Vinod Dua reads out Tripura CM Manik Sarkar’s speech that was allegedly censored by Prasar Bharati
Despite government press releases, demonetisation doesn’t appear to have spurred a substantial increase in number of new tax payers or direct tax collection.
Satpathy says he does not buy that there is no alternative to Modi in the next general elections and is confident of the re-emergence of the regional parties.
The consumer price index, the main policy target of the RBI, likely rose 1.87% in July from a year earlier, compared with an increase of 1.54% in June.
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In its mid-year economic survey, chief economic adviser Arvind Subramanian said there were downside risks to the official growth forecast of 6.75-7.5% for the fiscal year to March 2018.
Food and beverages account for nearly half of the consumer price index basket and are largely dependent on the monsoons, nearly 70% of precipitation.
Millions of companies are still not ready to file their first GST returns before the August 20 deadline, a top official said.
Surging prices caused by the tax dented demand for services and pushed the sub-index on new business to 45.2 in July, its lowest in nearly four years.
The Nikkei/IHS Markit manufacturing purchasing managers’ index fell to 47.9 in July from June’s 50.9, its first reading below the 50 mark.
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Ambiguous rules under the new, multi-rate sales tax that went into effect on July 1 have left firms confused on how to price their products.
“My belief in socialism comes out of my belief in human beings.”
Vinod Dua talks about the JNU VC’s request to install a military tank on campus and how funds meant to fight climate change have now been diverted to the GST regime.
The inter-ministerial group is likely to give in to a request for a hike in the duration of deferred spectrum payments, a move that could help increase the cash flow of telcos by Rs 55,000 crore.
The numerous conditions and riders attached to how the e-bill system functions will almost certainly hamper ease of doing business.
“The party’s stand is clear…The temple should be constructed in a legal manner and there should be mutual dialogue,” said the BJP president, also addressing election reform, reservations, GST and cow protection.
Finance Minister Arun Jaitley said that these two reforms combined will “certainly lead to greater compliance, greater digitisation,” adding that “expansion of the tax base of direct and indirect taxes is already visible.”
The economic wing of the Sangh parivar has been an important voice in raising concerns over how India’s Goods and Services Tax will hurt the informal economy.
The announcement to withdraw the protest was made yesterday by the traders who met finance minister Arun Jaitley in Delhi on July 17.
In conversation with the former Union minister on Narendra Modi’s rule, the future of the BJP and a possible alternative alliance.
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In India’s Big Government: The Intrusive State and How It’s Hurting Us, Vivek Kaul paints a grim picture of the economy and focuses on areas from banks to education in which the government plays a decisive, and all too often negative, role.
The traders have incurred a loss of over Rs 5000 crore in the last 22 days, while 15 lakh labourers have lost their jobs due to the shutdown.
Disability rights activists have also accused the GST Council of issuing misleading clarification on taxes.
Lakhs of labourers working in powerlooms and processing units have been rendered jobless due to the shutdown of mills due to the ongoing strike.
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Nearly 1,000 cinema halls in the state have been shut since July 3 with exhibitors going ahead with their stir to protest imposition of 30% local body tax in addition to 28% GST.
The Goods and Services Tax (GST) on gold has jumped to 3% from 1.2% previously, with traders and buyers saying the move will likely force more transactions into the black market.
While the government can justify various anti-profiteering measures based on socialist principles, the rules and methodology need to be clearly stated.
Manufacturing growth slowed last month with cool down in domestic consumption as optimism of future output wobbles amidst concerns over the newly implemented GST.
Tamil Nadu is the only state to have imposed an additional 30% entertainment tax in addition to the GST for film trade.
The government has imposed the highest-ever GST rate in the world, said senior Congress leader Randeep Singh Surjewala.
The opposition opposes extending the 101st amendment of the constitution to J&K, which would hand over powers of tax collection to the Centre and threaten the state’s autonomy.
While the council’s logic for multiple slabs may run counter to the philosophy of a good GST, it was necessary to get the project off the ground. Its future structure should absolutely avoid the temptation of arbitrary rate fixation.
Opposition parties refused to attend saying that the tax system overhaul was “half-baked” and “rushed” to create a self-promoting spectacle.
There are a few kinks to be worked out, but if implemented well, the manufacturing sector could be a GST winner while the telecom sector is likely to be worse off.
Will the multiple rate structure go against the very idea of GST? How controversial will the proposed anti-profiteering authority be? How will unutilised money in the compensation be shared?
How will India’s sixteen-year-in-the-making tax system overhaul impact the economy, India Inc, the informal sector and the consumer? The Wire explains breaks it down.
The government would do well to avoid hyping GST as India’s new midnight “tryst with destiny” and instead focus on its design and implementation, without which the biggest tax reform could turn into the biggest nightmare for the country’s economy.