Congress leader and former Union minister Shashi Tharoor attacked the BJP government on GST by saying that the ruling dispensation &#39;&#39;took our concept of a sleek horse and turned it into an ungainly camel&#39;&#39;.

&#39;&#39;I stand by GST as a good idea needed to create &quot;one nation one tax&quot;. But BJP Govt took our concept of a sleek horse &amp;turned it into an ungainly camel. In the process, many SMEs have closed &amp;thousands of jobs lost. Instead of #MakeInIndia we have #UnmadeInIndia.&#39;&#39; he tweeted.

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I stand by GST as a good idea needed to create &quot;one nation one tax&quot;. But BJP Govt took our concept of a sleek horse &amp;turned it into an ungainly camel. In the process many SMEs have closed &amp;thousands of jobs lost. Instead of <a href="https://twitter.com/hashtag/MakeInIndia?src=hash&amp;ref_src=twsrc%5Etfw">#MakeInIndia</a> we have <a href="https://twitter.com/hashtag/UnmadeInIndia?src=hash&amp;ref_src=twsrc%5Etfw">#UnmadeInIndia</a>. <a href="https://t.co/d4RqIlttPk">https://t.co/d4RqIlttPk</a>
&mdash; Shashi Tharoor (@ShashiTharoor) <a href="https://twitter.com/ShashiTharoor/status/967646896205586432?ref_src=twsrc%5Etfw">February 25, 2018</a></blockquote>
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Tharoor&#39;s response comes following a tweet by Mohandas Pai, who tweeted &#39;&#39;What a joke. Why is @ShashiTharoor favouring people who evade taxes and deal mainly in cash? Instead of standing up for taxpayers supports cash-based tax evaders. Shocking.&#39;&#39;&nbsp;

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What a joke. Why is <a href="https://twitter.com/ShashiTharoor?ref_src=twsrc%5Etfw">@ShashiTharoor</a> favouring people who evade taxes and deal mainly in cash? Instead of standing up for tax payers supports cash based tax evaders. Shocking <a href="https://t.co/vwukCuAw6G">https://t.co/vwukCuAw6G</a>
&mdash; Mohandas Pai (@TVMohandasPai) <a href="https://twitter.com/TVMohandasPai/status/967454750256988160?ref_src=twsrc%5Etfw">February 24, 2018</a></blockquote>
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Speaking to reporters on Saturday, Congress MP Shashi Tharoor said the &quot;botched&quot; implementation of the Goods and Services Tax has created a &quot;Frankenstein monster&quot; in the bureaucracy where every small firm has to fill in several forms. &quot;We had one nation, one tax model. We did not have any idea that BJP will come with six different rates,&quot; he told reporters here.

Noting that the entrepreneurial spirit in the country was &quot;severely eroded&quot; due to GST and demonetisation, he said, instead of facilitating Start-Up India, the report from Tiruppur shows that central government policies &quot;undermine&quot; the spirit of entrepreneurship.

&quot;This is a great disappointment. We are not judging the government by our yardsticks. We are judging the government by what they claim and what they are trying to do,&quot; the MP said. &quot;They have failed in terms of their own goals. Their slogans and empty speeches have never looked more hollow when you look at this report from Tiruppur&quot;, he said.

Modi-led NDA government has often been criticised after it dealt a twin blow to the Indian economy by announcing invalidation of high-value currency notes and hurried implementation of GST. The moves resulted in thousands job loss, especially in SMEs and put the&nbsp;brakes on&nbsp;GDP growth rates.&nbsp;

Tharoor's response comes following a tweet by Mohandas Pai

Congress leader and former Union minister Shashi Tharoor attacked the BJP government on GST by saying that the ruling dispensation ''took our concept of a sleek horse and turned it into an ungainly camel''. ''I stand by GST as a good idea needed to create "one nation one tax". But BJP Govt took our concept of a sleek horse &turned it into an ungainly camel. In the process, many SMEs have closed &thousands of jobs lost. Instead of #MakeInIndia we have #UnmadeInIndia.'' he tweeted. I stand by GST as a good idea needed to create "one nation one tax". But BJP Govt took our concept of a sleek horse &turned it into an ungainly camel. In the process many SMEs have closed &thousands of jobs lost. Instead of #MakeInIndia we have #UnmadeInIndia. https://t.co/d4RqIlttPk — Shashi Tharoor (@ShashiTharoor) February 25, 2018 × Tharoor's response comes following a tweet by Mohandas Pai, who tweeted ''What a joke. Why is @ShashiTharoor favouring people who evade taxes and deal mainly in cash? Instead of standing up for taxpayers supports cash-based tax evaders. Shocking.'' What a joke. Why is @ShashiTharoor favouring people who evade taxes and deal mainly in cash? Instead of standing up for tax payers supports cash based tax evaders. Shocking https://t.co/vwukCuAw6G — Mohandas Pai (@TVMohandasPai) February 24, 2018 × Speaking to reporters on Saturday, Congress MP Shashi Tharoor said the "botched" implementation of the Goods and Services Tax has created a "Frankenstein monster" in the bureaucracy where every small firm has to fill in several forms. "We had one nation, one tax model. We did not have any idea that BJP will come with six different rates," he told reporters here. Noting that the entrepreneurial spirit in the country was "severely eroded" due to GST and demonetisation, he said, instead of facilitating Start-Up India, the report from Tiruppur shows that central government policies "undermine" the spirit of entrepreneurship. "This is a great disappointment. We are not judging the government by our yardsticks. We are judging the government by what they claim and what they are trying to do," the MP said. "They have failed in terms of their own goals. Their slogans and empty speeches have never looked more hollow when you look at this report from Tiruppur", he said. Modi-led NDA government has often been criticised after it dealt a twin blow to the Indian economy by announcing invalidation of high-value currency notes and hurried implementation of GST. The moves resulted in thousands job loss, especially in SMEs and put the brakes on GDP growth rates.

