'Religious heads should create awareness on communal harmony,' says Karnataka minister Dinesh Gundu Rao
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Indian Express
15 minutes ago
- Indian Express
GoM meeting on GST reforms next week, tight timeline for Council's nod
The Group of Ministers (GoM) on Rate Rationalisation is set to meet in the coming week to discuss the proposal on next-generation GST reforms Prime Minister Narendra Modi announced on Friday. The GoM has ministers from six states: Kerala, Uttar Pradesh, Rajasthan, West Bengal, Bihar and Karnataka. While the proposal was shared with the ministers from the six states a day before the PM's Independence Day address, the Department of Revenue in the Union Ministry of Finance will make a presentation to the GoM when it meets, sources said. Sources in the Union Finance Ministry said they were confident the GoM and later the GST Council would find merit in the proposal. Internal calculations by the Department of Revenue in the Finance Ministry suggest that gross GST revenues under the proposed two-pillar rate structure of 5 per cent and 18 per cent will not be lower than what it is now. Giving a broad idea of the proposal, sources said most of the products and services would be placed in either of the two rates — 5 per cent or 18 per cent. Goods and services used by the common man, or as inputs by farmers, small entrepreneurs and MSMEs, will attract the lower 5 per cent duty. This will reduce the tax burden and is expected to drive consumption. Most other goods and services will attract the 18 per cent rate, they said. Sources said that in categorising goods and services as sin and demerit goods and bracketing them under the special rate of 40 per cent, the Department of Revenue has kept in mind the country's 'social ethos'. At present, there are multiple rate slabs — 5 per cent, 12 per cent, 18 per cent and 28 per cent — and a compensation cess ranging from 1 per cent to 290 per cent that is levied on sin and luxury goods such as cars, refrigerators, air conditioners, pan masala, tobacco and cigarettes. With loans taken by the Centre to pay compensation cess to states getting recouped and fully repaid by November-December, the cess rates on goods are proposed to be subsumed at this special rate of 40 per cent, sources said. But on some goods like tobacco, the tax incidence is substantially higher than 40 per cent; the government is aware of this, and a separate mechanism may be arrived at in due course, the sources said. Though there might be an initial impact on revenues, the gains from higher compliance and consumption are expected to offset the losses, they said. Against a tight timeline, the Centre is learnt to have factored in at least three meetings of the GoM before a final proposal is put before the GST Council, the apex decision-making authority on aspects of the indirect tax regime that was introduced in 2017. Indications are that a rollout is being targeted well ahead of Diwali, since the industry needs time to reconcile to the new rate structure and any disruption ahead of the festive season would need to be avoided. 'In the eight years of GST, there has so far been patchy tinkering of tax rates and slabs. That piecemeal addressing of problems with the tax regime has only complicated the structure further and has ended up with a system that is even more complicated and layered than what was originally envisaged. What we are doing now is a holistic revamp of the tax system with two main rates that will be the two pillars of the tax regime,' said the source 'This structural reform to the tax regime would be accompanied by process reforms that include sorting out registration issues and problems with refunds, and changes in how automated notices are generated to make the interface smoother,' said the source. As per the proposal, the government is looking to implement pre-filled returns to reduce manual intervention, eliminate mismatches and compliance burden due to multiple notices. Changes will also be made on the refunds front, with the proposal aiming to provide a major portion of refunds within a fixed number of days and enable automated processing of refunds for exporters and those with inverted duty structure. 'In Income Tax, the tax department keeps your TDS (tax deducted at source) amount for one year and pays you the refund after your return filing. But since they pay fast, the taxpayer feels happy about it. In GST, there are refunds that are given three times or four times a year. But people still complain. Now, the crucial difference here is that in the case of GST, the timing is crucial, since it (the refund) is working capital for the enterprise. So, there is a need to make the processes faster. All these will be part of the process reforms,' the source said. The Centre is learnt to have factored in at least three meetings of the Group of Ministers (GoM) before a final proposal is put before the GST Council. Indications are that a rollout is being targeted well ahead of Diwali, since the industry needs time to reconcile to the new rate structure and any disruption ahead of the festive season would need to be avoided. The multiplicity of rates in the current GST regime, officials said, had triggered problems of implementation, confusion of interpretation, and disputes. 'So, we wanted to make it simple. Ideally, one tax rate would have been the best solution, but it is not practical. Currently, we have five rates, alongside the exempt items and special rates for items such as jewellery or diamonds. Now we would have two rates (5 per cent and 18 per cent). The third rate (40 per cent) is exceptional. You need to justify why something should go there. Currently, 28 per cent is part of the structure. 40 per cent in the new regime is not. That is the difference,' the source said. The PM's announcement has to be seen in the context of it being a proposal for states to consider, the source said. 'A reform like this should have everybody on board for it to work best. The GoM on rate rationalisation has been working on this issue for the last four years… The Centre has now taken a leadership position on this, and put this proposal for consideration of the panel,' a source said. The Centre, sources said, is convinced of the buoyancy from the rate rationalisation taking care of the worries stemming from revenue loss, unlike an earlier attempt in 2018 when rate cuts did not result in revenue gains. 'There were problems then (2018), since it (the cut) led to inversions in duty rates in multiple sectors and that led to some amount of gaming of the system by players to avail of input tax credits. Evasion grew… This move to revamp the rate structure (now) is to avoid inversions and inversions-related problems,' an official said. 'Technically, the states should be convinced. Politically, one has to see how they respond,' the official said.
