A ministerial panel on levying calamity cess on Monday said the NDRF fund was not sufficient to meet relief work expenses in the wake of natural calamities and decided to seek states’ views on whether a state-specific or a nationwide ‘disaster tax’ should be levied under the GST.
Bihar Deputy Chief Minister Sushil Modi, who heads the seven-member group of ministers (GoM), said the panel would also seek comments from the Attorney General on the legality of levying a ‘disaster cess’ or a ‘disaster tax’ to help states hit by natural calamities. Click to read more
A panel, headed by Bihar Deputy Chief Minister Sushil Modi, on Monday put on table three options to raise additional funds under the goods and services tax (GST) to help Kerala and other states in their post-disaster relief and rehabilitation work.
The levy could either be a state-specific tax levied as state GST, or there could be a supplementary disaster response fund, parallel to the existing national disaster response fund (NDRF). As a third option, the group of ministers (GoM) would consider strengthening the existing NDRF. Click to read more
A group of States’ Finance Ministers has decided to seek opinion from all the States on ways and means to raise additional resources to meet expenditure on account of natural calamity or disaster. It also plans to get advice from the Attorney General (AG) on the issue.
The group met here on Monday under the convenor-ship of the Deputy Chief Minister and Finance Minister of Bihar, Sushil Kumar Modi. While the Finance Minister of Kerala TM Thomas Isaac, Finance Minister of Punjab Manpreet Badal and Finance Minister of Odisha Sashi Bhusan Behera attended the meeting, two others Finance Ministers, Sudhir Mungantiwar (of Maharashtra) and Prakash Pant (of Uttarkhand) could not attend the meeting. Click to read more
The Group of Ministers (GoM) formed to examine modalities for revenue mobilisation for natural calamities and disasters on Monday decided to seek views of all states on whether the cess should be state-specific or nationwide as panel members were of the view that NDRF funds are insufficient for disaster relief measures.
After the first meeting held on Monday, the panel’s head and Bihar Deputy Chief Minister, Sushil Modi, said that the panel would also seek view of the Attorney General of India on the legality of levying a cess or a tax to fund states hit by natural calamities. “The GoM (Group of Ministers) has decided that the GST Council will prepare a questionnaire and send to states for response. Click to read more
The Group of Ministers (GoM) formed by the GST Council on Monday agreed that funding from the national and state disaster response funds — NDRF and SDRF — are not sufficient in case of disasters and a new mechanism to raise funds is required.
“We had a preliminary discussion and the members felt SDRF and NDRF are not sufficient to compensate the states in case of natural calamities and disasters,” GoM Convener and Bihar Finance Minister Sushil Kumar Modi said after the group’s first meeting here. Click to read more
Congress president Rahul Gandhi said on Monday that a one-slab Goods and Services Tax (GST) will be implemented if his party is elected to power at the Centre.
The Gandhi scion lambasted the present multi-slab GST, saying it has “ruined” the small shopkeepers in the country.
“How much money did this Gabbar Singh Tax take away from your pockets? After this meeting, you should go to a small shopkeeper and ask him whether the GST benefited him or resulted in a loss,” Gandhi said at a public meeting in Madhya Pradesh’s Dabra. Click to read more
The Director General of Anti-Profiteering (DGAP) has alleged that the fast moving consumer goods (FMCG) major Nestle has deprived customers of goods and services tax (GST) cuts of Rs 98 crore, according to sources. The DGAP last week submitted the investigation report to the National Anti-Profiteering Authority (NAA), the apex anti-profiteering body functioning under Ministry of Finance. The NAA will now hear the parties and come up with a final order in three months.
On its part, Nestle India spokesperson, in an e-mail reply, said “While the company had taken appropriate measures to pass on commensurate benefits to our consumers, in situations where the benefit could not be passed on instantly by reduction in maximum retail price or increase in grammage, the amount was set aside to be subsequently passed on and was not reckoned either in sales or in profit”. Click to read more
The Central Electricity Regulatory Commission (CERC) has issued an order to compensate solar power developers (SPD) by giving them an upfront lumpsum payment, which they would have incurred as an additional capital expenditure after the introduction of GST Law.
CERC has also asked the government agencies to make adjustments in the quoted tariff because of the additional operating and recurring expenditure that will incur for the entire term of the project.
CERC was responding to a petition filed by leading solar project developers Azure power and ACME. Click to read more