-The Hindu What is the Opposition-ruled States’ stand on reduction of value added tax to bring down petrol prices? The story so far: Petrol is retailing at more than ₹100 per litre across India. While rising crude oil prices have added to the burden, the primary reason behind the steep increase in pump fuel prices over the last few years is the gradually rising Central Government's excise duty component. Currently, for every...
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How GST is killing small businesses with inspector raj and suffocating compliance -Ritesh Kumar Singh
-ThePrint.in GST was supposed to create a unified market. The opposite is happening with small businesses being harassed with invoice and payments. The introduction of the Goods and Services Tax or GST was supposed to create a unified market of 1.4 billion people and encourage entrepreneurship and job creation. The other aim was to bring more and more firms into the formal sector of India’s economy, which will help expand the tax...
More »Govt needs to look beyond salaried class to grow Income Tax collection -S Murlidharan
-CNBCTV18.com Income tax payers are admittedly abysmally low in India but the problem to a large extent is of our own making with too many holy cows and touch-me-nots. We often hear the elegy that in a country of 135 crore, hardly 1.5 crore people pay income tax although thrice of that number file returns. The answer is not far to seek though. We have right from the beginning exempted agricultural income...
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 »Rising crude oil prices further burdens Indian consumers -Vignesh Radhakrishnan, Sumant Sen and Jasmin Nihalani
-The Hindu The Centre has raked in nearly Rs.16 lakh crore through excise duty on petroleum products between FY15 and FY21 In India, crude oil prices have risen to a near three-year high. Subsequently, the retail prices of petrol and diesel, which were already high due to heavy tax rates, became higher in India. Notably, in recent times, whenever crude prices have been on the rise, the burden has been passed on...
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