-The Times of India NEW DELHI: During the last two years, the government collected more than Rs 16,400 crore as Swachh Bharat cess, meant to fund sanitation schemes, but the Comptroller and Auditor General (CAG) has pointed out nearly a quarter of the collection has stayed outside the dedicated fund. While collections through the 0.5% cess on all services was meant to be transferred to a non-lapsable Rashtriya Swachhta Kosh, over Rs...
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Why Indians will continue to pay high oil prices despite lower global rates?-Suchetana Ray
-Hindustan Times Consumers pay more than 100% tax – central and state levies combined – on petrol and diesel. New Delhi: Fuel prices in India are at a three-year high, although global crude rates halved over the same period, leaving many in the country to wonder why they must continue to pay more for petrol and diesel. The central government says that because states earn more in taxes on petrol and diesel, they...
More »All you need to know about GST
-Livemint.com Here are some FAQs about the Goods and Services Tax (GST) slated for rollout on 1 July What is GST? Goods and Services Tax (GST) is a value-added tax at each stage of the supply of goods and services precisely on the amount of value addition achieved. It seeks to eliminate inefficiencies in the tax system that result in ‘tax on tax’, known as cascading of taxes. GST is a destination-based...
More »How will the Centre ensure States' finances are not hurt?
-The Hindu GST will subsume almost all Cesses levied at the moment One of the key sticking points thwarting consensus in the Goods and Services Council over the course of its meetings in 2016 was the compensation the Centre would have to pay States for any losses they might incur due to the implementation of the new indirect tax regime. What was the issue? The GST is a destination-based tax, and as such is...
More »From plate to plough: Farm and the tax -Ashok Gulati & Siraj Hussain
-The Indian Express A smooth GST regime can break inter-state barriers on movement and facilitate direct linkages between processors and farmers After more than a decade of intense discussion and debate, the GST is finally becoming a reality. Although in its current form, it is not as perfect as was originally envisaged, yet it is being lauded as one of the most transformational reforms since 1991. Finance Minister Arun Jaitley was humble...
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