Former finance minister P Chidambaram has said the Goods and Services Tax -- with its many rates -- is &quot;very, very imperfect&quot;.&nbsp;

And that since it has seven or more rates, it cannot be called &quot;one nation, one tax&quot;.&nbsp;

That has been one of the main criticisms of the GST -- that it has too many rates.&nbsp;

&quot;It is a mockery of the GST. When we have rates such as 0.25, 3, 5, 12, 18, 28 and 40, and possibly more because of the discretion vested with state governments, how can we call this a &#39;one nation, one tax&#39; regime,&quot; said Chidambaram.&nbsp;

The main aim of the GST had been to replace India&#39;s many indirect taxes with one single tax, turning the country into a single market.&nbsp;

A single tax would allow for the seamless and faster flow of goods from one state to another.&nbsp;

Chidambaram also said that both authorities and businesses were &quot;unprepared or under-prepared&quot; for GST and that it should have been put on a trial run.&nbsp;

He also added that experts feared GST might be inflationary in the short run, but that his party would welcome any measure taken to contain inflation. 
&nbsp;

'When we have rates such as 0.25, 3, 5, 12, 18, 28 and 40, and possibly more because of the discretion vested with state governments, how can we call this a 'one nation, one tax' regime,' said Chidambaram

Former finance minister P Chidambaram has said the Goods and Services Tax -- with its many rates -- is "very, very imperfect". And that since it has seven or more rates, it cannot be called "one nation, one tax". That has been one of the main criticisms of the GST -- that it has too many rates. "It is a mockery of the GST. When we have rates such as 0.25, 3, 5, 12, 18, 28 and 40, and possibly more because of the discretion vested with state governments, how can we call this a 'one nation, one tax' regime," said Chidambaram. The main aim of the GST had been to replace India's many indirect taxes with one single tax, turning the country into a single market. A single tax would allow for the seamless and faster flow of goods from one state to another. Chidambaram also said that both authorities and businesses were "unprepared or under-prepared" for GST and that it should have been put on a trial run. He also added that experts feared GST might be inflationary in the short run, but that his party would welcome any measure taken to contain inflation.

Chidambaram: GST, with its many rates, 'very, very imperfect'

India&#39;s top court, the Supreme Court, has adjourned to February 8 the hearing in the Aircel-Maxis case.

The top court expressed its displeasure at the fact that Malaysian-based Maxis company owner T Ananda Krishnan, an accused in the case, and and Ralph Marshall, an officer of the company, were not present for the hearing despite summons. It warned Aircel that if they did not appear before it, the court would put a stay on the merger of Aircel with Reliance Communications and tell the federal government to auction Aircel and utlilise that money to pay bank loans.

Maxis currently holds over 99 per cent stake in Aircel according to the CAG report. 
 
The Chief Justice of India Jagdish Singh Khehar said the court that any person could not take a loan from the bank and flee the country. &quot;We know that even the government will not support anyone who flees the law. If the owner of Maxis does not appear before court, the Supreme Court knows how to deal with the matter. If Aircel shares are transferred to Reliance, then where will the Rs 20,000 crores of loans due to banks go. Will that money disappear in thin air. The court said it would put a stay on the transfer of shares from Aircel to Reliance and tell the federal government to auction Aircel. In case any company would bid higher than Reliance, then the shares would be given to that company and the money utilised to pay the bank loans.&quot;

Malaysian tycoon Ananda Krishnan is currently a fugitive under Interpol and is resisting arrest in Malaysia.&nbsp;

The Supreme Court, in its last hearing on January 6, had barred Aircel from transferring the ownership of its 2G licenses, and had threatened to cancel the airwaves permits if Marshall and T Ananda Krishnan did not appear before it on February 3.

It had also restrained Maxis from earning any revenue from Aircel-Maxis&#39;s 65 million mobile phone connections, stating that it would not permit someone to benefit from the allotted spectrum unless he submitted to the process of the law.

A Delhi court had yesterday (February 2) ruled that former communications minister Dayanidhi Maran and his brother Kalanithi Maran would not undergo trial for corruption in the Aircel-Maxis deal.

They have been accused by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) of helping Malaysian communications service provider Maxis acquire telecom Aircel in exchange for a kickback of approximately Rs 700 crores. Former owner of Aircel, C Sivasankaran, had accused Dayanidhi Maran of withholding crucial permissions and clearances as a pressure tactic till he sold his company to Maxis in 2006.