Govt took our concept of sleek horse and turned it into ungainly camel: Shashi Tharoor on GST

America&#39;s bilateral trade deficit with four major countries, including India, narrowed in the first three quarters of 2017 as compared to the previous year, the US administration said in a report according to which India&#39;s growth has slowed due to the effects of its structural economic reforms.

The Economic Report of the President (ERP) that shows a path for continued growth and paints a rosy picture for the American economy, alleges that countries, including India and Brazil - both GATT signatories since 1948 - have been far less open, preserving high bound rates and avoiding universal binding coverage.

&quot;Growth in India has slowed due to the effects of its structural economic reforms. India&#39;s demonetisation of large-denomination notes in November 2016 invalidated 86 per cent of the cash in circulation in an economy where more than 90 per cent of transactions were cash-based,&quot; it said.

&quot;The introduction in July 2017 of a single, country-wide sales tax replaced a vast number of different state and local tax rates, and has created short-term uncertainty,&quot; the report noted. 
The report expressed concern over increasing share of non-performing loans (NPLs) in India&#39;s banking sector, which it said poses further risks.

According to country-sourced statistics provided to the IMF, NPLs as a share of all loans in India stood at 9.7 per cent in the third quarter of 2017, compared with 1.7 per cent in China (IMF 2017).

&quot;NPLs have increased at an alarming rate in recent years, with the current NPL slippage ratio in India almost double that in FY 2014/15 (IMF 2017b). Public sector banks, with the State Bank of India as a leading example, account for the lion&#39;s share of NPLs in the banking sector,&quot; it said.

The Reserve Bank of India predicts that gross NPLs as a proportion of all loans will increase to 10.8 per cent in the first quarter of 2018, and to 11. 1 per cent by September 2018.

&quot;However, the stress of India&#39;s banking sector may be ameliorated in the future, given that the government recently announced a $ 32.4 billion package to recapitalise publicly- owned banks,&quot; the report said.

Noting that India has been the most frequent user of anti-dumping measures, the White House said delays in the approval of agricultural products derived from biotechnology in China, the EU, India, and other countries result in increased market uncertainty among technology providers, farmers, and traders of US corn, soy, cotton, and alfalfa&mdash;leading to reduced exports of these products.

The Trump administration also blamed India for not implementing the WTO ruling on poultry.

&quot;India has failed to revise its requirements for poultry in a manner that would allow for US imports, and the case continues to be litigated in the WTO,&quot; it said.

&quot;Since 2007, India has restricted various US agricultural products, including poultry meat, eggs, and live pigs, supposedly to prevent the entry of avian influenza into India,&quot; the report said.

The US has maintained that no scientific basis supports the ban.

In March 2012, the US initiated a WTO dispute by requesting consultations with India.

In emerging and developing economies, such as Brazil, China, India, Russia, and certain other countries in Africa, Asia, and Latin America, strengthening the external environment continues to help output growth recover.

&quot;There are, however, certain risks to future growth. As monetary policy normalises with higher interest rates in advanced economies, emerging and developing economies could face an outflow of capital,&quot; it said.

&quot;Financial stability risks are also increasing due to the increase in nonperforming loans on the private sector balance sheets of two of the biggest and fastest-growing emerging market economies - China and India.

Credit growth in China has arguably also become excessive, as it continues to shift from growth led by exports and investment to an economy led by internal demand,&quot; it said.&nbsp;

'Growth in India has slowed due to the effects of its structural economic reforms. India's demonetisation of large-denomination notes in November 2016 invalidated 86 per cent of the cash in circulation in an economy where more than 90 per cent of transactions were cash-based, Economic Report said

America's bilateral trade deficit with four major countries, including India, narrowed in the first three quarters of 2017 as compared to the previous year, the US administration said in a report according to which India's growth has slowed due to the effects of its structural economic reforms. The Economic Report of the President (ERP) that shows a path for continued growth and paints a rosy picture for the American economy, alleges that countries, including India and Brazil - both GATT signatories since 1948 - have been far less open, preserving high bound rates and avoiding universal binding coverage. "Growth in India has slowed due to the effects of its structural economic reforms. India's demonetisation of large-denomination notes in November 2016 invalidated 86 per cent of the cash in circulation in an economy where more than 90 per cent of transactions were cash-based," it said. "The introduction in July 2017 of a single, country-wide sales tax replaced a vast number of different state and local tax rates, and has created short-term uncertainty," the report noted. The report expressed concern over increasing share of non-performing loans (NPLs) in India's banking sector, which it said poses further risks. According to country-sourced statistics provided to the IMF, NPLs as a share of all loans in India stood at 9.7 per cent in the third quarter of 2017, compared with 1.7 per cent in China (IMF 2017). "NPLs have increased at an alarming rate in recent years, with the current NPL slippage ratio in India almost double that in FY 2014/15 (IMF 2017b). Public sector banks, with the State Bank of India as a leading example, account for the lion's share of NPLs in the banking sector," it said. The Reserve Bank of India predicts that gross NPLs as a proportion of all loans will increase to 10.8 per cent in the first quarter of 2018, and to 11. 1 per cent by September 2018. "However, the stress of India's banking sector may be ameliorated in the future, given that the government recently announced a $ 32.4 billion package to recapitalise publicly- owned banks," the report said. Noting that India has been the most frequent user of anti-dumping measures, the White House said delays in the approval of agricultural products derived from biotechnology in China, the EU, India, and other countries result in increased market uncertainty among technology providers, farmers, and traders of US corn, soy, cotton, and alfalfa—leading to reduced exports of these products. The Trump administration also blamed India for not implementing the WTO ruling on poultry. "India has failed to revise its requirements for poultry in a manner that would allow for US imports, and the case continues to be litigated in the WTO," it said. "Since 2007, India has restricted various US agricultural products, including poultry meat, eggs, and live pigs, supposedly to prevent the entry of avian influenza into India," the report said. The US has maintained that no scientific basis supports the ban. In March 2012, the US initiated a WTO dispute by requesting consultations with India. In emerging and developing economies, such as Brazil, China, India, Russia, and certain other countries in Africa, Asia, and Latin America, strengthening the external environment continues to help output growth recover. "There are, however, certain risks to future growth. As monetary policy normalises with higher interest rates in advanced economies, emerging and developing economies could face an outflow of capital," it said. "Financial stability risks are also increasing due to the increase in nonperforming loans on the private sector balance sheets of two of the biggest and fastest-growing emerging market economies - China and India. Credit growth in China has arguably also become excessive, as it continues to shift from growth led by exports and investment to an economy led by internal demand," it said.

