Source: The Indian Express Relevance: This article explains government actions to boost investor confidence Synopsis: Along with the taxation Laws (Amendment) Bill, India has taken many steps to boost investor confidence. Introduction: The government has recently introduced the Taxation Laws (Amendment) Bill, 2021, in Parliament. The bill seeks to nullify the contentious retrospective tax law by amending the Income Tax (IT)… Continue reading The repeal of the retrospective tax shows Modi government means business on reforms
Tag: mobilisation of resources
The sovereign right to tax is not absolute
Source: The Hindu and Livemint Relevance: This article explains India’s sovereign right to tax and its limitations Contents1 Synopsis:2 Introduction:3 Does the state have a sovereign right to tax?4 Then how a state’s taxation can be questioned? Synopsis: India has a sovereign right to tax, but that right is subject to certain limitations. Introduction: The government… Continue reading The sovereign right to tax is not absolute
Does bill scrapping retro tax go far enough? Worries are the no interest clause, later I-T interpretation
Source: The Hindu, The Indian Express and Times of India Relevance: This article explains issues with the 2012 amendment which provide retrospective taxation and the challenges with the recent bill. Synopsis: Delayed reset on retrospective tax is only the first step to regaining investor confidence Introduction: The government has recently introduced the Taxation Laws (Amendment) Bill,… Continue reading Does bill scrapping retro tax go far enough? Worries are the no interest clause, later I-T interpretation
A grand tax bargain in danger of coming apart
Source: The Hindu Relevance: Issues with GST regime Synopsis: A version 2.0 of GST may have to be designed sooner rather than later. Issues existing with GST Non-expanding tax base: The tax base of GST does not appear to be expanding. The Tax to Gross value addition (GVA) is only about 5% to 6.5% though… Continue reading A grand tax bargain in danger of coming apart
