-Hindustan Times Traditionally, Union budgets have mattered for people at large because of two reasons: prices of goods and income tax rates.There is some merit in the argument that inflation is a bigger dampener on economic sentiment in India than low growth rates There is some merit in the argument that inflation is a bigger dampener on economic sentiment in India than low growth rates. Traditionally, Union budgets have mattered for people...
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GST Council decides to defer hike in textile duty
-The Telegraph At the GST Council meeting in September it was decided to correct the inverted duty structure for textiles and footwear The GST Council on Friday decided to defer the hike in textile duty to 12 per cent from 5 per cent that was due to take effect from January 1 and referred the matter for review to the group of ministers on rate rationalisation. The panel, the highest decision-making body for...
More »Under Modi, Tax Burden has Shifted from Corporates to People -Subodh Varma
-Newsclick.in And, dipping customs collections show easing of imports, which is destroying Indian producers. It was once famously said that the executive (government) is nothing but a committee to manage the affairs of the ruling class in any society. The Narendra Modi-led Bharatiya Janata Party government is a fine example of this truth. The open and brazen way in which it has worked to the advantage of India’s powerful corporate sector has...
More »Festive Bonanza: Government Slashed Import Taxes On Edible Oils Till March 2022, Check Details -
-Outlook India The latest development will cut the effective import tax on crude palm oil, crude soya oil and crude sunflower oil from 24.75 percent till now to 0. The government on Wednesday reduced various import taxes on palm oil, soyoil and sunflower oil ahead of the festive season till March 31, 2022, said the Bureau of Indirect Taxes and Customs. According to Moneycontrol, the latest development will cut the effective import tax...
More »More states want GST compensation cess extended -R Suryamurthy
-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...
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