-The Hindu Not only are the States not paid what is due to them, they have also lost the powers to raise their own sales tax revenues Karur MP S Jothimani recently conducted a telephonic survey of 30 lakh people in Tamil Nadu on the re-opening of liquor shops in the State during lockdown 3.0. An overwhelming 89% were opposed to the move. The Maharashtra government too decided to permit liquor shops to...
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Modi Government is on a Dangerous Course -Prabhat Patnaik
-Newsclick.in The BJP government’s centralising tendency and its attitude towards the financial needs of states during this pandemic, is symptomatic of a thinking that will weaken the very foundations of modern India. Despite repeated demands by the states, the Centre has still not released what is their legitimate due, namely, compensation for their revenue loss owing to the introduction of goods and services tax or GST; this has not been paid since...
More »TM Thomas Isaac, Kerala Finance Minister and a trained economist, interviewed by AM Jigeesh (The Hindu Business Line)
-The Hindu Business Line In the thick of battling the Covid-19 pandemic, the CPI (M)-ruled Kerala government gathered Opposition parties on a virtual platform to chart out a common course on livelihood issues and the economic crisis that is simultaneously unfolding. Kerala Finance Minister TM Thomas Isaac, a trained economist, told BusinessLine that India is facing an attack on economic federalism and there is urgent need for the States to combat...
More »States stare at over Rs.1 lakh crore revenue gap post withdrawal of GST compensation
-PTI At the time of implementation of the Goods and Services Tax on July 1, 2017, the Centre had promised to compensate states for loss of revenue for five years at an agreed formula States might be facing a consolidated revenue gap of up to Rs.1.23 lakh crore on account of withdrawal of compensation after the five-year GST transition period ends on June 30, 2022, says a report by economic think tank...
More »GST pits angry states against Centre -Paran Balakrishnan
-The Telegraph Lower compensation beyond 2022 could be one way out A showdown is looming in Delhi over the GST, the country’s biggest tax revamp since independence that was implemented three years ago. Kerala finance minister Thomas Isaac has already fired the opening shots. He will be in the capital next Wednesday for a GST Council meeting and he’s declared that he will be heading to the Supreme Court if he doesn’t...
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