New Economic Policy & Govt. Sector
GST Council
- Decision to impose a 28% levy on the full face value of bets placed on online gaming, casinos and horse racing, with implementing it from October 1.
About GST
- The Central Goods and Services Tax Act, 2017 was passed as the 101st amendment act.
- GST laws were implemented – On July 1, 2017.
Dispute settlement scheme
- The Centre launched settlement scheme the Vivad se Vishwas II scheme aims to settle disputes between government and its vendors.
- Finance Minister Nirmala Sitharaman had announced the scheme, termed “Vivad se Viswas II – (Contractual Disputes)’ in this year’s Union Budget.
- The scheme will apply to all domestic contractual disputes where one of the parties is either the Government of India or an organisation working under its control.