India's growth slowed due to demonetisation, GST: USA

The restaurant industry in Mumbai and Bengaluru feels the impact of Goods and Services Tax (GST) has been largely positive, but lack of clarity on regulations remains a major hurdle, according to a survey.

More than 70 per cent of the restaurant owners in the two cities believed GST is a positive decision for the industry, while 68 per cent businesses felt it will ease compliance since it is backed by technology, said the survey by Grant Thornton India, a leading assurance, tax and advisory firm.

High rentals and difficulty in retaining experienced staff are key challenges faced by the restaurant industry in Mumbai and Bengaluru, said the survey titled &#39;Bon Appetit ? Emerging trends, opportunities and challenges in Indian restaurant industry&#39;.

Lack of clarity on regulations has also been mentioned as an area of concern, it added.

The Grant Thornton&#39;s Bon Appetit survey was based on findings from 35 (Mumbai) and 29 (Bengaluru) owners and Key Managerial Personnel (KMPs).

Like GST, demonetisation has also affected the restaurant industry, the survey revealed.

The impact of demonetisation appeared to have been more in Bengaluru, where only one-third of the respondents said there is no impact, compared to Mumbai, where it was 60 per cent, it said.

This is also as cash is still a predominant mode of payment and accounts for 20-30 per cent of receipts in a restaurant, it said.

M-wallets have just started picking up and account for 4-5 per cent of the collections, it added.

&quot;The Indian restaurant industry has evolved and grown significantly over the past two decades and continues to grow at a steady pace.

&quot;This can be attributed to the changing demographics, increase in disposable incomes, urbanisation and growth of organised retail. The market is highly segmented on account of varying income levels and age bracket of the population,&quot; said Grant Thornton India LLP Partner Dhanraj Bhagat.

The survey revealed that quality of food emerged as the key driver for growth of restaurants, followed by location and pricing.

For Mumbai respondents, having organic food is more important than concerns related to pricing and cuisine preference, while affordability was highlighted as the key emerging trend in consumer preferences in Bengaluru.

Meanwhile, the respondents said pan-India or regional expansion was the primary strategy for growth.

In Mumbai, respondents said global expansion and cuisine addition are two other crucial strategies for increasing footprint.

When it comes to funding these expansions, Mumbai respondents preferred private equity firms, whereas Bengaluru saw bank loans as the primary source, the survey added.

More than 70 per cent of restaurant owners in Mumbai and Bengaluru believe GST is a positive decision for the industry

The restaurant industry in Mumbai and Bengaluru feels the impact of Goods and Services Tax (GST) has been largely positive, but lack of clarity on regulations remains a major hurdle, according to a survey. More than 70 per cent of the restaurant owners in the two cities believed GST is a positive decision for the industry, while 68 per cent businesses felt it will ease compliance since it is backed by technology, said the survey by Grant Thornton India, a leading assurance, tax and advisory firm. High rentals and difficulty in retaining experienced staff are key challenges faced by the restaurant industry in Mumbai and Bengaluru, said the survey titled 'Bon Appetit ? Emerging trends, opportunities and challenges in Indian restaurant industry'. Lack of clarity on regulations has also been mentioned as an area of concern, it added. The Grant Thornton's Bon Appetit survey was based on findings from 35 (Mumbai) and 29 (Bengaluru) owners and Key Managerial Personnel (KMPs). Like GST, demonetisation has also affected the restaurant industry, the survey revealed. The impact of demonetisation appeared to have been more in Bengaluru, where only one-third of the respondents said there is no impact, compared to Mumbai, where it was 60 per cent, it said. This is also as cash is still a predominant mode of payment and accounts for 20-30 per cent of receipts in a restaurant, it said. M-wallets have just started picking up and account for 4-5 per cent of the collections, it added. "The Indian restaurant industry has evolved and grown significantly over the past two decades and continues to grow at a steady pace. "This can be attributed to the changing demographics, increase in disposable incomes, urbanisation and growth of organised retail. The market is highly segmented on account of varying income levels and age bracket of the population," said Grant Thornton India LLP Partner Dhanraj Bhagat. The survey revealed that quality of food emerged as the key driver for growth of restaurants, followed by location and pricing. For Mumbai respondents, having organic food is more important than concerns related to pricing and cuisine preference, while affordability was highlighted as the key emerging trend in consumer preferences in Bengaluru. Meanwhile, the respondents said pan-India or regional expansion was the primary strategy for growth. In Mumbai, respondents said global expansion and cuisine addition are two other crucial strategies for increasing footprint. When it comes to funding these expansions, Mumbai respondents preferred private equity firms, whereas Bengaluru saw bank loans as the primary source, the survey added.

