-The Hindu Data being pooled to track evasion, says Finance Secretary. Tightening the noose around fraudsters rigging the Goods and Services Tax (GST) regime, the government has roped in the Income tax department to tap illicit incomes as part of a crackdown against 7,000 fraud companies, identified using data analytics tools, Finance Secretary Ajay Bhushan Pandey told The Hindu. Any income traceable to the use of fake bills and other GST frauds shall...
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Hard bargains and the art of policymaking -MR Madhavan
-The Hindu Discontent over the new farm laws is a result of sidestepping debate and discussion in Parliament The ongoing farmers’ agitation epitomises the need to have detailed discussions and consultations while making law and policy. The process of building consensus and addressing concerns may be time-consuming, but it leads to greater acceptance of policy objectives. While such work has to be done at multiple levels, Parliament is perhaps the most important...
More »Bengal, Kerala agree to Centre's GST borrowing formula
-The Telegraph Three states — Punjab, Jharkhand and Chhattisgarh — have not accepted the proposals yet Bengal and Kerala have dropped their opposition to the Centre’s borrowing option to bridge the gap in the Goods and Services Tax revenue receipts. The two states have opted for the limited borrowing option under which the Centre will borrow funds and pass them on to the states but the debt will be recognised in the balance...
More »Federalism, now a partisan internal dialogue -Sukumar Muralidharan
-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...
More »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...
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