-The Hindu India could be living through a reprise of the ‘Congress system’, but with significant differences in the BJP’s re-enactment At the first signs of stress, the grand vision of a nation unified in a singular system of taxation, was supplanted by a policy of every-state-for-itself. Just over three years ago, the introduction of a unified “goods and services tax” (GST) was heralded by a midnight session of Parliament, a theatrical...
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GST Council decides to extend compensation cess beyond June 2022: Sitharaman -Aparna Banerjea
-Livemint.com * Nobody is going to be denied the compensation which has arisen out of implementation of GST and COVID impact. A discussion with states is on,' says Sitharaman * Sitharaman adds that compensation cess collected this year amounting to about ₹20,000 crore will get disbursed to all states by tonight Union Finance Minister Nirmala Sitharaman during the 42nd Goods and Services Tax (GST) Council meeting today decided to extend compensation cess beyond...
More »The future of GST hangs in the balance -Praveen Chakrvarth
-The Hindu The Centre is best positioned to raise additional resources to bridge the GST compensation gap Today is the crucial meeting of the Goods and Services Tax (GST) Council. It may not be an exaggeration to claim that today’s meeting could mark a milestone in the history of India’s fiscal federalism and shape the future of Centre-State relations. In 2017, the Centre made a promise to the States that a certain minimum...
More »Political economy of the opposition to agri reforms -Roshan Kishore
-Hindustan Times Farmers in Punjab and Haryana, the richest agricultural states, which also account for the highest share of government procurement in India, are at the forefront of these protests. That it has been undoing historical wrongs to boost the Indian economy is a key narrative of the current Bharatiya Janata Party (BJP)-led NDA government. When such moves are criticised, it is quick to portray its opponents as representing a group of...
More »Why Centre’s Stance on GST Compensation is Utterly Bizarre -Prabhat Patnaik
-Newsclick.in Finance Minister Nirmala Sitharaman invoking ‘Act of God’ to deny states their promised dues, not only violates an Act of Parliament but also defies economic logic. When the Goods and Services Tax (GST) was introduced, and states virtually gave up the power to levy indirect taxes which they had enjoyed under the Constitution, the Centre had solemnly promised that it would compensate them for five years for any revenue shortfall arising...
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