Daily 25 #OneLiners : 06 July 2018
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- Khadi And Village Industries Commission Launched eMarketing System
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- Khadi And Village Industries Commission Launched eMarketing System
- Miss Spain Angela Ponce 1st Transgender Model At Miss Universe 2018
- Maharashtra To Give Govt Employees 180 Days Paid Leave To Look After Kids
- India’s First Global Mobility Summit In New Delhi
- 19th World Congress Of Food Science And Technology In Mumbai
- Gujrat CM Launched ‘ Purna ’ Project To Eliminate Malnutrition Among Girls In The Age Group Lf 14 To 18
- MH Govt Allocates 15Cr For Acharya Balshastri Jambhekar Sanman Yojana
- International Finance Corporation (IFC) Invests $100 M in Mahindra & Mahindra Ltd
- Election Commission Launches Braille-Enabled Voter IDs
- ⭐️ Punjab CM Orders Mandatory Dope Test For All Govt Employees
- Russia Will Build 2 Nuclear Power Units In China
- Cabinet Approves DNA Technology (Use and Application) Regulation Bill , 2018
- ⭐️ Cabinet Approves Rename The Agartala Airport As ‘ Maharaja Bir Bikram Manikya Kishore Airport , Agartala
- Commonwealth Chess Champion 2018 Held In New Delhi .
- ⭐️ Piyush Goyal Launches ' Khan Prahari ' App
- Lieutenant Governor Does Not Have Independent Powers : Rules SC
- ⭐️ Election Commission Of India Launches ' cVigil ' App
- Bhutan PM Dasho Tshering Tobgay In India On 3-Day Visit
- Piyush Goyal Launched The Coal Mine Surveillance & Management System
- ⭐️ World's 1st Digital Art Museum Opens In Tokyo
- ⭐️ Uttam Dhillon Appointed Head Of Drug Enforcement Agency In US
- Major General Jose Eladio Alcain To Head UN Military Observer Group In India - Pakistan
- ⭐️ Sports Authority Of India Renamed As Sports India
- ⭐️ Gaming University Will Be Set Up In Andhra Pradesh , By UNESCO
- India's First Taxi Ambulance Services Launched In Delhi
( ⭐️ Symbol Show V-IMP News
[06/07, 8:00 PM] kranita379: At Sunday’s GST Day celebrations, Prime Minister Narendra Modi ruled out a single tax rate but hinted at lower rates for more items. He was reacting to criticism about the flawed implementation of the One Nation, One Tax concept. Rhetoric aside, there is a clear buoyancy in revenue after a wobbly initial trend. The government was eyeing a little over ₹90,000 crore a month to make up for the revenues earned under the earlier regime and to compensate States for any losses due to the GST. Finance Minister Piyush Goyal is confident that the average monthly collections this year could touch ₹110,000 crore. This surge must allay the fiscal concerns of the Centre and the States, and nudge policy-makers towards further rationalising the GST structure. If not a single rate, there is certainly room for collapsing at least two of the current rates. It is also imperative that rates not be tinkered with too often and pricing disputes not be a default option under anti-profiteering norms for industry. If cement, as a critical infrastructure input, must be taxed lower than 28%, then decide a rate and stick to it. In its second year, the GST Council must pursue a time-bound approach to execute plans already announced to ease taxpayers’ woes, such as an e-wallet for exporters and a simpler return form. Besides, there must be a road map to bring excluded products — petroleum, real estate, electricity, alcohol — into the GST net. This reform still has miles to go, and the government must stare down the temptation to take populist steps ahead of general elections.
[06/07, 8:00 PM] kranita379: At Sunday’s GST Day celebrations, Prime Minister Narendra Modi ruled out a single tax rate but hinted at lower rates for more items. He was reacting to criticism about the flawed implementation of the One Nation, One Tax concept. Rhetoric aside, there is a clear buoyancy in revenue after a wobbly initial trend. The government was eyeing a little over ₹90,000 crore a month to make up for the revenues earned under the earlier regime and to compensate States for any losses due to the GST. Finance Minister Piyush Goyal is confident that the average monthly collections this year could touch ₹110,000 crore. This surge must allay the fiscal concerns of the Centre and the States, and nudge policy-makers towards further rationalising the GST structure. If not a single rate, there is certainly room for collapsing at least two of the current rates. It is also imperative that rates not be tinkered with too often and pricing disputes not be a default option under anti-profiteering norms for industry. If cement, as a critical infrastructure input, must be taxed lower than 28%, then decide a rate and stick to it. In its second year, the GST Council must pursue a time-bound approach to execute plans already announced to ease taxpayers’ woes, such as an e-wallet for exporters and a simpler return form. Besides, there must be a road map to bring excluded products — petroleum, real estate, electricity, alcohol — into the GST net. This reform still has miles to go, and the government must stare down the temptation to take populist steps ahead of general elections.
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