Synopsis: The issue of special allowances under GST on Covid-19 relief products is being projected as a Centre versus states issue. Introduction This is an attempt to gain political benefit on an issue of human and national importance. The structure and design of GST are being questioned. Already settled debates on the decision-making process in… Continue reading Special treatment under GST for few states is a bad idea
Tag: ECO_0
Global Minimum Corporate Tax and India – Explained, pointwise
Contents1 Introduction2 About Global Minimum Corporate Tax (GMCT)3 History of Global Minimum Corporate Tax4 Current Scenario of Global Minimum Corporate Tax5 The rationale behind the introduction of Global Minimum Corporate Tax6 Challenges in the adoption of Global Minimum Corporate Tax7 India and Global Minimum Corporate Tax Rate8 Suggestions to improve Global Minimum Corporate Tax Rate Introduction… Continue reading Global Minimum Corporate Tax and India – Explained, pointwise
Problems with “one state one vote” structure of GST Council
Synopsis: The “one state one vote” structure under GST Council is a flawed one. It needs to be replaced with a proportional representation of voting in the GST Council. This system should be based on the size of states or their revenue contribution to the GST pool Contents1 Background2 What is the distribution methodology for… Continue reading Problems with “one state one vote” structure of GST Council
The tussle of Digital Services Tax between India and US
Synopsis: The US has rolled back its increased tariff on products of 6 countries including India. It now wants to negotiate, over the imposition of a digital service tax by the 6 nations. It is even willing to engage in a future trade war. Contents1 Background:2 What is the Digital Services Tax (DST) imposed by… Continue reading The tussle of Digital Services Tax between India and US
Road towards a Global Minimum Corporate Tax
Synopsis: The US has proposed a 15% Global Minimum Corporate Tax that will prevent tax avoidance by companies. The tax would be beneficial for India. But many counties will not accept the tax structure. Background: The Base Erosion and Profit Shifting (BEPS) programme were initiated in 2013. It aims to curb practices that allowed companies to reduce their… Continue reading Road towards a Global Minimum Corporate Tax
Highlights of 43rd GST Council Meeting
Synopsis- Key recommendations made during 43rd GST Council meeting and why it is a missed opportunity. Contents1 Introduction 2 Key recommendations during 43rd GST council meeting3 Key points missed in 43rd GST council meeting4 Way forward- Introduction 43rd GST Council Meeting took place recently. There were announcements of several measures. However, they failed to inspire any… Continue reading Highlights of 43rd GST Council Meeting
Cooperative Federalism is Necessary for the Success of GST in India
Synopsis: Without a strong framework for ‘Cooperative federalism’ it is unlikely that the GST mechanism will survive in the future. Contents1 Background2 What are the issues hampering Cooperative Federalism in India?3 What are the issues that are affecting the GST mechanism in India?4 Problems in GST Background The GST Council is troubled with mistrust under… Continue reading Cooperative Federalism is Necessary for the Success of GST in India
Analysis of GST regime in India – Explained, Pointwise
Contents1 Introduction2 A brief about GST Regime in India3 About GST Council4 Achievements of GST regime in India5 Issues in GST Regime in India5.1 Erosion of ‘trust’ and ‘trustworthiness’ 6 Suggestions to improve the GST regime in India7 Conclusion Introduction The GST Council was mandated to meet at least once every quarter, but due to the… Continue reading Analysis of GST regime in India – Explained, Pointwise
Need for Eco Tax in India
Synopsis: Eco Tax in India can be useful for sustaining public Health financing as well as in mitigating effects of climate change. Contents1 Background2 Benefits of implementing Eco Tax in India3 How Eco tax can be implemented?4 What is the way forward? Background India’s tax revenue decreased significantly during the Pandemic. It has resulted in… Continue reading Need for Eco Tax in India
Government Notifies Rules for 74% FDI in Insurance Sector
What is the News? The Finance Ministry notified the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021. These rules will apply to all insurers irrespective of the stake held by the foreign partner. These rules will give an effect to increased FDI limit in the Insurance Sector to 74% from 49%. Key Provisions of the Rules:… Continue reading Government Notifies Rules for 74% FDI in Insurance Sector
