TN recovers IGST revenue ▪ The Tax Research Unit which was set up by the Commercial Taxes Department, has helped Tamil Nadu recover ₹1,523.95 crore under the Integrated Goods and Services Tax (IGST). ▪ The IGST is levied and collected by the Centre on inter-State supply of goods and services and settled with the States. About Tax Research Unit ▪ Launch - December 30, 2022. ▪ Objective – To study the revenue trend and suggest revenue augmentation measures. About GST: ✓ Launch - July 1, 2017 ✓ Under Constitution (101st Amendment) Act 2016. ✓ Three types of GST are CGST (Central) SGST (State) and IGST (integrated) ✓ Tax Slabs - 0%, 5%, 12%, 18%, 28%. ✓ GST Council constituted under Article 279A. Tamil Pudhalvan scheme ▪ Tamil Nadu Chief Minister M.K. Stalin announced that the Tamil Pudhalvan scheme would be launched in August 2024. ▪ Objective - To promote higher education among boy students from economically disadvantaged sections. ▪ Benefit - ₹1,000 a month in financial assistance would be provided to students pursuing higher education after completing Classes VI to XII in State-run schools.
