-The Hindu The long-term benefits of GST are clear — the challenge is to quickly address the short-term obstacles The Goods and Services Tax (GST) is in force from today. The reform, touted as a “game changer” and the “reform of the century”, was deemed worthy of a launch on the midnight of June 30 in the Central Hall of the Parliament. Indeed, one is reminded of the famous speech by Pandit...
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Pronab Sen, former Planning Commission member and former Chairman of the National Statistical Commission, interviewed by TCA Sharad Raghavan (The Hindu)
-The Hindu It’s complex than elsewhere both in terms of number of rates and jurisdictions The form of Goods and Services Tax being implemented from July 1 is uniquely Indian, according to former Planning Commission member and former Chairman of the National Statistical Commission Pronab Sen. In an interview to The Hindu, he says the indirect tax regime will make it easier to start a new company, but increases complexity for those...
More »Is WPI useful in India anymore? -Barendra Kumar Bhoi
-The Hindu Business Line Using just wholesale price index as deflator could distort real GDP. Price indices for all inputs and outputs would work better Prior to the introduction of the all-India Consumer Price Index, popularly known as CPI combined (rural plus urban), the Wholesale Price Index (WPI) was the most useful price index in India. It measured the weekly rhythm of price movement in the country. Since 2009, WPI has been computed...
More »Telecom to banking, most services to be costlier with GST -Sidhartha & Pankaj Doval
-The Times of India NEW DELHI: For some days now, several service providers — from insurance and banking to telecom and hotels — have been sending emailers to customers warning of a GST-driven increase in prices starting July 1. Alarmed and unconvinced, the revenue department in the finance ministry has roped in other ministries to impress upon industry to adjust input tax credit against possible increase in tax liability. The tax credit...
More »GST Is Proving to Be a Procedural Nightmare for Small Service Providers and Traders -MK Venu
-TheWire.in Most of the outreach efforts of the finance ministry to explain and create awareness about the GST have been with the bigger industry players. It is becoming increasingly clear that that neither the Centre nor states are adequately prepared to launch the goods and services tax (GST) on July 1. The sheer multiplicity of Taxes, as also different tax slabs for the same commodity or service, is a problem which has...
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