Current Affairs

1. KOZHIKODE, INDIA’S FIRST UNESCO CITY OF LITERATURE –

• On June 23, 2024, Kozhikode made history by becoming the first UNESCO City of Literature in India. This prestigious recognition highlights the city’s rich literary heritage and cultural significance.
• Minister for Local Self-Government M.B. Rajesh announced the achievement, comparing Kozhikode to London in its ability to attract and nurture talent. He described the city as:
• Unpretentious
• Hospitable

Kozhikode’s literary legacy includes:

• Two Jnanpith Award winners
• Notable contributions in cinema, music, and media
• The city’s success in becoming India’s first City of Literature surprised many, as it surpassed Kolkata, a city with a longer literary tradition. This achievement was credited to:
• Effective planning and preparation
• Initiative by the Mayor and Kerala Institute of Local Administration

 

2. PRADEEP SINGH           KHAROLA     HAS    BEEN  ASSIGNED    THE ADDITIONAL CHARGE OF NTA DG –

• The Director General of the National Testing Agency, Subodh Kumar Singh, was removed from the post on June 22, amid controversy over irregularities in exams. Subodh Kumar Singh’s services were put on a “compulsory wait” in Department of Personnel and Training, the government said in a letter. India Trade Promotion Organisation Chairman and MD Pradeep Singh Kharola was assigned additional charge of NTA DG till appointment of a regular incumbent or until further orders.
• Pradeep Singh Kharola is currently the Chairman and Managing Director of India Trade Promotion and has been appointed as the Director General of National Testing Agency as an additional charge. Kharola is a 1985 batch IAS officer.
• The Union Ministry of Education has constituted a high-level committee of experts to ensure transparent, smooth and fair conduct of examinations. Dr K Radhakrishnan, Former Chairman, ISRO and Chairman BoG, IIT Kanpur, will head the panel of 7 experts.

 

3. 53RD GST COUNCIL MEETING OVERVIEW –

• The 53rd GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi. The meeting was attended by key officials, including Union Minister of State for Finance Shri Pankaj Chaudhary, Chief Ministers of Goa and Meghalaya, Deputy Chief Ministers of Bihar, Haryana, Madhya Pradesh, and Odisha, Finance Ministers of States & UTs (with legislature), and senior officers of the Ministry of Finance & States/ UTs.

Changes in GST Tax Rates GST Rates on Goods

• Uniform IGST Rate on Aircraft Parts: A uniform rate of 5% IGST will apply to imports of parts, components, testing equipment, tools, and tool-kits of aircrafts to boost MRO activities.
• Milk Cans GST Rate: All milk cans (steel, iron, aluminum) will attract a 12% GST rate.
• Paper Products GST Rate Reduction: The GST rate on carton, boxes, and cases of both corrugated and non-corrugated paper or paper-board has been reduced from 18% to 12%.
• Solar Cookers GST Rate: All solar cookers, whether single or dual energy source, will attract 12% GST.
• Poultry Keeping Machinery: The GST entry covering poultry keeping machinery attracting 12% GST has been amended to specifically incorporate “parts of poultry keeping machinery” and regularize past practice.
• Sprinklers GST Rate: All types of sprinklers, including fire water sprinklers, will attract 12% GST.
• Defence Forces IGST Exemption: The IGST exemption on imports of specified items for defence forces has been extended for five years till 30th June 2029.
• RAMA Programme IGST Exemption: IGST exemption on imports of research equipment/buoys under the RAMA programme has been extended subject to conditions.
• Compensation Cess on SEZ Imports: Compensation Cess on imports in SEZ by SEZ Unit/developers for authorized operations is exempted w.e.f. 01.07.2017.
• Miscellaneous Exemptions: Compensation Cess on supply of aerated beverages and energy drinks to authorized customers by Unit Run Canteens under Ministry of Defence and Adhoc IGST exemption on imports of technical documentation for AK-203 rifle kits for Indian Defence forces are also recommended.

 

GST Rates on Services

• Indian Railways Services Exemption: Services provided by Indian Railways to the general public, such as platform tickets, retiring rooms/waiting rooms, cloakroom services, and battery-operated car services, are exempt from GST.
• SPV Services Exemption: Services provided by Special Purpose Vehicles (SPV) to Indian Railways for infrastructure use during the concession period and maintenance services by Indian Railways to SPV are exempt.
• Accommodation Services Exemption: Accommodation services valued up to Rs. 20,000 per month per person supplied for a minimum continuous period of 90 days are exempt from GST.
• Co-insurance and Re-insurance Services: Co-insurance premium apportioned by lead insurer to the co-insurer and transactions of ceding commission/re-insurance commission between insurer and re-insurer are declared as no supply under Schedule III of the CGST Act.
• GST Liability on Reinsurance Services: GST liability on reinsurance services of specified insurance schemes will be regularized retrospectively.
• Retrocession Clarification: Retrocession, re-insurance of re-insurance, is eligible for exemption under Sl. No. 36A of notification No. 12/2017-CTR.
• RERA Statutory Collections: Statutory collections by Real Estate Regulatory Authority (RERA) are exempt from GST.
• Incentive Sharing under RuPay and BHIM-UPI: Further sharing of incentive under NPCI’s promotion scheme for RuPay Debit Cards and BHIM-UPI transactions is not taxable.