The Centre is looking to convene a meeting of the all-powerful Goods and Service Tax Council in early January. The meeting is likely to focus on rectifying the inverted duty structure for a few more items and will also serve as a platform for pre-Budget discussions between Union Finance Minister Nirmala Sitharaman and state finance ministers, Business Standard has learnt. "The current Winter Session of Parliament ends on December 23, followed by the Christmas-New Year period. "After that we would like to have a meeting of the GST Council, depending on whether there can be a quorum," a top government official said.
The all-powerful GST Council on Friday decided to charge food delivery platforms such as Swiggy and Zomato a tax even as it extended concessional tax rates on certain COVID-19 drugs by three months till December 31. The Council, which comprises the Union finance minister and her state counterparts, decided to continue keeping petrol and diesel out of the GST purview as subsuming the current excise duty and VAT into one national rate would impact revenues. Briefing reporters on the decisions taken by the Council at a meeting here, Union Finance Minister Nirmala Sitharaman said GST has been exempted on muscular atrophy drugs like Zolgensma and Viltepso, which cost crores of rupees.
'How do you deliver wealth when you don't have the slightest idea about it?' asks T C A Srinivasa Raghavan.
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.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
'Make in India is one of the priorities identified by Minister Sitharaman and this is our great weakness,' warns Vice Admiral Premvir Das.
Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5 per cent tax.
'Mr Modi would compliment a Nobel Prize winner, but members of his party or the government would not be restrained from either making unfair comments or criticising him for having offered advice to an Opposition political party,' says A K Bhattacharya.
'... it must network its battlefield units quickly, securely, robustly,' notes Ajai Shukla.
'While Piyush Goel, Dharmendra Pradhan, Rajyavardhan Singh Rathore and a clutch of former bureaucrats including R K Singh, Hardeep Singh Puri and K J Alphons are loyal BJP members, none of them fit the mould of party apparatchiks.' 'In fact, many of the latter kind have been shown the door or have been given reduced charges.' 'That goes to show the prime minister's comfort level in dealing with professionals and administrators and the trust he reposes in them,' says Shreekant Sambrani.
'New Delhi's rulers should be alert to lighting a dangerous tinderbox,' warns Sunil Sethi.
President Ram Nath Kovind presented Padma awards to 73 individuals, some posthumously, at a ceremony held in the Rashtrapati Bhavan here on Monday.
The Congress on Wednesday dismissed as 'bundle of lies' the Bharatiya Janata Party's charge that Sonia Gandhi and Rahul Gandhi gave any direction to the then Home Minister P Chidambaram in the Ishrat Jahan case.
It is time to reset expectations as government will move with alacrity on social policy, not on economic reforms.
'A close relationship between India Inc and the government cannot help the BJP win elections.' 'While Opposition parties may feel good about Mr Bajaj criticising the Modi regime, the BJP should be seeing the indictment as a political boon,' says A K Bhattacharya.
'India placed the order, primarily due to the IAF's 'critical operational necessity'.' 'The complexity of the IAF's requirements delayed the process for months.' 'It is these requirements which cannot be made public.' 'Can you image Indian politicians publicly discussing the pros and the cons of such military equipment?' 'It would provide India's enemies with indications about the IAF's tactical plans in case of a conflict.' 'It is crucial that they should remain secret to protect India's defence preparedness,' explains Claude Arpi.
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