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GST

GST Compensation

8th September – GST Compensation

GST Compensation The 41st meeting of the GST Council was held recently with the singular agenda of finding a solution to the question of how best to ensure that the compensation payable to the States as part of the implementation of the Goods and Services Tax continues to be paid. Background – The background for …

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GST

2nd September – Reforming the GST

GST reform needs a new grand bargain Three years ago, the Centre and the States of the Union of India struck a grand bargain resulting in the launch of the unified Goods and Services Tax (GST) era. The nationwide GST promised frictionless commerce across State borders, buoyant and leakproof tax compliance, and removal of inefficiencies …

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19th October – An inclusive strategy for India to revive its economic growth

From a peak of 8.1% in the fourth quarter of 2017-18, growth in gross domestic product (GDP) has now decelerated to a six-year low of 5% in the fiscal first quarter, with a slowdown visible across all sectors. We now require a macroeconomic strategy to revive aggregate demand in the short-run, while initiating structural reforms …

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GST – Discourse towards effectiveness (Part 1)

GST – Idea of uniform indirect tax rates Following the footsteps of Nobel laureate ‘James Mirrlees’, various economists broadly agree that indirect taxes should be uniform as is the nature of GST and the distributional concerns left to direct taxes and benefits transfers. Materializing the 101st Constitutional Amendment Section 19 of the Constitution (101st Amendment) …

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