Subramanian Swamy&#39;s case against Chidambaram 
 
The main plaintiff -- Bharatiya Janata Party (BJP) leader Subramanian Swamy, was to present his case of an alleged illegality committed by then finance minister P Chidambaram in providing Foreign Investment Promotion Board (FIPB) clearance to the Rs 3,500 crore deal in 2006. The BJP leader has also accused Maran of being a co-conspirator in the case.

Earlier in January, the top court had given an assurance that it would look into the question of alleged irregularity committed by Chidambaram.

Yesterday&#39;s ruling acquiting the Maran brothers was downplayed by Subramanian Swamy who said that the main case was the &quot;illegal&quot; FIPB clearance given to the firm which would be heard by the top court today.

&quot;They were charged with a petty crime of having arm-twisting Sivasankaran, on that they have been led free. But the main case of illegal FIPB clearance given by Chidambaram, which is my case coming up before the Supreme Court tomorrow, there Mr Maran is a co-conspirator. That case is the main case. Now let the CBI appeal against this order and tag it along with my case and then we will get some results,&quot; Swamy had told ANI earlier.

In 2014, the CBI had filed charges against the Maran brothers, Malaysian tycoon T Ananda Krishnan, his aide Ralph Marshall, Sun TV, UK&#39;s Astro All Asia Networks, &nbsp;Malaysia&#39;s South Asia Entertainment Holdings and Maxis Communications, and then additional secretary (Telecom) J S Sarma who died during the course of the probe.

They were chargesheeted for alleged offences punishable under section 120-B (criminal conspiracy) of Indian Penal Code (IPC) and under the Prevention of Corruption Act.

The special CBI court had also discharged the Maran brothers, Kalanithi&#39;s wife Kavery Kalanithi, South Asia FM Managing Director K Shanmugam and two companies -- SAFL and Sun Direct TV in two different cases due to lack of evidence.

Enforcement Directorate moves top court against special court&#39;s order

Inda&#39;s main economic law enforcement agency, the Enforcement Directorate (ED), also moved the top court against the special court&#39;s order which discharged the Maran brothers and other accused of corruption in the Aircel-Maxis case.&nbsp;

The ED also urged the Supreme Court not to&nbsp;release the properties attached in the case. A &nbsp;bench headed by Chief Justice of India Jagdish Singh Khehar and comprising Justice NV Ramanna and DY Chandrachud had earlier said they would hear the matter at 2 pm today. 
 
(WION with inputs from ANI)

"If the owner of Maxis does not appear before court, will ask federal government to auction Aircel," the top court warned