Impact of GST on restaurant industry positive but lack of clarity a hurdle: Survey

Revenues from the Goods and Services Tax could cross Rs 1 lakh crore a month towards the end of next fiscal once anti-evasion measures like matching of tax data and e-way bill are put in place, finance ministry officials said on Tuesday.

Once the GST return filing process stabilises completely, the Directorate General of Analytics and Risk Management (DGARM) will be put to action for 360 degree profiling and matching the database of people filing GST with Income Tax returns filed, they said.

The government has budgeted about Rs 7.44 lakh crore from GST in the 2018-19 fiscal beginning April 1. The estimated collection for 8 months (July-February) of the current fiscal is Rs 4.44 lakh crore. The March collection will take place in April, the start of new financial year, 2018-19.

Officials said the revenue estimates for next fiscal are conservative and could go up depending on enforcement actions taken by the government.

Collections under the GST, implemented from July 1 last year, were over Rs 95,000 crore for the first month, while in August the figure was just over Rs&nbsp; 91,000 crore. In September, it was over Rs 92,150 crore, October (Rs 83,000 crore), November (Rs 80,808 crore) and December (Rs 86,703 crore).

As of December 2017, 98 lakh businesses were registered under the GST regime.

&quot;We will soon start matching of the turnover shown in GST returns with the income returns filed with the I-T department. It could begin by second half of next financial year,&quot; a senior finance ministry official said.

&quot;Once these measures are put in place, there is no reason why GST revenues would not average Rs 1 lakh crore every month,&quot; he added. 
Another official said that the focus of the department will also be on plugging the gaps in the gold and jewellery industry.

&quot;Gold imports have been rising every month despite a 10 per cent customs duty. But where is this imported gold channelled to? With GST in place, the revenue authorities now have the power to seek details about end supplies,&quot; the official said.

Import of gold attracts a 10 per cent basic customs duty. On top of that, a 12.5 per cent countervailing duty (CVD) was levied prior to GST. Since GST subsumed CVD, the GST rate on gold at 3 per cent has to be paid at the time of imports in the form of Integrated GST with effect from July 1.

India is the world&#39;s second biggest gold consumer after China. The import mainly takes care of the demand of the jewellery industry. 
The official said that once the system stabilises, the intelligence agencies within the revenue department could better monitor end usage of the imported gold.

&quot;DGARM would be utilised to provide intelligence inputs and do big data analytics for taxmen for better policy formulation and taking action against tax evaders,&quot; he said.

Set up under the Central Board of Excise and Customs (CBEC), DGARM will use internal and external sources for detailed data mining and risk management.

As per data on GST returns filed by companies opting for composition scheme, as many as 5 lakh firms reported such a turnover which works out to annual sales of Rs 5 lakh only.

Out of 10 lakh businesses that opted for the composition scheme during the July-September period, about 7 lakh have filed GST returns for the quarter. 
Businesses with a turnover of up to Rs 20 lakh are exempt from the GST regime.

The official further said that currently, there is little tracking of goods movement from one state to another and the e-way bill would act as a tool to check tax evasion as then movement of stock and its end use would be monitored.

E-way or electronic way bill is for the movement of goods and can be generated on the GSTN (common portal). Movement of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.

GST collections added up to Rs 80,808 crore in November and Rs Rs 86,703 crore in December

Revenues from the Goods and Services Tax could cross Rs 1 lakh crore a month towards the end of next fiscal once anti-evasion measures like matching of tax data and e-way bill are put in place, finance ministry officials said on Tuesday. Once the GST return filing process stabilises completely, the Directorate General of Analytics and Risk Management (DGARM) will be put to action for 360 degree profiling and matching the database of people filing GST with Income Tax returns filed, they said. The government has budgeted about Rs 7.44 lakh crore from GST in the 2018-19 fiscal beginning April 1. The estimated collection for 8 months (July-February) of the current fiscal is Rs 4.44 lakh crore. The March collection will take place in April, the start of new financial year, 2018-19. Officials said the revenue estimates for next fiscal are conservative and could go up depending on enforcement actions taken by the government. Collections under the GST, implemented from July 1 last year, were over Rs 95,000 crore for the first month, while in August the figure was just over Rs 91,000 crore. In September, it was over Rs 92,150 crore, October (Rs 83,000 crore), November (Rs 80,808 crore) and December (Rs 86,703 crore). As of December 2017, 98 lakh businesses were registered under the GST regime. "We will soon start matching of the turnover shown in GST returns with the income returns filed with the I-T department. It could begin by second half of next financial year," a senior finance ministry official said. "Once these measures are put in place, there is no reason why GST revenues would not average Rs 1 lakh crore every month," he added. Another official said that the focus of the department will also be on plugging the gaps in the gold and jewellery industry. "Gold imports have been rising every month despite a 10 per cent customs duty. But where is this imported gold channelled to? With GST in place, the revenue authorities now have the power to seek details about end supplies," the official said. Import of gold attracts a 10 per cent basic customs duty. On top of that, a 12.5 per cent countervailing duty (CVD) was levied prior to GST. Since GST subsumed CVD, the GST rate on gold at 3 per cent has to be paid at the time of imports in the form of Integrated GST with effect from July 1. India is the world's second biggest gold consumer after China. The import mainly takes care of the demand of the jewellery industry. The official said that once the system stabilises, the intelligence agencies within the revenue department could better monitor end usage of the imported gold. "DGARM would be utilised to provide intelligence inputs and do big data analytics for taxmen for better policy formulation and taking action against tax evaders," he said. Set up under the Central Board of Excise and Customs (CBEC), DGARM will use internal and external sources for detailed data mining and risk management. As per data on GST returns filed by companies opting for composition scheme, as many as 5 lakh firms reported such a turnover which works out to annual sales of Rs 5 lakh only. Out of 10 lakh businesses that opted for the composition scheme during the July-September period, about 7 lakh have filed GST returns for the quarter. Businesses with a turnover of up to Rs 20 lakh are exempt from the GST regime. The official further said that currently, there is little tracking of goods movement from one state to another and the e-way bill would act as a tool to check tax evasion as then movement of stock and its end use would be monitored. E-way or electronic way bill is for the movement of goods and can be generated on the GSTN (common portal). Movement of goods of more than Rs 50,000 in value cannot be made by a registered person without an e-way bill.

