This big decision was taken in the GST Council meeting. | Nirmala Sitharaman became the most powerful woman for the fourth time.

 

This big decision was taken in the GST Council meeting.

 

The government has given a big relief to the common man and businessmen with a small income. Making a big announcement after the GST Council meeting, Finance Minister Nirmala Sitharaman said that no tax has been increased on any item. Tax evasion was also talked about in this and a new system was considered. What is it, we are going to tell you the report in full detail.

 

Before the announcement of the new budget, the Finance Minister held an important meeting of the GST Council, In which a major decision was taken not to increase the extra tax on any item. According to media reports, the GST Council agreed to decriminalize some offenses. The Finance Minister said that a decision has been taken on the decriminalization of the GST Act.

 

This means that mistakes have been decriminalized. Revenue Secretary Sanjay Malhotra has informed that it has been agreed to double the fee to ₹2 crores for initiating prosecution in any case under the GST law. Apart from this, GST on Biofuel has been reduced to 5%. It was also decided not to levy GST on the no-claim bonus of insurance companies.

 

Finance Minister Nirmala Sitharaman said that the GST Council meeting to be held today could not discuss the tax on tobacco and gutkha due to paucity of time. On the other hand, Revenue Secretary Sanjay Malhotra said that there were 15 agendas in the 48th meeting of the GST Council. In which only eight agenda items could be discussed. 

The GST committee has also suggested that the total amount of fees to be paid by taxpayers for compounding GST offenses should be reduced to 25% of the tax amount. Currently, it is up to 150%. The committee has suggested raising the threshold for initiating prosecution to ₹20 crores from ₹5 crores at present. 

According to the reports, the GOM report on tax evasion by pan masala and gutkha companies is also likely to be discussed in the council. Apart from this, online gaming and casino can also be discussed in the GST Council meeting. In the GST Council meeting held in November, a Group of Ministers (GoM) had agreed to tax them at the rate of 28%.

 

Despite agreeing to tax 28% on these casinos, it was not decided last time due to some differences. Then there was no consensus on whom to tax. The tax was being collected by the portal only on the fee, or even on the amount of the bet placed by the participant. Currently, online gaming attracts 18% GST.

According to media reports, the Group of Ministers has proposed a tax-based levy. The panel proposed to tax a total of 38 items. These include things like pan masala, hookah, chillum, and chewing tobacco. A higher tax ranging from 12% to 69% is proposed on the retail sale price of these items. At present, 28% GST is levied on these.

Finance Minister Nirmala Sitharaman became the most powerful woman for the fourth time.

 

Finance Minister is once again in the headlines. Nirmala Sitharaman has once again done the same feat which she did last year. But this time the explosion is bigger. Where Nirmala Sitharaman name has once again come in the list of 100 most powerful women in the world. It is being told that six Indian women including Finance Minister Nirmala Sitharaman have been given a place in the Forbes world 100 Most Powerful Women 2022 list. 

Forbes has placed Nirmala Sitharaman in the 36th position. Earlier, in the list of last year i.e. 2021, Sitharaman was ranked 37th, while in the year 2020, the Finance Minister was considered 41st and 34th most powerful woman in 2019. The great thing is that an Indian finance minister has maintained his dominance in this list for the fourth time in a row.

 

Apart from Finance Minister Nirmala, Indian women who have been included in the list of 100 most powerful women in the world include Biocon chairperson Kiran Mazumdar Shaw and Nykaa founder Falguni Nayar. Both these Indian women were placed at 72nd and 89th positions. Apart from Nirmala Sitharaman, Kiran Mazumdar Shaw, and Falguni Nayar, HCL Tech chairperson Roshni Nadar Malhotra has been ranked 53rd in the Forbes list.

 

At the same time, Madhabi Puri Buch, chairperson of the Security Exchange Board of India ie SEBI, became the 54th most powerful woman in the world. The next name on the list is that of the Steel Authority of India ie SAIL Chairperson Soma Mondal. She has been considered the 67th most powerful woman. Talking about Sitharaman, her journey from a saleswoman to becoming the Finance Minister of the country was very interesting.

 

She is the second woman to hold the post of Defense Minister of India after former Prime Minister Indira Gandhi. Minister Nirmala Sitharaman was born on 18 August 1959 in a middle-class family in Madurai, Tamil Nadu. Her father's name was Narayani Sitharaman and she worked in the railways. Sitharaman mother Savitri Sitharaman was a housewife. 

She did her BA in Economics from Seethalakshmi Ramaswamy College, Tiruchirappalli. Then she completed her master's degree from JNU in 1984. She also did her Ph.D. in her dissertation on these Indo-European textile trades. Nirmala Sitharaman journey from a salesman to becoming the Finance Minister of India has been an interesting one. 

After marriage, she shifted to London with her husband. Where she started her career as a saleswoman in a store on Newton Street. After this, she also worked as an assistant economist in the Agricultural Engineers Association in Britain. Not only this, but she has also served as a journalist on BBC World Service. 

Talking about her political career, Sitharaman returned to India in 1991 and was the chairperson of the National Commission for Women from 2003 to 2005. After this, she joined BJP in 2006. Although her husband's family was completely Congress supporters. 

BJP appointed Nirmala Sitharaman as the spokesperson of the party and she came to be recognized as the voice and face of the party. After being elected to the Rajya Sabha from Andhra Pradesh, she was inducted as a Minister of State in the Narendra Modi government cabinet in 2014. Now on the post of Finance Minister of the country. 

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