India's top court, the Supreme Court, has adjourned to February 8 the hearing in the Aircel-Maxis case. The top court expressed its displeasure at the fact that Malaysian-based Maxis company owner T Ananda Krishnan, an accused in the case, and and Ralph Marshall, an officer of the company, were not present for the hearing despite summons. It warned Aircel that if they did not appear before it, the court would put a stay on the merger of Aircel with Reliance Communications and tell the federal government to auction Aircel and utlilise that money to pay bank loans. Maxis currently holds over 99 per cent stake in Aircel according to the CAG report. The Chief Justice of India Jagdish Singh Khehar said the court that any person could not take a loan from the bank and flee the country. "We know that even the government will not support anyone who flees the law. If the owner of Maxis does not appear before court, the Supreme Court knows how to deal with the matter. If Aircel shares are transferred to Reliance, then where will the Rs 20,000 crores of loans due to banks go. Will that money disappear in thin air. The court said it would put a stay on the transfer of shares from Aircel to Reliance and tell the federal government to auction Aircel. In case any company would bid higher than Reliance, then the shares would be given to that company and the money utilised to pay the bank loans." Malaysian tycoon Ananda Krishnan is currently a fugitive under Interpol and is resisting arrest in Malaysia. The Supreme Court, in its last hearing on January 6, had barred Aircel from transferring the ownership of its 2G licenses, and had threatened to cancel the airwaves permits if Marshall and T Ananda Krishnan did not appear before it on February 3. It had also restrained Maxis from earning any revenue from Aircel-Maxis's 65 million mobile phone connections, stating that it would not permit someone to benefit from the allotted spectrum unless he submitted to the process of the law. A Delhi court had yesterday (February 2) ruled that former communications minister Dayanidhi Maran and his brother Kalanithi Maran would not undergo trial for corruption in the Aircel-Maxis deal. They have been accused by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) of helping Malaysian communications service provider Maxis acquire telecom Aircel in exchange for a kickback of approximately Rs 700 crores. Former owner of Aircel, C Sivasankaran, had accused Dayanidhi Maran of withholding crucial permissions and clearances as a pressure tactic till he sold his company to Maxis in 2006. Subramanian Swamy's case against Chidambaram The main plaintiff -- Bharatiya Janata Party (BJP) leader Subramanian Swamy, was to present his case of an alleged illegality committed by then finance minister P Chidambaram in providing Foreign Investment Promotion Board (FIPB) clearance to the Rs 3,500 crore deal in 2006. The BJP leader has also accused Maran of being a co-conspirator in the case. Earlier in January, the top court had given an assurance that it would look into the question of alleged irregularity committed by Chidambaram. Yesterday's ruling acquiting the Maran brothers was downplayed by Subramanian Swamy who said that the main case was the "illegal" FIPB clearance given to the firm which would be heard by the top court today. "They were charged with a petty crime of having arm-twisting Sivasankaran, on that they have been led free. But the main case of illegal FIPB clearance given by Chidambaram, which is my case coming up before the Supreme Court tomorrow, there Mr Maran is a co-conspirator. That case is the main case. Now let the CBI appeal against this order and tag it along with my case and then we will get some results," Swamy had told ANI earlier. In 2014, the CBI had filed charges against the Maran brothers, Malaysian tycoon T Ananda Krishnan, his aide Ralph Marshall, Sun TV, UK's Astro All Asia Networks, Malaysia's South Asia Entertainment Holdings and Maxis Communications, and then additional secretary (Telecom) J S Sarma who died during the course of the probe. They were chargesheeted for alleged offences punishable under section 120-B (criminal conspiracy) of Indian Penal Code (IPC) and under the Prevention of Corruption Act. The special CBI court had also discharged the Maran brothers, Kalanithi's wife Kavery Kalanithi, South Asia FM Managing Director K Shanmugam and two companies -- SAFL and Sun Direct TV in two different cases due to lack of evidence. Enforcement Directorate moves top court against special court's order Inda's main economic law enforcement agency, the Enforcement Directorate (ED), also moved the top court against the special court's order which discharged the Maran brothers and other accused of corruption in the Aircel-Maxis case. The ED also urged the Supreme Court not to release the properties attached in the case. A bench headed by Chief Justice of India Jagdish Singh Khehar and comprising Justice NV Ramanna and DY Chandrachud had earlier said they would hear the matter at 2 pm today. (WION with inputs from ANI)

India's top court adjourns hearing in Aircel-Maxis case, continues stay on merger with Reliance

In a bid to corner the Opposition&#39;s Congress ahead of the Budget session, the ruling BJP launched a fresh attack on the party, accusing it of pulling strings to secure loans for liquor baron Vijay Mallya&#39;s now-defunct Kingfisher Airlines.

The BJP alleged the &quot;corrupt hands&quot; which helped Mallya get bank loans belonged to the then Prime Minister Manmohan Singh and Finance Minister P Chidambaram. The party quoted from purported letters written by Mallya to Manmohan Singh in which he sought his intervention and subsequent to which Kingfisher Airlines received loans.

BJP spokesperson Sambit Patra asked Congress president Sonia Gandhi and her deputy Rahul Gandhi to explain at whose behest the defaulting company got loans.

Reacting to the allegations, former PM Manmohan Singh said that all Prime Ministers and others in the government receive letters from various captains of industry and that what was being talked about was just an ordinary piece of letter &quot;which any government in my position would have dealt with.&quot;

&ldquo;All PMs and other ministers in any govt receive representatives from various captains of industry which is passed on to appropriate authority. What I did was with full satisfaction of mine that we were not doing anything against law of the land. It was a normal routine transaction and therefore the letter that&rsquo;s being talked about is nothing but an ordinary piece of letter. It&rsquo;s an ordinary piece of letter which any Government in my position would have dealt with,&rdquo; he was quoted as saying by ANI.

Earlier in a press conference, the BJP dragged the Congress leadership into the row, alleging that the then principal secretary to the PM, Pulok Chatterjee, would &quot;snatch files&quot; from Manmohan Singh to take it to 10 Janpath, residence of Sonia Gandhi.&nbsp;

&quot;The hands which pulled the strings to ensure that Mallya received loans are visible now. They belonged to Chidambaram and Singh.