Revenue from GST will top Rs 1 lakh crore a month after anti-evasion measures: Finance Ministry officials

Halting two months of decline, the GST collections gathered momentum in December, rising to Rs 86,703 crore.

&quot;Total revenue collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs 86,703 crore till January 24, 2018,&quot; the finance ministry said in a statement.

Total collections under the Goods and Services Tax (GST) in November had slipped for the second straight month to Rs 80,808 crore, from over Rs 83,000 crore in October. In September, it was over Rs 92,150 crore.

The collections had declined in November after the GST Council cut rates on more than 200 items.

According to PwC leader Pratik Jain, increase in revenue collection is on the expected lines and it means that gradually GST is stabilising and transition issues are waning.

This, coupled with a few anti-evasion measures being taken by the government now, is likely to result in further increase of revenues in January to March 2018 quarter, he said.

The rollout of e-way bill on transport of goods having value exceeding Rs 50,000 from one state to another on PAN India basis from February 1, 2018 will further curb tax evasion and revenue will rise in upcoming months, Vishal Raheja, DGM, Taxmann, said.

The ministry further said that 1 crore taxpayers have been registered under GST till January 24, of which 17.11 lakh are composition dealers who are required to file returns every quarter.

As many as 56.30 lakh GSTR 3B returns have been filed for December, it said.

For the composition dealers, in the July-September quarter, the last date of filing GSTR 4 Returns was December 24, it said. A total of 8.10 lakh returns were filed by them amounting to Rs 335.86 crore.

For the October-December quarter, the last date for filing GSTR 4 returns was January 18, and a total of 9.25 lakh returns were filed by composition dealers paying a sum of Rs 421.35 crore, it added.

The collections had declined in November after the GST Council cut rates on more than 200 items

Halting two months of decline, the GST collections gathered momentum in December, rising to Rs 86,703 crore. "Total revenue collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs 86,703 crore till January 24, 2018," the finance ministry said in a statement. Total collections under the Goods and Services Tax (GST) in November had slipped for the second straight month to Rs 80,808 crore, from over Rs 83,000 crore in October. In September, it was over Rs 92,150 crore. The collections had declined in November after the GST Council cut rates on more than 200 items. According to PwC leader Pratik Jain, increase in revenue collection is on the expected lines and it means that gradually GST is stabilising and transition issues are waning. This, coupled with a few anti-evasion measures being taken by the government now, is likely to result in further increase of revenues in January to March 2018 quarter, he said. The rollout of e-way bill on transport of goods having value exceeding Rs 50,000 from one state to another on PAN India basis from February 1, 2018 will further curb tax evasion and revenue will rise in upcoming months, Vishal Raheja, DGM, Taxmann, said. The ministry further said that 1 crore taxpayers have been registered under GST till January 24, of which 17.11 lakh are composition dealers who are required to file returns every quarter. As many as 56.30 lakh GSTR 3B returns have been filed for December, it said. For the composition dealers, in the July-September quarter, the last date of filing GSTR 4 Returns was December 24, it said. A total of 8.10 lakh returns were filed by them amounting to Rs 335.86 crore. For the October-December quarter, the last date for filing GSTR 4 returns was January 18, and a total of 9.25 lakh returns were filed by composition dealers paying a sum of Rs 421.35 crore, it added.

Budget 2018: GST collections reverse trend; rise to Rs 86,703 cr in December

Prime Minister Narendra Modi on Friday said that his government&#39;s only <a href="http://www.wionews.com/india-news/arun-jaitley-chairs-pre-budget-meeting-in-delhi-29924">agenda for the Budget</a> is development.

&quot;My government has only one agenda for Budget - and that is development. And that&#39;s what you will see,&quot; PM Modi said in an exclusive interview to Zee News.

Modi government is going to present its <a href="http://www.wionews.com/india-news/india-plans-to-raise-health-spending-by-11-in-budget-less-than-requested-29949">last full Budget</a> ahead of the general elections 2019. The financial statement for the year ahead is being keenly watched by critics because of tough decisions taken by the Modi government like launching the unified Goods and Services Tax (GST) and demonetisation.

When asked about the bold financial decisions taken by his government, PM Modi said, &quot;If you measure the work done by our government in these four years by only these two parametres, it&#39;s unfair. After nationalisation of banks, about 30-40 per cent of population was out of banking system. We brought them into the system. Isn&#39;t that an achievement? Thousands of girls skipped schools because there were no toilets. We built those toilets for them. Isn&#39;t that an achievement?&rdquo;

Modi also said that he is in favour of holding general elections and state polls together.

&quot;Logically speaking, holding different elections in different dates creates burden on the exchequer. Politicians are always under stress. So I think both Vidhan Sabha and Lok Sabha elections should be organised simultaneously. It will save money and manpower,&quot; the PM said.

Modi said that his government&#39;s achievements can&#39;t be measured on just two decisions - the Goods and Services Tax (GST) and demonetisation.

