Daily Current Affairs- September 8, 2023

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Daily Current Affairs- September 8, 2023

GST rules for casinos, e-games notified

• Players must pay GST on the full value of chips bought in casinos, with no refunds (of GST) for returned amounts.
• Two clauses, 31B and 31C, have been introduced in the GST rules to specify the valuation of the supply. Under these changes, any claims made by players are to be included in the total amount paid or payable, so as to ensure a comprehensive taxation approach.
• Winnings by players are tax-neutral, as GST is collected at the first stage.
• The Parliament approved the amendments to the GST laws in August, imposing a 28 percent tax on the full face value of bets.
• The states have to pass these amendments in their state GST laws for uniform implementation.

World’s tallest Nataraja statue installed at G20 summit venue

• Nataraja statue at G20 summit: A 27-foot-tall statue of Nataraja, Lord Shiva in his cosmic dance, is installed at the G20 summit venue in Delhi. It is made from ashtadhatu, an eight-metal alloy, and weighs 18 tonnes.
• Sculptors from Swamimalai: The statue was crafted by a team of artisans from Swamimalai, Tamil Nadu, who have a lineage of 34 generations in sculpture. They used the traditional ‘lost-wax’ casting method, inspired by ancient Nataraja idols.
• Cost and significance: The statue cost Rs 10 crore, inclusive of GST. It represents the fusion of tradition and modernity, and showcases India’s rich cultural heritage to the world leaders.

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Street 20: Street Child Cricket World Cup To Be Held In Chennai From Sept 22

• Street 20 tournament: A cricket world cup for street children from 15 countries, held in Chennai from Sept 22 to Oct 1, 2023. It precedes the ICC World Cup Cricket in India.
• Team India: The defending champions of the Street Child Cricket World Cup, fielding eight teams from different cities. They represent hope and resilience of street children.
• Fun and culture: The tournament also includes various activities and events for the participants, such as art, music, and dance. It showcases India’s rich cultural heritage to the world.
• Partnerships and support: The tournament is organized by Street Child United, UK, and Dhaya Foundation, led by Mrs. Latha Rajinikanth. It also receives support from various organizations and authorities.

What is G20 and how does it work?

• G20 overview: The G20 is a group of 20 major economies that coordinates economic policies, promotes financial stability, and addresses global issues.
• G20 functions: The G20 operates through annual summits, finance ministers’ meetings, and working groups. It focuses on topics such as trade, development, and climate change.
• G20 summit in Delhi: The G20 summit in Delhi is scheduled from Sept 8 to 10, 2023. Prime Minister Modi will engage in bilateral meetings with over 15 world leaders during the summit weekend.

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Prime Minister Modi Participated in the 20th ASEAN-India Summit and 18th East Asia Summit (EAS)

• PM Modi’s participation in ASEAN-India Summit: He proposed a 12-point cooperation plan, reaffirmed the central role of ASEAN in the Indo-Pacific, and emphasized the alignment between India’s IPOI and ASEAN’s AOIP.
• PM Modi’s participation in East Asia Summit: He supported ASEAN centrality, advocated for a free and rules-based Indo-Pacific, and called for a cooperative approach to address global challenges.
• PM Modi’s announcements: He announced the establishment of the ASEAN India Fund for Digital Future, offered India’s Digital Public Infrastructure Stack, and renewed support for ERIA as a knowledge partner.
• ASEAN and EAS members: The document lists the 10 ASEAN member states and the 8 other nations that participate in the EAS mechanism.

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