Sukumar Mukhopadhyay, former member, Central Board of Excise and Customs, and Govindrao Adik, MP and General Secretary, NCP, debate the pros and cons of offering amnesty to tax evaders.
The Comptroller and Auditor General reports saw senior politicians, powerful ministers and top bureaucrats end up in jail. Thanks to those reports, public scams such as 2G, Coalgate and the Commonwealth Games became part of the popular discourse.
Bridging the fiscal deficit and facilitating investments were the prime concerns of Budget 2013.
The thesis that the taxpayer has the right to be taxed the least amounts to saying that if he is faced with two exemptions, which are applicable to a particular commodity, the taxpayer can choose the one more beneficial to himself.
The tax base should comprehensively extend over all goods and services up to the final consumer point.
'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
Pushing people to litigation is a major source of tax uncertainty.
GST necessarily includes service tax, but VAT can only be on goods without including service tax
Change in performance appraisal system will deter corruption and motivate officers to pass correct orders.
Simplicity will make the Budget investment-friendly
Several exemptions have been given to reduce the cost of raw materials.
The doctors, who are protesting against the assault on two of their colleagues at NRS Medical College and Hospital, had on Friday sought unconditional apology from Banerjee and set six conditions for the state government in order to withdraw their stir.
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