He also said that every atom of his body is indebted to the country and he wants to keep serving the people of the country. &quot;When I see satisfaction in the eyes of a common man, it gives me power,&quot; PM Modi said.

These are the highlights of the interview.&nbsp; Catch the full interview on Zee News at 8pm on Saturday.

Modi government is going to present its last full Budget ahead of the general elections 2019.

Prime Minister Narendra Modi on Friday said that his government's only agenda for the Budget is development. "My government has only one agenda for Budget - and that is development. And that's what you will see," PM Modi said in an exclusive interview to Zee News. Modi government is going to present its last full Budget ahead of the general elections 2019. The financial statement for the year ahead is being keenly watched by critics because of tough decisions taken by the Modi government like launching the unified Goods and Services Tax (GST) and demonetisation. When asked about the bold financial decisions taken by his government, PM Modi said, "If you measure the work done by our government in these four years by only these two parametres, it's unfair. After nationalisation of banks, about 30-40 per cent of population was out of banking system. We brought them into the system. Isn't that an achievement? Thousands of girls skipped schools because there were no toilets. We built those toilets for them. Isn't that an achievement?” Modi also said that he is in favour of holding general elections and state polls together. "Logically speaking, holding different elections in different dates creates burden on the exchequer. Politicians are always under stress. So I think both Vidhan Sabha and Lok Sabha elections should be organised simultaneously. It will save money and manpower," the PM said. Modi said that his government's achievements can't be measured on just two decisions - the Goods and Services Tax (GST) and demonetisation. He also said that every atom of his body is indebted to the country and he wants to keep serving the people of the country. "When I see satisfaction in the eyes of a common man, it gives me power," PM Modi said. These are the highlights of the interview. Catch the full interview on Zee News at 8pm on Saturday.

My government's only agenda for Budget is development: PM Modi to Zee News

It took a lot of time for this government to fill the &quot;hole&quot; it inherited from its predecessor, BJP President Amit Shah said in the Rajya Sabha Monday. Shah was making his debut speech in Parliament.&nbsp;

Shah said that taking that into consideration, his government&#39;s &quot;achievements&quot;&nbsp;should be looked at differently.&nbsp;

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Sarkaar ne jab kaam-kaaj sambhala, tab sarkaar ke paas virasat me kya tha? Jis prakaar ka gaddha tha, wo gaddha bharne mein hi sarkaar ka bahut saara samay gaya hai aur gaddha bharne ke baad in uplabhdhiyon ko ek alag najariye se dekhein: Amit Shah in Rajya Sabha <a href="https://t.co/W9mY8IkOEV">pic.twitter.com/W9mY8IkOEV</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/960434519210897408?ref_src=twsrc%5Etfw">February 5, 2018</a></blockquote>
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BJP ne kabhi GST ka virodh nahi kiya tha, iske tarikon ka virodh kiya tha. UPA ye kar sudhar leke aayi, Cess ghatane se rajyon ko nuksaan hua, wo UPA ko chukana tha, par nahi chukaya. 37,000 crore NDA ne chukaya: Amit Shah <a href="https://t.co/LKxLhCx48e">pic.twitter.com/LKxLhCx48e</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/960441082206150656?ref_src=twsrc%5Etfw">February 5, 2018</a></blockquote>
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Shah also referred to Prime Minister Modi&#39;s recent statement that a person selling pakodas should be seen as being employed. (The statement had been widely criticised.)

Shah however said Monday that he thought it better that somebody was working than begging. And that the children of the person selling pakodas would go on to become businessmen.&nbsp;

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Abhi mai chidambaram sahab ka tweet padh raha tha ki &#39;mudra bank ke saath kisi ne pakode ka thela laga diya, isko rozgari kehte hain?&#39; Haan main maanta hu ki bheekh maangne se to accha hai ki koi mazdoori kar raha hai. Uski dusri pidhi aage aayegi to udyogpati banegi: Amit Shah
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/960436944235892736?ref_src=twsrc%5Etfw">February 5, 2018</a></blockquote>
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&quot;A chaiwala&#39;s son,&quot;&nbsp;he said, &quot;is sitting in Parliament today.&quot;&nbsp;&nbsp;

He also spoke about &quot;Modicare&quot;, this government&#39;s proposal to give 500 million people health insurance. The announcement was made by Finance Minister Arun Jaitley in his Budget speech.&nbsp;

&quot;No other government has had the courage to do it,&quot; Shah said.&nbsp;

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Puri duniya mein jitne bhi loktantra hai, un sab ki yojanaon ko koi khangal kar dekh le, 50 crore logon ko 5 lakh ka bima suraksha dena, kisi bhi sarkaar me ye saahas nahi hai. Isiliye, Ayaushman Bharat ko ab &#39;Namo healthcare&#39; ke naam se ye janta jaanegi: Amit Shah
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/960438614256701440?ref_src=twsrc%5Etfw">February 5, 2018</a></blockquote>
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Shah also spoke about the &quot;surgical strikes&quot;, calling them a &quot;historic moment&quot;.&nbsp;

&quot;World started seeing India from a different view. They realised that after America and Israel, India is the only country which can protect its soldiers and army,&quot; Shah said.&nbsp;

Shah also said that &quot;we handled the Kashmir issue very well&quot;. And that Kashmir has never been so safe in the last 35 years&quot;.&nbsp;&nbsp;

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Kashmir issue is very crucial problem for the nation. Kashmir has never been so safe in the last 35 years. We handled the Kashmir issue very well: Amit Shah
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/960446104612556800?ref_src=twsrc%5Etfw">February 5, 2018</a></blockquote>
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&nbsp;