&quot;Did the hands of 10 Janpath also pull the strings? Sonia and Rahul Gandhi should come out in public to say at whose behest the loans were sanctioned to Kingfisher Airline,&quot; he said. &quot;It was after one such letter Mallya had written to Singh on November 14, 2011 that the Prime Minister told the media that &#39;we have to find ways to get Kingfisher out of trouble&#39;,&quot; Patra said. In another letter, he sought Singh&#39;s intervention to get funds from banks released immediately, the BJP leader claimed.

In one of the letters, Mallya said he was very &quot;relieved&quot; and &quot;pleased&quot;, apparently referring to developments in the interim, according to Patra. A top official in the Prime Minister&#39;s Office had spoken to ministries concerned following his letter to Singh and Mallya had mentioned it, he said.&nbsp;

Patra cited another letter the absconding liquor baron allegedly wrote to Chidambaram in March 2013, seeking his intervention to get a No Objection Certificate from the State Bank of India -- which headed the consortium of banks which had given unrecovered loans to the airlines, and its subsidiaries -- while his liquor company was in talks with Diageo for a deal.&nbsp;

Asked about Mallya&#39;s defence, Patra said the businessman said they would not listen to a defaulter and he should come back if he wanted to be heard.

<iframe allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/aZQpHi_lMhY" width="560"></iframe>

(This report first appeared in DNA)

 
&nbsp;

The BJP alleged that in 2011, former PM Manmohan Singh told the press 'we have to find ways to get Kingfisher out of trouble'.

In a bid to corner the Opposition's Congress ahead of the Budget session, the ruling BJP launched a fresh attack on the party, accusing it of pulling strings to secure loans for liquor baron Vijay Mallya's now-defunct Kingfisher Airlines. The BJP alleged the "corrupt hands" which helped Mallya get bank loans belonged to the then Prime Minister Manmohan Singh and Finance Minister P Chidambaram. The party quoted from purported letters written by Mallya to Manmohan Singh in which he sought his intervention and subsequent to which Kingfisher Airlines received loans. BJP spokesperson Sambit Patra asked Congress president Sonia Gandhi and her deputy Rahul Gandhi to explain at whose behest the defaulting company got loans. Reacting to the allegations, former PM Manmohan Singh said that all Prime Ministers and others in the government receive letters from various captains of industry and that what was being talked about was just an ordinary piece of letter "which any government in my position would have dealt with." “All PMs and other ministers in any govt receive representatives from various captains of industry which is passed on to appropriate authority. What I did was with full satisfaction of mine that we were not doing anything against law of the land. It was a normal routine transaction and therefore the letter that’s being talked about is nothing but an ordinary piece of letter. It’s an ordinary piece of letter which any Government in my position would have dealt with,” he was quoted as saying by ANI. Earlier in a press conference, the BJP dragged the Congress leadership into the row, alleging that the then principal secretary to the PM, Pulok Chatterjee, would "snatch files" from Manmohan Singh to take it to 10 Janpath, residence of Sonia Gandhi. "The hands which pulled the strings to ensure that Mallya received loans are visible now. They belonged to Chidambaram and Singh. "Did the hands of 10 Janpath also pull the strings? Sonia and Rahul Gandhi should come out in public to say at whose behest the loans were sanctioned to Kingfisher Airline," he said. "It was after one such letter Mallya had written to Singh on November 14, 2011 that the Prime Minister told the media that 'we have to find ways to get Kingfisher out of trouble'," Patra said. In another letter, he sought Singh's intervention to get funds from banks released immediately, the BJP leader claimed. In one of the letters, Mallya said he was very "relieved" and "pleased", apparently referring to developments in the interim, according to Patra. A top official in the Prime Minister's Office had spoken to ministries concerned following his letter to Singh and Mallya had mentioned it, he said. Patra cited another letter the absconding liquor baron allegedly wrote to Chidambaram in March 2013, seeking his intervention to get a No Objection Certificate from the State Bank of India -- which headed the consortium of banks which had given unrecovered loans to the airlines, and its subsidiaries -- while his liquor company was in talks with Diageo for a deal. Asked about Mallya's defence, Patra said the businessman said they would not listen to a defaulter and he should come back if he wanted to be heard. (This report first appeared in DNA)

Routine for govt to receive requests for help: Manmohan Singh on Vijay Mallya 'bailout'

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