-The Telegraph Kerala finance minister pitched for extending it beyond June next year as the state was already grappling with a significant revenue shortfall The clamour for compensation to states beyond June 2022 grew louder on Saturday with Kerala finance minister K.N. Balagopal saying the financial situation of the state would be deeply impacted if the assistance is not extended. Balagopal pitched for extending the GST compensation beyond June next year as his...
More »SEARCH RESULT
Total Matching Records found : 106
Lack of GST details stumps economists -Vikas Dhoot
-The Hindu States seek transparency in GST data. GST collections have crossed ₹1 lakh crore in eleven of the last 12 months, with the government attributing the trend to a rapid economic recovery and improved compliance levels, but economists are unable to analyse these tax numbers as critical data points are no longer shared by the government. Until December 2020, when monthly GST collections were released, the official statement from the Finance Ministry...
More »GST mop-up hits a record in March -Vikas Dhoot
-The Hindu The indirect tax collections were 27% higher than that in March 2020. The gross GST collections in March hit a record of ₹1,23,902 crore, the Union Finance Ministry said on Thursday. This is the sixth month in a row that GST Revenues have remained above ₹1 lakh crore. “The GST collections for March have created a record; it has never been so high. We have crossed the record collections by a...
More »Tax exemptions and incentives for the corporate sector continue despite reduction in corporate tax rates
Quite often it is argued by mainstream economists that a sizeable chunk of the Union Budget every year is wasted because the Government spends that on food and fertiliser subsidies. The burgeoning size of these two subsidies relative to the entire budget as well as the gross domestic product (GDP) is often used to build the argument that economic as well as environmental sustainability of the country is at stake...
More »How Could the New Farm Laws Bring Agricultural Income Under the Tax Net? -Jaimal Shergill
-TheWire.in Farmers may have to pay 18% GST on the income earned through corporate farming, which the new laws are expected to promote. Like a retro Bollywood movie with multiple double acts and plot twists, the controversy surrounding the three farm laws is not just limited to the specific legislations per se, but there is more to it, much more sinister. When the Income Tax Act, 1995 (ITA) and Central Goods and...
More »
