-TheWire.in While the nitty-gritties of GST work are handled by the council, slippage in revenues are a result of poor design, which is why a road map for reforming the GST is needed. I don’t envy finance minister Arun Jaitley. The fiscal situation is looking rather grim, with the fiscal deficit target amount for the entire year having already been exceeded by 12 percentage points, with a full quarter of the fiscal...
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Shaktikanta Das, the former secretary of the Department of Economic Affairs, interviewed by Richa Mishra (The Hindu Business Line)
-The Hindu Business Line Who would know better than Shaktikanta Das, the former secretary of the Department of Economic Affairs, the ‘Good, Bad, and Ugly’ side of demonetisation and GST, the two factors that disrupted the balance sheets of not only the government and corporates but also that of the common man. Das would like to call it “positive disruption” as he believes that the turbulence caused was short-term, and that...
More »Sliding GST collections may put pressure on government -Gireesh Chandra Prasad
-Livemint.com GST rate cut and lenient implementation of the tax reform has caused GST collection in December to slip to Rs80,808 crore, down 14% from August and 3% from November New Delhi: Things don’t augur well for the exchequer, with recent GST rate cuts and a lenient implementation of the goods and services tax causing collections to slide further in December, posing a challenge to the government. Total GST collection of the central...
More »GST rate cut: Union Cabinet gives nod, monitor will guard against profiteering -Aanchal Magazine
-The Indian Express The authority will have the power to cancel registration of any entity or business if it fails to pass on the benefit of lower taxes under the GST regime to consumers. New Delhi: THE UNION Cabinet on Thursday approved the setting up of a National Anti-Profiteering Authority, a body with an overarching mandate to ensure that the reduction in tax rates under the new Goods and Services Tax (GST)...
More »A damaging and mindless act -Prabhat Patnaik
-The Hindu Business Line It was a gratuitous and direct assault on the informal sector by the state The retrospective defence being provided by the Government for its act of suddenly demonetising 86 per cent of the country’s currency is as mindless as the act itself. The main argument for demonetisation that was advanced a year ago was that ‘black money’-holders would not dare to bring their demonetised currency to the banks;...
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