Skip to main content

GST: No accord on dual control (the hindu)

The eighth meeting of the Goods and Services Tax Council failed yet again to reach a consensus on the critical issue of dual control, a major roadblock in the finalisation of the draft GST laws, Union Finance Minister Arun Jaitley said on Wednesday. The Council will meet again on January 16.

Mr. Jaitley, briefing reporters on the two-day meeting, said he expected both direct and indirect tax collections at the end of the year to exceed the budget estimates.

After the first day of the meeting on Tuesday, several State Finance Ministers said the April 1 deadline for the rollout of GST looked unlikely, with the likelihood of a July or September rollout increasing.

“The legal drafts of the draft laws with gaps have been sent for legal vetting and will be presented before the GST Council,” Mr. Jaitley said.

“The gaps refer to two broad areas. The first is the definition of the word ‘territory’, and the second has to do with the issue of dual control and cross empowerment.

“The territory issue is a complex one. The area of 12 nautical miles from the India coast is Indian territory,” he explained.

“Service tax in this area has been levied by the Government of India. But fishing in these areas has been taxed by the States.”

“The answer to this is not political, it is purely a constitutional issue,” Mr. Jaitley said.

One other issue raised by the States was the compensation, and how this amount should be increased due to the hit to State revenues caused by the demonetisation of high value currency notes.

“I have asked the States to give their revenue projections for the month of November, and also for the last two to three years, and then we will look into the matter,” Mr. Jaitley said.

Pre-Budget meeting


The Union Finance Minister also held a pre-Budget consultative meeting with the State Finance Ministers following the GST Council meeting. West Bengal Finance Minister Amit Mitra walked out in protest from the meeting stating that the Union Budget has become a meaningless exercise.

“The Prime Minister delivered a part of the Budget speech. He covered most of the important sectors [during his New Year’s Eve speech],” Mr. Mitra said, outside the meeting venue. “This has never happened before. What is the role of the Finance Minister?”

However, before leaving the meeting, Mr. Mitra made his presentation to Mr. Jaitley.

Comments

Popular posts from this blog

Cloud seeding

Demonstrating the function of the flare rack that carries silver iodide for cloud-seeding through an aircraft. 
Water is essential for life on the earth. Precipitation from the skies is the only source for it. India and the rest of Asia are dependent on the monsoons for rains. While the South West Monsoon is the main source for India as a whole, Tamil Nadu and coastal areas of South Andhra Pradesh get the benefit of the North East Monsoon, which is just a less dependable beat on the reversal of the South West Monsoon winds.

SC asks Centre to strike a balance on Rohingya issue (.hindu)

Supreme Court orally indicates that the government should not deport Rohingya “now” as the Centre prevails over it to not record any such views in its formal order, citing “international ramifications”.

The Supreme Court on Friday came close to ordering the government not to deport the Rohingya.

It finally settled on merely observing that a balance should be struck between humanitarian concern for the community and the country's national security and economic interests.

The court was hearing a bunch of petitions, one filed by persons within the Rohingya community, against a proposed move to deport over 40,000 Rohingya refugees. A three-judge Bench, led by Chief Justice of India Dipak Misra, began by orally indicating that the government should not deport Rohingya “now”, but the government prevailed on the court to not pass any formal order, citing “international ramifications”. With this, the status quo continues even though the court gave the community liberty to approach it in …

Indian Polity Elections (MCQ )

1. Who of the following has the responsibility of the registration of voters
a) Individual voters
b) Government
c) Election commission
d) Corporations


2. Democracy exists in India, without peoples participation and co operation democracy will fail. This implies that
a) Government should compel people to participate and cooperate with it
b) People from the government
c) People should participate and cooperate with the government
d) India should opt for the presidential system


3. Which of the following are not the functions of the election commission
1) Conduct of election for the post of the speaker and the deputy speaker, Lok sabha and the deputy chairman, Rajya sabha
2) Conduct of elections to the state legislative assemblies
3) Deciding on all doubts and disputes arising out of elections

a) 1 and 2
b) 1 and 3
c) 2 and 3
d) 2

4. Which of the following electoral systems have not been adopted for various elections in India
1) System of direct elections on the basis of adult suffrage
2…