awards in the scope of Rs 10 lakh to Rs 1 crore a month. Champs will be chosen by the National Payments Corporation of India. It will be on the lines of what the Delhi government had under its prior Value Added Tax system (in 2015) for purchasers, said an authority. The regional government had presented a ‘Bill Banao, Inaam Pao’ conspire at that point. The Consumer Welfare Fund (CWF), where hostile to profiteering continues are kept, will be utilized to support the proposed lottery prizes. As per the counter profiteering rules under GST, providers of products and enterprises should pass on the similar advantage of any decrease in paces of assessment or the advantage of ITC by comparable decrease in costs. CWF was made by the focal gov...

Festival bonanza from FM: Corporation tax rate slashed to boost investments The measures announced by the finance minister will hit the exchequer by Rs 1.45 trillion a year Current Affairs  :- In her fourth arrangement of bundles for the business, money serve Nirmala Sitharaman on Friday declared organization assessment rate cuts for organizations not benefiting of any exclusions and setting up assembling offices in the nation from the following month. The clergyman additionally reported getting rid of extra charge declared in the Budget for the capital markets. The measures will hit the exchequer by Rs 1.45 trillion per year in the midst of the officially troubling circumstance, however the account clergyman said the cut in assessments additionally extends the container. Sitharaman reported that the company duty rate has been sliced to 22 percent from 30 percent for organizations not profiting the advantages of exclusions. As of now, the all out taxation rate aft...