-Livemint.com The simplification process may result in some readjustment of GST rates, including a possible reduction in tax of some items that are in the highest tax slab of 28% New Delhi: Policymakers are considering steps to ease the compliance burden related to the goods and services tax (GST) on small businesses and to make product classification for taxation less complicated, said revenue secretary Hasmukh Adhia. The simplification process may result in some...
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The Centre could provide relief from rising fuel prices by cutting taxes, but here's why it may not -Nitin Sethi and Mayank Jain
-Scroll.in The price of petrol and diesel remains as high even though the cost of importing crude oil has halved from 2011. In 2011 when the cost of oil being imported by India was averaging above $100 per barrel, the retail price that citizens paid for petrol in Delhi averaged Rs 65 per litre. But today, when the cost of importing oil is substantially lower at an average of $50 per...
More »Govt may scrap PDS -Dalip Singh
-Deccan Herald New Delhi: Prime Minister Narendra on Monday said the government is likely to scrap public distribution scheme (PDS) system and transfer money directly to the accounts of poor beneficiaries after getting encouraging results from Haryana and Puducherry. Modi stated this during his Monday's informal discussion with BJP MPs from Delhi, J-K, Haryana, Punjab, Uttarakhand, Himachal Pradesh and Chandigarh. According to a press statement issued on the outcome of interaction with...
More »India performs miserably in war on inequality
-The Times of India NEW DELHI: India has been ranked 132 out of 152 countries in an index that rates countries by their commitment to reducing inequality. The first report edition of the index, released recently, showed that OECD countries headed by Sweden ranked the highest while Nigeria was at the bottom. The US had the highest level of inequality among developed countries, though it is the wealthiest country in history. Ironically,...
More »No clear-cut trend in economy going cashless
Paytm's founder Vijay Shekhar Sharma was in the news recently for signing a deal to purchase a Rs. 82 crore worth property in Lutyens’ Delhi. He is credited with the growth of Paytm's mobile wallet services, which is currently being used by over 220 million users across the country. Although Paytm was launched in 2010, the popularity of its mobile wallet services and payment gateway among the ordinary citizens grew...
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