Time of India
25 minutes ago
- Time of India
Kerala CM slams PM Modi for praising RSS in I-Day speech
T'puram: Chief minister Pinarayi Vijayan has criticized Prime Minister Narendra Modi for praising RSS in his Independence Day speech. He stated that giving credit to RSS and V D Savarkar for Indian independence was a denial of history. Vijayan said it was a dishonour to the independence struggle that the Prime Minister chose Independence Day itself to eulogize those who worshipped the British. RSS was banned in connection with the assassination of Mahatma Gandhi, and Savarkar faced conspiracy charges related to the murder, the chief minister said. Any amount of ridiculous efforts to whitewash an organization like RSS would not work. The conspiracy behind such an exercise was clearer in the Union petroleum ministry's Independence Day poster, featuring Savarkar above Gandhiji, he added. "It shows the panic of those who fear the history of the freedom struggle," Vijayan said in a statement. "Indians joined the national independence movement beyond caste, religion, dress and language differences. RSS played the role of bystanders then. They openly opposed the fundamental ideological concepts of the freedom movement. Instead of the unity in diversity that Indian nationalism upholds, they promoted a Hindutva nationalism based on majority communalism. On Nov 26, 1949, when the Constituent Assembly gave final approval to India's Constitution, the RSS mouthpiece, Organizer, editorialized that Manusmriti should be upheld instead of the Constitution," the chief minister said. Vijayan said Savarkar boycotted the Independence Day celebrations on Aug 15, 1947. It was this same Savarkar whom the Sangh Parivar is now projecting as a leader of the freedom struggle. RSS, which stood aloof throughout the phases of the freedom struggle, is now engaged in creating false narratives to claim a role in the national movement. "What respect do those who called for observing Aug 14 as a day of Partition horror have for Independence Day?" he asked. The nation must stand united against any attempt to bury the history of humanity and mutual respect and replace it with hatred, he added. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
29 minutes ago
- Time of India
Punjab finance and taxation minister Harpal Singh Cheema leads I-Day celebration in Ropar
Ropar: Punjab finance and taxation minister Harpal Singh Cheema hoisted the national flag at the 79th Independence Day celebration held at Nehru Stadium, Ropar, on Friday. Following the flag hoisting, Cheema, escorted by deputy commissioner Varjeet Walia and senior superintendent of police Gulneet Singh Khurana, inspected the parade. Led by DSP Jashandeep Singh Maan, contingents from the Punjab police (male and female), Punjab home guards, various schools and a band participated in the march past. Cheema paid tribute to the freedom fighters, including Shaheed-e-Azam Sardar Bhagat Singh, Rajguru, Sukhdev, Sardar Kartar Singh Sarabha, Shaheed Udham Singh, Madan Lal Dhingra, Lala Lajpat Rai and Diwan Singh Kalepani, whose struggles secured the country's freedom. He proudly stated that Punjabis have made the most sacrifices in the freedom struggle. While addressing the gathering, he highlighted the state govt's commitment to restore Punjab to its former glory. He noted that in honour of the freedom fighters, the Mohali International Airport was named after Shaheed Bhagat Singh , and his statue was installed there. Furthermore, portraits of Shaheed Bhagat Singh and Dr B R Ambedkar had been placed in all govt offices, he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Could This NEW Collagen Blend Finally Reduce Your Cellulite? Vitauthority Learn More Undo He emphasised the govt's significant achievements in education, health and employment. He claimed the Punjab govt has provided more than 55,000 govt jobs. In the National Achievement Survey 2024, Punjab's education system ranked first, surpassing states like Kerala. This year, 848 govt school students qualified for NEET, 265 for JEE (Main) and 45 for JEE (Advanced). In the health sector, the finance minister announced revolutionary changes. Currently, 881 Aam Aadmi clinics are operational, offering 107 types of medicines and 47 lab tests free of cost. He also announced that a health insurance scheme of up to Rs 10 lakh for every family will be implemented from Oct 2. This scheme, which requires only an Aadhaar and voter card to avail, will cover medical expenses for all citizens of Punjab, regardless of income. Around 3 crore people are expected to benefit from this initiative, which includes impanelment of 552 private and all govt hospitals, with plans to add 500 more hospitals soon. Cheema honoured the district's freedom fighters and veterans with shawls, calling them the pride of the nation whose sacrifices allowed citizens to enjoy freedom today. The event featured a vibrant cultural programme with performances, including choreography, dances and gidda by students from various schools. The sports department of Rup Nagar presented a skit on 'Freedom from Drugs' prepared by Rup Nagar's sub-divisional magistrate (SDM) Sanjeev Kumar. Impressed by the band performance of Shivalik Public School, Cheema announced a grant of Rs 15 lakh for the school. A play titled 'Yudh Nashian Virudh', written by SDM Dr Sanjeev Kumar and performed by students of Government Senior Secondary School, Phulpur Grewal, was also presented. Moved by the performance, Cheema led all attendees in an anti-drug pledge and personally contributed Rs 21,000 from his salary to the school. The programme concluded with the national anthem, performed by the students of Shivalik Public School. MSID:: 123333915 413 | Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
