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.
