Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
'Neither SAI nor state departments have a dedicated sports administration service. Instead, roles are filled by generalist civil servants or contractual staff, often lacking sector-specific expertise.'
They've proposed a sub-committee under the proposed GST Council or the Empowered Committee of State Finance Ministers to resolve any disputes in the tax's implementation.
'Only because of the absence of a dedication record in writing, how can such properties be treated as located on misappropriated government land?'
The Lok Sabha has already passed the Bill.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The GST Council's agenda includes trimming the number of items in the 28 per cent slab by 75 per cent, easier compliance for assessees and small taxpayers, and a presentation on bringing real estate under GST.
It will also be new Revenue Secretary Sanjay Malhotra's first GST Council meeting. He will take charge after the incumbent Tarun Bajaj retires on November 30.
Bibek Debroy was one of the very few economists not bound by any single area of expertise and was simultaneously curious about economics and politics, myths and maths, chess and chemistry, and what not, remembers Laveesh Bhandari.
After 17 tumultuous years, a nationwide Goods and Services Tax (GST) will rollout from midnight of June 30, overhauling India's convoluted indirect taxation system and unifying the $2 trillion economy with 1.3 billion people into a single market.
The empowered committee delegation, including state finance ministers participated in two round table conferences sponsored by the Indo-Canada Chamber of Commerce and the Canada-India Business Council. Tax experts from Couzon Taylor, Brian Wurts, HST Consulting etc, made presentations at the Canadian Imperial Bank of Commerce event.
Simpler GST structure will be key poll plank, Congress sources tell Archis Mohan.
The panel decided to omit the reverse charge mechanism (RCM) clause from the GST law under which registered taxpayers buying from unregistered taxpayers have to deposit the GST.
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
States' demand for 5 years and Constitutional provision ruled out
The 41st meeting of the GST Council, to be held via video conferencing, has just one agenda for discussion -- making up for shortfall in states' revenues, sources said.
The consensus was reached after the Centre agreed to the demand of states to go in for horizontal split
The central government, in its revised draft of the constitution amendment bill, had proposed that fuel and liquor should be brought under the ambit of GST.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
FM said a Constitution Amendment Bill for introduction of GST will be passed soon.
The GST will replace more than a dozen levies central and state levies, including central excise duty, service tax and central sales tax as well as VAT on sale of goods and entry tax, to make movement of goods seamless across 1.3 billion market.
According to Mitra, items such as foodgrain, vegetables, leather goods, footwear, cottage cheese, puffed and flattened rice, books and entertainment tax, among several others, should be in the zero-tax bracket.
'He will go to any extent, and he will have the full support of the Union government as they may not like a Left government to continue here.'
External Affairs Minister S Jaishankar said the passage of the amendment will strengthen India's national security and its global position.
GST reform has been hanging fire since 2006-07.
GST will also make our exports more competitive and also provide a level playing field to domestic industry to compete with imports, the President said.
Once more women assume leadership roles and join the nation-building process, he said, adding they will become a guarantee of the country's bright future.
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The GST Bill, introduced in Parliament in 2010, is being vetted by the Standing Committee on Finance. Now, the states and the Centre would together finalise the draft and bring it back to Parliament.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
By doing away with the 1 per cent inter-state tax over and above the GST rate, the government has met one of the three key demands over which Opposition Congress has been blocking the Bill in the Upper House
State finance ministers' panel to decide on latest attempt at harmonising of views on Constitution amendment.
Before leaving for Mumbai on Tuesday, Parrikar held a series of meetings, including one with senior state ministers.
Replying to a debate on the bill, Jaishankar said all members who spoke on the proposed legislation recognised that terrorism is a serious threat and so are weapons of mass destruction.
The bill was taken up for consideration in the Lok Sabha after the Speaker rejected Opposition demands to refer the key reform measure to a parliamentary Standing Committee.
The Opposition said that the government was 'bull-dozing'.
Under the GST regime, most manufactured goods will turn cheaper.
A well-functioning GST will enhance tax compliance and boost growth: IMF
'At the heart of the strategic relationship between our countries are economic ties.'
Last week, a Rajya Sabha committee had allocated five hours for discussion on GST.
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