Governor of Reserve Bank of India Shashikant Das has said that bringing petroleum products under GST will lead to initial sacrifices but will beget benefits in the long run. A report of State Bank of India has calculated that the initial loss of revenue will be to the tune of Rs one lakh crore. The question, however, remains wherefrom will[Read More...]
A large borrowing programme is inevitable; data and economic uncertainties show that States cannot handle the matter. Clearly, the Centre is reneging on its promise to the States. The implication is that the States are on their own — cooperative federalism is a casualty. The Goods and Services Tax (GST) Council meeting has now been deferred to the first week[Read More...]
Interview by Richa Mishra In his book, Arun Kumar suggests ways to convert the complex levy into a ‘Ground Nourishing Tax’ Change is not always easy to adapt to, especially when it is a completely new tax regime like the Goods and Services Tax (GST), which even proponents of reforms acknowledge is very complex. No surprises then, that it[Read More...]
Last week, the government stated that states and union territories have been paid Rs 52,077 crore since July 2017 to compensate them for the shortfall in their tax revenue. After the last goods and services tax (GST) council meeting in July, it was reported that several states and union territories have reported shortfall in revenue of up to 43%. Given this background, should the[Read More...]
To, The Prime Minister Government of India New Delhi –110 001 Narendra Modi Ji, We would like to invite you, as also Arun Jaitley Ji, The Chairperson of GST Council, to come and watch a Kannada musical, Taayavva. We are performing this play at ADA Theatre, Bengaluru, on 21st Nov 2017, at 07:00 PM. This play is about a mother.[Read More...]
The Sathyagraha demanding 0% GST on hand made sector is a movement to realise a promise made in the Indian Constitution Shri. Prasanna breaks his indefinite hunger strike on assurance of Karnataka Chief Minister Siddaramaiah that the State will support Sathyagraha’s demands in GST Council With the assurance of the Chief Minister of Karnataka Shri. Siddaramaiah that the Karnataka Government[Read More...]
GST row is refusing to die down. The civil society and every other segment of society has refused to accept it in the present form. Their concern is genuine. The law, if applied in its present form will be a lethal assault, ever mounted on the fiscal and political autonomy of our state. To find a way out, the[Read More...]
India is all set to sail in its new taxation policy set out after three months of the new financial year. The move is definitely going to make a niche of its own down in history. But having said that, there are umpteen number of issues connected with its implementation in such a country as diverse as India. Still several[Read More...]
At the midnight hour, when the whole world slept, India woke to life and freedom in the emotional words of Nehru’. But, again, in the midnight hour, India will witness one of the most radical tax reforms – GST…! The government is ready to roll out GST from July 1 despite dissatisfaction from many quarters. One of the consequences[Read More...]
By all indications, Mehbooba Govt. appears all set for lending its approval to adoption of 101st Indian constitutional amendment paving way for application of Goods & Services Tax Act (GST) to the whole state. The bycott by NC Govt. to the 2nd round of All party meeting is all a soap opera drama . With this application, the last post[Read More...]
