India Current Affairs 2017

Latest India Current Affairs and Current Affairs related to Government policy, polity and administration in India. India’s National Current Affairs updates for 2017

GSTN launches excel-based offline tool to file initial GSTR-3B returns

The Goods and Services Tax Network (GSTN) has launched excel-based offline facility to allow taxpayers to finalise their GSTR-3B forms on their own computers before uploading it onto the portal in order to minimise chances of errors before uploading on portal. Taxpayers have to file the summary GSTR-3B forms each month till January.

Key Facts

This Excel based offline facility will provide an opportunity to the taxpayer to verify the details of GSTR 3B before filing and minimise chances of error. It will make the process of filing returns simpler. The offline utility is designed to help taxpayers to prepare their GSTR-3B return on their computer system. The taxpayer can download the offline utility from the GST Portal under the Download Section. Using it, taxpayers can fill data and then create json file for uploading the same on GST Portal.

Goods and Services Tax Network (GSTN)

GSTN is a not for profit, non-Government, private limited company incorporated in 2013. It has been set up primarily to provide IT infrastructure and services to the Central and State Governments, tax payers and other stakeholders for implementation of Goods and Services Tax (GST).

The Union Government holds 24.5% equity in GSTN. All States including two UTs (Delhi and Puducherry) and Empowered Committee of State Finance Ministers (EC) together hold another 24.5%. Balance 51% equity is with non-Government financial institutions-HDFC Bank Ltd (10%), HDFC Ltd (10%), ICICI Bank Ltd (10%), NSE Strategic Investment Corporation Ltd (10%) and LIC Housing Finance Limited (11%).

The Revenue Model of GSTN after GST rollout consists of User Charge to be paid by stakeholders who will use the system and thus it will be a self-sustaining organization

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APEDA to promote NE products in Bangladesh and Myanmar

The Agricultural and Processed Food Products Export Development Authority (APEDA) has taken up a programme for promotion of north eastern products in Bangladesh and Myanmar. In this regard, it has proposed to organise promotional programmes in Bangladesh and Myanmar in association with the High Commission of India in Dhaka and its Embassy in Yangon.

The export of APEDA scheduled products to Bangladesh during 2016-17 was of US $396.44 million. The major products exported to Bangladesh include rice, fruits, wheat, vegetables, maize, dairy products and pulses. The export of APEDA scheduled products for Myanmar during 2016-17 was of US $24.15 million. The major products exported to Myanmar include rice, cereal preparations, maize, rice, fruits, and vegetable seeds.

Agricultural and Processed Food Products Export Development Authority (APEDA)

The APEDA is an apex statutory export promotion organisation under the Union Ministry of Commerce and Industry. It was established under APEDA Act, 1985. It is mandated with responsibility of promotion and development of the export of its scheduled products which includes all agricultural products.

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