Saturday, 22 January, 2022
TopicGST rate cut

Topic: GST rate cut

Cutting income tax is not the fix Indian economy needs. It’s slashing GST rates

Tax officials will try and collect more taxes to meet their optimistic targets. But that will have a further negative effect on consumption demand.

Lotteries take a hit, but states prevent other GST rates from being hiked

GST council votes to levy uniform 28% tax on both state and private lottery, which will come into effect from March 2020. The tax rate earlier was 12%.

Moody’s says recent GST rate cut will put extra pressure on India’s fiscal consolidation

The ratings agency estimated a revenue loss of around Rs 8,000-10,000 crore due to the GST cut.

Modi govt wants to know why your latte is so expensive, McDonald’s says thank GST

McDonald’s franchisee Hardcastle gets notice for not dropping the price even after GST rate cut, insists input tax credit withdrawal has left a deep impact.

GST rate cut shows reformist intent of Modi govt

GST rate cuts will help formalisation and boost business. Relaxation of return filing procedures should help smaller firms embrace the tax reform.

On Camera

YourTurn

File photo of students protesting against the reservation in Bandra | Representational image | ANI Photo

Indian drawing room talk on ‘merit’ stands demolished by Supreme Court NEET ruling

Supreme Court's explanation on the constitutional validity of OBC quota in NEET rejects commonly held views of dominant castes who are blind to India's social realities.
A visual representation of the digital Cryptocurrency, Bitcoin alongside US dollars | Photo: Dan Kitwood | Getty Images via Bloomberg

Joe Biden administration set to put itself at centre of US cryptocurrency policy

An executive order is being drafted which will soon set in place a govt strategy empowering US federal agencies to assess risks and opportunities posed by the digital assets.

Defence

The MacMahon Line, with Arunachal Pradesh marked in red | Source: US Department of Defence

Behind teen’s ‘abduction’ on LAC in Arunachal, a legacy of colonial maps, empires and wars

It's not clear which side of LAC Miram Taron was on when he was ‘kidnapped’. Different perceptions of the border in India & China and competing maps make this tricky ground.

Modi vs non-BJP CMs: When most popular isn’t all-powerful & why Centre-state ties will worsen

Modi’s inability to win many states, and the huge popularity his rivals enjoy there, is pushing Indian politics in a more robustly federal direction.
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