A study would show that our country’s GST is not merely unjust but one that would generate immense problems. This has been ushered in through indoctrinating claims, screaming praise, as if it were a holy cow and a panacea for all ills (reminiscent of similar drama enacted when Modvat and VAT were introduced).
On the shocking claim that GST has been ‘adopted’ by more than 100 countries and that India should not be ‘left behind’, our GST creators may answer the following ten questions: Click to read more
One of the great promises of the Goods and Services Tax (GST), which was rolled out from July 1 this year, was that it would greatly simplify tax compliance, bring every state in the country under the same tax, and thus reduce the incentive to do cross border shopping and tax arbitrage. The assumption was that since the goods would attract the same taxes and therefore be at the same price in every state, there would be less incentive for sellers to sell in one state but generate invoices in another because of the different rates of taxes in the two states. Click to read more
The GST rollout, improvement in World Bank’s ease of doing business ranking and sovereign rating upgrade by Moody’s marked 2017, the finance ministry today said highlighting major accomplishments during the year.
“Enhancing the quality of life remained primary goal for government when it put into implementation the recommendations of the 7th Central Pay Commission to benefit more than 48 lakh central government employees,” the ministry, headed by Arun Jaitley, said in a statement. Click to read more
The government has said that it is too early to comment on GST collections, which slipped about 10 percent in November – over the previous month – to Rs 85,931 crore.
As per the information provided by the finance ministry to the Lok Sabha on Friday, as many as 33.2 lakh new taxpayers have registered themselves under GST till December 11 from the day of roll out on July 1. Click to read more
In the run-up to the Gujarat polls, the general perception was that the business disruptions caused by demonetisation and GST would cost the BJP the votes of the state’s trader community.
Many traders who spoke to Moneycontrol said the central government’s policies had hurt their businesses and so they would not vote for the BJP.
However, when counting of votes began on Monday, concerns of demonetisation and GST ruining the party for BJP seemed to have been overdone. Click to read more
Builders in the country who did not pass on the benefits of GST policy to consumers are likely to face investigation soon. The new development comes after a National Anti-profiteering Authority panel received several complaints regarding the reluctance of real estate firms to pass on the benefits of a tax cut to their customers.
A standing committee of officials who are attached to the recently established National Anti-profiteering Authority (NAA) is all set to investigate the complaints, a report in the Mint stated. Click to read more
The government’s back and forth over implementation of the e-way bill, seen as a crucial piece of legislation for India’s road transport and logistics industry, seems to characterise the pitfalls in the ambitious GST regime. Never more than now, as India’s truckers and goods transporters continue to struggle with state enforcement machineries like in the pre-GST days, even as they complain about high input cost structure and under-the-radar goods’ transportation continues unabated. Click to read more
Bharatiya Janata Party’s (BJP) spectacular electoral victory in the Uttar Pradesh Assembly election was, among other things, a validation of the 8 November, 2016 demonetisation decision of the Narendra Modi government.
Uttar Pradesh is one of the poorest states in India. Modi’s detractors, including the Congress, launched a frontal attack on this decision, saying demonetisation disproportionately affected the poor, farmers and small and medium-size industries by rendering them cashless for nearly two months. Cash drove the Indian economy, especially the unorganised sector, they argued. Ergo, demonetisation of the high denomination notes (Rs 500 and Rs 1,000) put the poor out of business, they contended. Click to read more
The Bharatiya Janata Party (BJP) pulled off a stunning victory in Himachal Pradesh on Monday, trouncing the incumbent Congress government.
While the BJP was expected to return to power from the beginning, its seat tally is impressive. It gained more than two-thirds majority in the 68-strong state assembly. It also got a 10 percentage-point jump in its vote share, going from 38.47% in the 2012 assembly elections to 48.7%. Click to read more