-ThePrint.in In 'The Working of the Indian Constitution', T.M. Thomas Isaac examines the functioning of GST to assess if its high expectations have been realised. The Goods and Service Tax (GST) Council has been hailed as a model federal institution, where both states and the centre are represented, and consensus is arrived through a detailed deliberative process. Until the 38th GST Council meeting in December 2019, there had not been a single...
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Will implement CAA when Covid pandemic ends: Amit Shah in Bengal
-Hindustan Times Although the controversial law was passed in 2019, the rules on how it is to be implemented have not been framed yet, and the government has said this will happen once the pandemic ends. The Citizenship Amendment Act (CAA) will be enforced as soon as the Covid-19 pandemic gets over, Union home minister Amit Shah said in West Bengal on Thursday, accusing the ruling Trinamool Congress in the state of...
More »States vs Centre: Which govt. increased the fuel tax rate? -Vignesh Radhakrishnan
-The Hindu What is the Opposition-ruled States’ stand on reduction of value added tax to bring down petrol prices? The story so far: Petrol is retailing at more than ₹100 per litre across India. While rising crude oil prices have added to the burden, the primary reason behind the steep increase in pump fuel prices over the last few years is the gradually rising Central Government's excise duty component. Currently, for every...
More »Petrol/Diesel Prices: Who is Responsible for Back-breaking Hikes? -Subodh Varma
-Newsclick.in The central government has raked in over Rs18 lakh crore from excise duties compared to Rs14 lakh crore from taxes by all state governments over the past eight years. Yet again, the government has tried to obfuscate the exorbitant petrol/diesel prices by blaming state governments. This time, it was the Prime Minister himself who blamed some Opposition-ruled states for not reducing taxes like the Value Added Tax (VAT) after the central...
More »India lost over Rs.90,000 crore to trade misinvoicing, says GFI report
-Livemint.com * Of the total estimated revenue losses, approximately $4 billion was due to export misinvoicing and approximately $9 billion due to import misinvoicing * Almost two-thirds of Indian imports that appear to be most at risk for some degree of potential revenues losses are imports from China New Delhi: India lost a staggering $13 billion, over Rs.90,000 crore, to trade misinvoicing, equivalent to 5.5% of the value of the country's total revenue...
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