Plato, in Euthydemus, complains that the philosophers known as the sophists are indifferent to what is actually true or false, but are interested only in winning arguments. In other words, they are no different from our modern political class on the current agriculture reforms, where many of them are only trying to spread bovine faeces […]Read More
Tags : "cess"
The revenue accruing from GST compensation cess goes to the states and the Centre cannot borrow on the security of the tax which it does not own, Finance Ministry sources said. The Centre and opposition-ruled states are at loggerheads over the financing of the Rs 2.35 lakh crore GST shortfall in the current fiscal. Of […]Read More
By Omkar GoswamiLast week has seen a surfeit of news on the compensation cess involving the goods and services tax (GST). It is an extremely important issue that needs explaining in digestible prose. Here is an attempt. A nationwide GST creates a common market where the rates of indirect tax are the same across all […]Read More
New Delhi: Kerala is set to reject both borrowing options put on the table by the Centre to meet the GST compensation shortfall for FY21, even as other states questioned the tinkering of loan limits prescribed in the Fiscal Responsibility and Budget Management (FRBM) Act. Bihar, on the other hand, may go for the borrowing […]Read More
The Finance Ministry is not considering imposition of calamity cess on the GST as businesses are grappling with low sales and declining demand, sources said. Reports had earlier said that the central government is considering a calamity cess on the Goods and Services Tax, similar to flood cess imposed by Kerala in June last year. […]Read More
Former Karnataka Chief Minister H D Kumaraswamy on Monday suggested imposing “COVID cess” on the ultra rich to offset the loss of revenue, as he called for citizen-centric measures and lower the cost of living, to help those affected by the lockdown. Cautioning the state and Central governments about the impact of COVID-19 lockdown on […]Read More