About:

• IGST meaning Integrated Goods and Service Tax, is one of the three categories under Goods and Service Tax (CGST, IGST and SGST) with a concept of one tax one nation.
  
  
• IGST falls under Integrated Goods and Service Tax Act 2016.
  
  
• IGST is charged when movement of goods and services from one state to another. For example, if goods are moved from Tamil Nadu to Kerala, IGST is levied on such goods.
  
  
• The revenue out of IGST is shared by state government and central government as per the rates fixed by the authorities.
  
  
• • The GST on supplies in the course of interState trade shall be levied and collected by the Government of India and
    
    
  • such tax shall be apportioned between the Union and the States according to the provisions of law on the recommendations of the Goods and Services Tax Council.
    Under Article 269A of the Constitution,
• Under the IGST scheme, 50% of the collections will go to the Centre (as the Central Goods and Services Tax component) and the remaining 50% will be allocated to the States and Union Territories (as the State Goods and Services Tax component). And, 42% of the CGST will be devolved to the States and Union Territories.
  
  

About:

• In a major boost to India’s rice exports potential especially from eastern region, a consignment has been officially flagged off today from the Paradip International Cargo Terminal (PICT), Odisha to Vietnam.
  
  
• This is the first time in the history of Paradip Port, non-basmati rice will be exported. Sarala foods group will ship 20 containers of rice on Tuesday followed by around 500 containers over the next three months from PICT to Vietnam.
  
  
• A consignment of one of the Agricultural and Processed Food Products Exports Development Authority (APEDA)’s member exporter M/s Sarala Food will be shipped to Hai Phong port, Vietnam.
  
  
• Non-basmati rice exports to African and Asian countries are undertaken from various ports of India such as Kakinada, Vishakhapatnam, Chennai, Mundra and Krishnapatnam. Paradip will soon emerge as one of the major rice-exporting port of the country.