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Sarvanumat se faisla hua hai.Aur shabd kya diya? Gabbar Singh Tax, kon hai Gabbar Singh? Sholay film me dakait ka naam tha. Kanoon se bana hua tax wasoolna daikaiti hai kya?: Amit Shah
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/960443178561212416?ref_src=twsrc%5Etfw">February 5, 2018</a></blockquote>
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The BJP President made his debut speech in the Rajya Sabha Monday

It took a lot of time for this government to fill the "hole" it inherited from its predecessor, BJP President Amit Shah said in the Rajya Sabha Monday. Shah was making his debut speech in Parliament. Shah said that taking that into consideration, his government's "achievements" should be looked at differently. Sarkaar ne jab kaam-kaaj sambhala, tab sarkaar ke paas virasat me kya tha? Jis prakaar ka gaddha tha, wo gaddha bharne mein hi sarkaar ka bahut saara samay gaya hai aur gaddha bharne ke baad in uplabhdhiyon ko ek alag najariye se dekhein: Amit Shah in Rajya Sabha pic.twitter.com/W9mY8IkOEV — ANI (@ANI) February 5, 2018 × BJP ne kabhi GST ka virodh nahi kiya tha, iske tarikon ka virodh kiya tha. UPA ye kar sudhar leke aayi, Cess ghatane se rajyon ko nuksaan hua, wo UPA ko chukana tha, par nahi chukaya. 37,000 crore NDA ne chukaya: Amit Shah pic.twitter.com/LKxLhCx48e — ANI (@ANI) February 5, 2018 × Shah also referred to Prime Minister Modi's recent statement that a person selling pakodas should be seen as being employed. (The statement had been widely criticised.) Shah however said Monday that he thought it better that somebody was working than begging. And that the children of the person selling pakodas would go on to become businessmen. Abhi mai chidambaram sahab ka tweet padh raha tha ki 'mudra bank ke saath kisi ne pakode ka thela laga diya, isko rozgari kehte hain?' Haan main maanta hu ki bheekh maangne se to accha hai ki koi mazdoori kar raha hai. Uski dusri pidhi aage aayegi to udyogpati banegi: Amit Shah — ANI (@ANI) February 5, 2018 × "A chaiwala's son," he said, "is sitting in Parliament today." He also spoke about "Modicare", this government's proposal to give 500 million people health insurance. The announcement was made by Finance Minister Arun Jaitley in his Budget speech. "No other government has had the courage to do it," Shah said. Puri duniya mein jitne bhi loktantra hai, un sab ki yojanaon ko koi khangal kar dekh le, 50 crore logon ko 5 lakh ka bima suraksha dena, kisi bhi sarkaar me ye saahas nahi hai. Isiliye, Ayaushman Bharat ko ab 'Namo healthcare' ke naam se ye janta jaanegi: Amit Shah — ANI (@ANI) February 5, 2018 × Shah also spoke about the "surgical strikes", calling them a "historic moment". "World started seeing India from a different view. They realised that after America and Israel, India is the only country which can protect its soldiers and army," Shah said. Shah also said that "we handled the Kashmir issue very well". And that Kashmir has never been so safe in the last 35 years". Kashmir issue is very crucial problem for the nation. Kashmir has never been so safe in the last 35 years. We handled the Kashmir issue very well: Amit Shah — ANI (@ANI) February 5, 2018 × Sarvanumat se faisla hua hai.Aur shabd kya diya? Gabbar Singh Tax, kon hai Gabbar Singh? Sholay film me dakait ka naam tha. Kanoon se bana hua tax wasoolna daikaiti hai kya?: Amit Shah — ANI (@ANI) February 5, 2018 ×

Better to sell pakodas than beg: Amit Shah in Parliament

Congress President Rahul Gandhi has said that he will change the structure of the Goods and Services Tax&nbsp; (GST)&nbsp;if his party comes to power in the centre.&nbsp;&nbsp;

While addressing an election campaign in poll-bound state Meghalaya he said: &quot; If we come to power in the centre, we are going to change the structure of GST and simplify it&quot;.

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If we come back to power in the centre, we are going change the structure of <a href="https://twitter.com/hashtag/GST?src=hash&amp;ref_src=twsrc%5Etfw">#GST</a> &amp; simplify it: Rahul Gandhi in Shillong <a href="https://t.co/mkBu4fg3hJ">pic.twitter.com/mkBu4fg3hJ</a>
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He also invited women from the state to join his party.

Gandhi said &quot; One of the most important&nbsp;things to be done in the Congress is to balance the number of men we put to fight election and the number of women. I would&nbsp;like to invite women to join the party in Meghalaya so that we have more and more women to choose from&quot;.

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One of the most important thing to be done in the Congress is to balance the number of men we put to fight election &amp; the number of women. I would like to invite women to join the party in <a href="https://twitter.com/hashtag/Meghalaya?src=hash&amp;ref_src=twsrc%5Etfw">#Meghalaya</a> so that we have more &amp; more women to choose from: Rahul Gandhi in <a href="https://twitter.com/hashtag/Shillong?src=hash&amp;ref_src=twsrc%5Etfw">#Shillong</a> <a href="https://t.co/otBarDiYSI">pic.twitter.com/otBarDiYSI</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/958641360562683904?ref_src=twsrc%5Etfw">January 31, 2018</a></blockquote>
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He also hit out at the BJP-RSS claiming that their idea is to&nbsp;dis-empower women.&nbsp;

He said &quot; RSS idea aimed at dis-empowering women. Does anyone know how many leadership positions are with women in RSS? Zero. If you see picture of Mahatma Gandhi you will find women on his side, but if you see picture of Mohan Bhagwat, he &#39;ll be alone.&nbsp;

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RSS idea aimed at dis-empowering women. Does anyone know many leadership positions are with women in RSS? Zero. If you see pix of Mahatma Gandhi you&#39;ll find women on this side (right), this side (left) but if you see pix of Mohan Bhagwat, he&#39;ll be alone or surrounded by men: RG <a href="https://t.co/52xSDReDLc">pic.twitter.com/52xSDReDLc</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/958638837076512768?ref_src=twsrc%5Etfw">January 31, 2018</a></blockquote>
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Gandhi said &quot; We are fighting RSS ideology across the nation. Idea is that one form of thinking is imposed on the country. What BJP and RSS are doing in all over India and particularly in North-east is attempting to undermine your culture, language and way of life&quot;.

