Connect with us

News

GST rate reductions distorted tax structure, says Nirmala Sitharaman at HTLS

Published

on

The Goods and Services Tax rate structure has become distorted due to a string of rate reductions after the new indirect tax was introduced two years ago, Finance Minister Nirmala Sitharaman said at the Hindustan Times Leadership Summit on Saturday. Once the GST rate was decided and the biggest indirect tax reform launched in 2017, Sitharaman said the GST council went about reducing the tax rate of certain set of commodities.

“And I am not blaming anyone here. Equally all of us went about in every meeting of the GST council to reduce the taxation rate of certain set of commodities,” she said. This, she said, kept on happening.

“At the end of the day, the intentions were good. (but the tax rates) kept reducing, kept reducing. Now reduction per se is not bad,” she added.

“I am not saying that people did it thoughtlessly, but in the enthusiasm to reduce taxes, that framework which was originally agreed at stage one of GST was distorted,” Sitharaman said, explaining that lowering the tax rate impacted the input tax credit and transferred more taxes to the buyer.

Sitharaman’s assessment of the tax structure comes right ahead of the meeting of the Goods and Services Tax Council, the powerful body of state finance ministers led that she heads, later this month that is expected to discuss the first steps towards reviewing the tax rates.

Sitharaman declined to comment on the decisions that the council would take on the tax rates but underscored that a good streamlined GST regime for all assesses would be put in place.

Eventually, she said, the council will have to rationalise the tax structure and asked if it was really necessary to have a large number of slabs. “The original intent was to have three rates, merit, sin and the standard,” she said, underlining that there were “too many complications” in the tax rates.

Sitharaman listed complications in the tax returns that assesses have to file as the second area of focus, asserting that she had told got officials to simplify the forms that she acknowledged, “ended up asking for so much more information”

The minister counted the simplification of GST tax returns that were also distorted as another area that her team is working to fix.

source

News

Shraddha Murder Case: Police found spinal cord, 10 body parts recovered so far from the forest

Published

on

Photo by Hassan Rafhaan on Unsplash | (Representational Image)

The bones of Shraddha found by the Delhi Police in the forest of Mehrauli belong to the back part of the body. About 10 such body parts have been found so far, including the reed bone. Apart from this, some bones have also been recovered from the drain.

Delhi Police has received 10 parts of the body including the lower part of the spinal cord. The police have also found blood stains in the kitchen of the flat, whose samples have been sent for examination to find out whose the blood stains are.

Aftab had cleaned the fridge with chemicals so that when caught, he could spoil the forensic investigation. Delhi Police will soon call Shraddha’s father for a DNA sample. After which blood sample and bone sample will be sent to FLS, after which FSL will do a DNA test.

After the investigation so far, the police suspect that Shraddha’s body was dismembered in the bathroom after the murder. Along with this, the accused used to leave the water running from the shower so that the dead body could be easily cut and blood flowed. The FSL team along with Aftab was present during the investigation at his flat.

Source: Aajtak

Continue Reading

News

Fog will be seen in Delhi’s sky from tomorrow, cold will increase with drop in temperature!

Published

on

Representational Image | Image Source: Sumita Roy Dutta (Wikimedia)

After the passing of half of November, there is a rapid change in the weather. The country’s capital Delhi is feeling cold in the morning and evening, while the temperature is rising in the afternoon. However, a change in the weather can be seen in the coming days. According to IMD, the cold may increase in Delhi from tomorrow i.e. 17 November with a drop in temperature.

Delhi’s temperature condition

According to weather experts, in the next few days, icy winds will blow in the northwest direction, due to which Delhi’s temperature will drop and the cold will increase. Talking about the temperature, on November 17, the minimum temperature can be 12 degrees Celsius and the maximum temperature can be 27 degree Celsius. Two days ago i.e. on November 15, the minimum temperature was recorded at 15 degrees and the maximum temperature was 30 degrees. At the same time, there is a possibility of further decline in it for the next two days. On November 18, the minimum temperature can reach 11 °C and the maximum temperature can reach 26 °C.

Source Aajkal.in

Continue Reading

News

In Delhi, 37 lakh people apply for power subsidy

Published

on

Representational Image | Image Source: Snappygoat.com

After the 15-day-expansion by the Delhi government to select for the power subsidy scheme finished Tuesday, just three lakh individuals applied during the augmentation time frame. From September 14 till Tuesday night, 37,13,179 individuals applied to keep on benefiting from the subsidy scheme.

In spite of the fact that authorities are guaranteeing that a decent level of individuals has applied, the information shows a distinction of around 10 lakh customers when contrasted with a year ago. As per the information, around 46.8 lakh individuals profited from the advantage under the plan in 2021-22.

“This was the normal number of individuals who get the advantage, and the people who go under the 200 unit class probably applied. Likewise, the number varies as a few purchasers get the financed bill during winters and the number descends in summer as individuals use ACs, coolers, and fans,” said a senior authority from the power office.

He added that individuals who got sponsored bills under 400 units during winter should not have applied. “In any case, they can, in any case, apply before their next charging cycle and profit from the subsidy scheme,” said the official.

Continue Reading

Newsletters

Enter your email address to get latest updates

Advertisement

Trending

Copyright © 2018 - 2022 Delhi Wire.