Earlier this month, GST Council unanimously approved collapsing the existing four-tier structure into a simplified two-slab system, effective 22 September—coinciding with Navaratri.
The reforms are a paradigm shift in India’s approach to economic governance. The system is simple enough for a small shopkeeper, yet sophisticated enough to power a $5 trillion economy.
The PM said the reforms, effective 22 September, are a ‘double dose’ for support & growth, & are ‘related to Matrishakti’ (motherly power), benefiting the common person.
New Delhi: In a significant simplification in the GST regime, which will benefit the common man, Finance Minister Nirmala Sitharaman on Wednesday announced consolidation...
The root cause of GST’s complexity lies in the multiplicity of rates. Time and again, experts recommended a simple dual-rate system. They were all ignored.
An op-ed in South China Morning Post also lists 4 major issues, besides border, that obstruct India-China’s relationship & reflects on how the 2 nations can 'improve mutual understanding'.
Union Finance Minister Nirmala Sitharaman provided clarity on some key decisions taken by the Council, such as taxes on food and non-food items & taxes on resale of electric vehicles.
Issue of GST on food items is in news again after hotel owner’s viral interaction with Finance Minister Sitharaman last week. But complexities highlighted go back further in time.
GST council in its 54th meeting exempted universities, research centres governed by central or state govt, or those exempted from Income Tax, from paying GST on research grants.
Is there a place for a counter-bureaucracy, or a separate and competing bureaucracy to counterbalance the force of the executive’s bureaucracy, asked author MH Mody in 1980.
With bad loans shrinking & capital buffers stronger, urban co-op banks’ new umbrella body NUCFDC is now prioritising rollout of digital transformation.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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