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20 FEB- Current Affairs (GS-3)
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Part 6

Ashish Malik is teaching live on Unacademy Plus

Ashish Malik
Verified UPSC Educator@Unacademy Plus, Writer, Poet, Alignment Design engineer, Motivational speaker, YouTuber, Blogger, Counsellor

Unacademy user
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Preeti Bura
2 years ago
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  1. Newsletter- 2o/o2/2019 with ASHISH MALIK

  2. My Referral Code- AshishMalik-8996 About Me Lise this while subscribing and get amazing discounts on plus . . Civil Appeared in UPSC CSE Mains twice 5 years of preparation experience 2 years of Teaching experience Star. Verified and Plus Educator @Unacademy On Unacademy:- More than 1200 lessons and 1lakh 80 thousand lifetime views Subject expertise- Geography. History. Environment. Polity and Governance. Essay Writing. GS Answer Writing. Interview Guidance. Preparation Strategies. Test Series(MCQs) and International Relations UNACADEMY https:/ Google Search "Ashish Malik Unacademy

  3. GST Council to discuss realty rates o Meeting will be held to discuss key issues such as the possible reduction of rates on the real estate sector, and ways to increase tax collections This will be the last meeting of the Council before the general elections, since the model code of conduct will come into force soon o GST Council, in December, had created a Group of Ministers to look into the applicability of GST rates on under construction properties One of the options reportedly recommended by the GoM was to reduce the tax rate on the sale of such properties to 5% without input tax credits (ITC from the current 12% with ITC. o Tax experts feel that removing ITC for the real estate sector would be a big blow to the structure of GST since it would open the doorway for other sec- tors to ask for similar treatment, whereas the backbone of GST is built on the provision of ITC

  4. INPUT TAX CREDIT o Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs o say, you are a manufacturen tax payable on output (FINAL PRODUCT) is Rs 450 tax paid on input (PURCHASES) is Rs 300 You can claim INPUT CREDIT of Rs 300 and you onty need to deposit Rs 150o in taxes .) Input Credit in GST o Input Credit Mechanism is available to you when you are covered under the GST Act.Which means if you are a manufacturer, supplier, agent, e-commerce operator, aggregator or any of the persons mentioned here, registered under GST, You are eligible to claim INPUT CREDIT for tax paid by you on your PURCHASES.

  5. Quiz Time o Which of the following is/are eligible to claim INPUT CREDIT for tax? 1. manufacturer 2. supplier 3, agent 4. e-commerce operabotr o 5. aggregator o Code: A. 1,2,4 and 5 8. 1, 4 and s C. 1, 2 and 4 D. 1,2,3,4 and 5

  6. Cabinet approves Phase II of rooftop solar programme Provides for 40% central funding for installations up to 3kW o The Cabinet Committee on Economic Affairs on Wednesday approved PhaseII of the Grid Connected Rooftop Solar Programme that aims to achieve a cumulative capacity of 4o,000 MW from rooftop solar projects by 2022. o Phase 11 programme provides for central financial assistance (for residential rooftop solar installations) up to 40% for rooftop systems up to 3kW and 20% for those with a capacity of 3-10k The second phase will also focus on increasing the involvement of the distribution companies (DISCOM) In a separate decision, the Cabinet approved the launch of the Kisan Urja Suraksha Evam Utthaan Mahabhiyan aimed at providing financial and water security to farmers. .. Through the scheme, farmers will be given financial assistance to set up solar panels in their unused or fallow Land.

  7. Kisan Urja Suraksha evam Utthaan Mahabhiyan Proposed scheme consists of three components: o Component-A: 10,ooo MW of Decentralized Ground Mounted Grid Connected Renewable Power Plants. o Componenb-8: Installation of 17.50 Lakh standalone Solar Powered Agriculture Pumps Component-C: Solarisation of 10 Lakh Grid-connected Solar Powered Agriculture Pumps, o All three components combined, the scheme aims to add a solar capacity of 26,750 MW by 2022. The total central financial support provided under the scheme would be Rs. 34,422 crore.