Since GST rollout in July 2017, many items are being taxed at varying rates despite their strong likeness. Experts say this is likely to continue unless slabs are reduced.
The gross GST revenue collected in August was Rs 1.12 lakh crore, lower than Rs 1.16 lakh crore mopped up in July. However, the figures were 30% higher compared to August 2020.
PM Modi said he was optimistic that 130 crore Indians will continue to work hard to achieve new heights as the country prepares to celebrate the 75th anniversary of Independence.
While tax has proved Nirmala Sitharaman’s strong suit, there have been policy negatives as well, including under-performance on privatisation and failure to fix banking mess.
The GST council on 28 May had decided that the central government would borrow Rs 1.59 lakh crore and release it to the states, UTs under the back-to-back loan facility.
Finance Minister Sitharaman said GST revenues have crossed Rs 1 lakh crore-mark for 8 months in a row and India saw a record revenue collection of Rs 1.41 lakh crore in April 2021.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
PTC Industries is investing Rs 1,000 cr in 4 manufacturing plants in UP, has already started supplying titanium parts to BAE Systems for its M-777 howitzers that India also uses.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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