Opposition-ruled states warn of steep annual losses; Centre assures higher consumption will offset revenue hit.
On Thursday, the opening day of the movie itself, the Sangh Parivar came out with vehement criticism against the film on social media, while the Congress and a section of the Left platforms celebrated the film for portraying the right-wing politics as "villainous".
Finance ministers of states demanded an increase in allocation under 50-year interest-free loan scheme, while fiscally stressed states like Punjab and Kerala pitched for a special package and borrowing flexibility, sources said on Friday. In a pre-budget meeting with Union Finance Minister Nirmala Sitharaman, states have also urged for higher borrowing limits to support fiscal activities, besides additional funds for Jal Jeevan Mission.
The Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation, which convened in Goa on Wednesday, reviewed the GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials. However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi.
Term life insurance policies, and senior citizens' health insurance premium are likely to be exempted from GST as most members of a state ministerial panel favoured cutting taxes to benefit the common man, an official said on Saturday. The GoM to decide on GST on health and life insurance premiums in its meeting on Saturday decided to exempt GST on premiums paid by individuals, other than senior citizens, for health insurance with coverage of up to Rs 5 lakh. However, 18 per cent GST will continue to be levied for health insurance cover of over Rs 5 lakh.
'Digital courts will alleviate congestion in traditional courts.'
Of the two rate structures on the table, one suggests tax slabs of 8 per cent, 16 per cent, and 24 per cent. The other proposes tax slabs at 9 per cent, 18 per cent, and 27 per cent.
Tension gripped Kerala as an unidentified person allegedly hurled an explosive substance at the state headquarters of the ruling Communist Party of India-Marxist on Thursday night.
He did not like the first ticket he chose, so he opted for a different one which turned out to be a winner, he said.
Opposition on Friday demanded a detailed response from the government in Rajya Sabha on the Iraq crisis ruing that there is no data on how many Indians were still stuck there.
The killing of Karnataka official S P Mahantesh, said to be a whistle-blower in controversial land allotments by societies, was raised in the Rajya Sabha on Tuesday by a CPI-M member who suspected its linkages with the controversial Tatra Truck purchases in the defence ministry.
The finance ministry has set up two committees of state finance ministers which would rework rate slabs, review GST exempt items and identify potential evasion sources. Four years after the roll out of the national Goods and Services Tax (GST), which replaced the complex indirect tax structure, the centre and states have started work on moving towards a "simpler rate structure in GST" by reviewing the current rate slabs, including special rates and merger of rate slabs. The Group of Ministers (GoM) on rate rationalisation would also review items under inverted duty structure to help minimise refund payout, and review the supply of goods and services exempt under GST with an objective to expand the tax base and eliminate breaking of input tax credit (ITC) chain.
Flagging higher fuel prices in many opposition-ruled states, Prime Minister Narendra Modi on Wednesday called it "injustice" to people living there and urged the governments there to reduce VAT in "national interest" to benefit the common man. Modi raised the issue of many states not adhering to the Centre's call for reducing the Value Added Tax (VAT) on petrol and diesel after his government slashed excise duties on them in November last, and asked them to work in the spirit of cooperative federalism in this time of global crisis. Higher prices in some states were also harmful for neighbouring states, he added.
Kerala Governor Arif Mohammed Khan has written to Chief Minister Pinarayi Vijayan seeking 'constitutionally appropriate' action against Finance Minister K N Balagopal for making a speech 'undermining unity', a demand turned down by the CM.
Kerala Finance Minister K N Balagopal has sought systemic changes in the GST structure, saying every state and consumer has lost because of its basically flawed architecture that has also led to rampant revenue leakage for the states. The Goods and Services Tax (GST) regime came into force in July 2017. Even though the framework is focused on having a one-nation-one-tax model, quite a few items, including petroleum products and liquor are still out of the GST purview.
The demand for extension of the GST cess regime among others was made by several state finance ministers at a pre-budget consultation called by Union Finance Minister Nirmala Sitharaman in New Delhi. Besides, many states also demanded raising the share of the Union government in the Centrally Sponsored Schemes (CSS). Currently, the central government and state government share in some CSS is 60:40 while in others it is 75:25.
Employees face a bleak future, CPI (M) said.
Telecom Minister Ravi Shankar Prasad on Thursday offered to discuss the issue of call drops and poor service by state-owned BSNL and MTNL in the Rajya Sabha.
CPI-M veteran Pinarayi Vijayan was elected its Parliamentary party leader, paving the way for his successive stint as chief minister of Kerala.
Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5 per cent tax.
The Supreme Court on Wednesday allowed Massimiliano Latorre, the second Italian marine accused of killing two Indian fishermen off the Kerala coast in 2012, to remain in his country till the international arbitral tribunal decided the jurisdictional issue.
A parliamentary panel has pitched for 100 percent hike in salary and daily allowances of MPs and 75 percent raise in pension of ex-MPs apart from facilities for their "companions" in place of "spouses".
Select committees on Mines and Minerals Amendment Bill and Coal Mines Bill recommended their approval without any change
K N Balagopal (Communist Party of India -Marxist) said the Congress and the BJP were acting as A-Team and B-Team and not allowing the House to discuss the bills.
He said the government had examined the video recording of the February 28 condolence meeting of slain Vishwa Hindu Parishad leader Arun Mahaur, where Minister of State for Human Resource Development Ram Shankar Katheria had participated.
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