The RBI suggested in a December 2023 report that with GST impacting ‘vertical fiscal imbalance’, states should consider collecting additional taxes under the head ‘States’ Own Tax Revenue’.
It wasn’t immediately clear why these searches were conducted. Lenovo is one of several Chinese tech companies that central government has accused of evading GST & customs duties.
The raid for alleged tax evasion comes after Munde completed her Shiv Shakti Parikrama pilgrimage, seen as the Maharashtra OBC leader's attempt to consolidate her support base.
The decision to increase the tax rate on online gaming demonstrates that the GST regime still exhibits stratification, deviating from the original aim of uniformity.
It will deter consumers from using legitimate platforms & may promote betting and gambling, they add. Industry contributed more than Rs 2,200 cr GST in 2022.
Finance Minister Sitharaman announces decision taken at GST Council meet, adds cancer drugs, medicines for rare diseases and food products for special medical purposes exempt from GST.
It would ideal that we have only one tax law for the entire country—One Nation, One Tax. It should be such that it calculates the tax due and recovers it too.
With the ongoing conflict at the Red Sea, India needs to take a long-term view of the PLI scheme and its ambition to emerge as a hub of shipping containers.
Data shows large public sector banks received highest number of complaints in absolute terms, but fared better than several private banks when looked at on complaints-per-branch basis.
For BJP, CAA was strategic move that did not quite work out because those it would benefit could’ve been accommodated under existing laws, and new entrants would remain excluded.
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