-Business Standard The share of GST collections in GDP has stagnated, even as IGST revenues from imports have gone up sharply The Modi government is elated over the steady improvement in the collection of goods and services tax (GST) in recent months. Along with the sharp growth in collections of other Union taxes, GST collections have also crossed the Rs 1-trillion mark for each of the last six months beginning July 2021. Please...
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The Great Petro Robbery - Subodh Varma
-Newsclick.in Modi government has been mercilessly hiking up taxes on petrol and diesel to take money from the people and boost its resources. Since the prices of petroleum products were deregulated some years back and supposedly “linked” to markets, the central government has weaponised this to simply impose an indirect tax burden on the people. Take the four big metros: Delhi, Mumbai, Kolkata and Chennai. On an average, petrol prices have increased from...
More »Taxes On Covid-Related Drugs, Equipment Are Unacceptable
-NDTV The government is taxing people who buy Covid-related medical drugs like Remdesivir and others, as well as taxing the supplements and medical grade oxygen for oxygen cylinders, with a tax as high as 12 per cent. New Delhi: Indian and global medical experts are shocked at the Indian government making money off the sick and dying. Every expert consulted for this report said this has to stop. A family that buys an...
More »GST cess falls 42% short in FY20
-The Hindu Compensation for last fiscal paid to States using previous years’ balance of cess The Centre made up a 42% shortfall in Goods and Services Tax compensation cess collection in 2019-20 by using balance of cess from previous years, plus a transfer from the Consolidated Fund of India. Meanwhile, the GST Council, which was slated to meet this month to discuss the possibility of market borrowing to meet likely future shortfalls,...
More »GST, a buoyant force -Kapil Patidar & Arvind Subramanian
-The Indian Express Aggregate revenues have done well, despite headwinds, especially for less developed, consuming states One fiscal year into the implementation of the GST, it is worth asking how it has performed in terms of revenue generation both for the country and for individual states. And here the news, based on analysing nine full months of data, is encouraging. Three important and new points stand out. One, aggregate revenues are highly buoyant....
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