<a href="http://www.wionews.com/india-news/congress-announces-candidateslist-for-tripura-meghalaya-30935" target="_blank">Polling in Meghalaya and Nagaland </a>will take place on February 27.

&nbsp;

While addressing an election campaign in poll-bound state Meghalaya he said: 'If we come to power in the centre, we are going to change the structure of GST and simplify it'

Congress President Rahul Gandhi has said that he will change the structure of the Goods and Services Tax (GST) if his party comes to power in the centre. While addressing an election campaign in poll-bound state Meghalaya he said: " If we come to power in the centre, we are going to change the structure of GST and simplify it". If we come back to power in the centre, we are going change the structure of #GST & simplify it: Rahul Gandhi in Shillong pic.twitter.com/mkBu4fg3hJ — ANI (@ANI) January 31, 2018 × He also invited women from the state to join his party. Gandhi said " One of the most important things to be done in the Congress is to balance the number of men we put to fight election and the number of women. I would like to invite women to join the party in Meghalaya so that we have more and more women to choose from". One of the most important thing to be done in the Congress is to balance the number of men we put to fight election & the number of women. I would like to invite women to join the party in #Meghalaya so that we have more & more women to choose from: Rahul Gandhi in #Shillong pic.twitter.com/otBarDiYSI — ANI (@ANI) January 31, 2018 × He also hit out at the BJP-RSS claiming that their idea is to dis-empower women. He said " RSS idea aimed at dis-empowering women. Does anyone know how many leadership positions are with women in RSS? Zero. If you see picture of Mahatma Gandhi you will find women on his side, but if you see picture of Mohan Bhagwat, he 'll be alone. RSS idea aimed at dis-empowering women. Does anyone know many leadership positions are with women in RSS? Zero. If you see pix of Mahatma Gandhi you'll find women on this side (right), this side (left) but if you see pix of Mohan Bhagwat, he'll be alone or surrounded by men: RG pic.twitter.com/52xSDReDLc — ANI (@ANI) January 31, 2018 × Gandhi said " We are fighting RSS ideology across the nation. Idea is that one form of thinking is imposed on the country. What BJP and RSS are doing in all over India and particularly in North-east is attempting to undermine your culture, language and way of life". Polling in Meghalaya and Nagaland will take place on February 27.

If we come back to Centre, we will change GST structure: Rahul Gandhi

India&#39;s government will unveil its budget for the 2018-19 fiscal year on Thursday, with investors expecting increased investment in key areas such as agriculture, and a slew of incentives for businesses.

After the roll out of the Goods and Services Tax (GST) last year, India&#39;s economy is expected to post growth of 6.75 per cent in the 2017-18 fiscal year ending in March, which would be the slowest in three years.

The government is widely expected to increase spending to ensure growth recaptures momentum, but most investors expect it to be prudent as loosening fiscal deficit targets by too much would likely spark a sell-off in the bond market.

However, speculation is rife in different sectors for tax sops. Everyone is putting forward its wishlist for Finance Minister Arun Jaitley as he geats ready to present Modi government&#39;s last full Budget.

Leading health insurance company Aviva wants the government to increase the income tax slabs exemption &quot;leaving more money in people&#39;s hands&quot;.

&quot;The insurance industry has always played a significant role in the economic development of nations and society. Predominantly, what we should look forward following the upcoming budget would be increase in the number of people having adequate insurance cover. To attain the same, there should be an increase in the income tax slabs exemption leaving more money in people&#39;s hands to channelise the funds well,&quot; said Karni S Arha, Chief Financial Officer, Aviva India.

We should expect to promote a separate dedicated insurance premium exemption limit as the current composite limit u/s 80c (Rs 1.5lac) is already overcrowded and exhausted, he added.

As per the IRDA, the insurance penetration (percentage of insurance premium to the GDP) in India is currently at 3.42 per cent, significantly lower than the global average of 6.2 per cent. The industry believes this is one of the aspects which needs to be looked into on priority.

The growing recognition of India&#39;s healthcare crisis has led to urgency for increased public funding of healthcare, which, the industry believes, can be taken up in the Union Budget.

After the roll out of the Goods and Services Tax (GST) last year, India's economy is expected to post growth of 6.75 per cent in the 2017-18 fiscal year ending in March, which would be the slowest in three years.

India's government will unveil its budget for the 2018-19 fiscal year on Thursday, with investors expecting increased investment in key areas such as agriculture, and a slew of incentives for businesses. After the roll out of the Goods and Services Tax (GST) last year, India's economy is expected to post growth of 6.75 per cent in the 2017-18 fiscal year ending in March, which would be the slowest in three years. The government is widely expected to increase spending to ensure growth recaptures momentum, but most investors expect it to be prudent as loosening fiscal deficit targets by too much would likely spark a sell-off in the bond market. However, speculation is rife in different sectors for tax sops. Everyone is putting forward its wishlist for Finance Minister Arun Jaitley as he geats ready to present Modi government's last full Budget. Leading health insurance company Aviva wants the government to increase the income tax slabs exemption "leaving more money in people's hands". "The insurance industry has always played a significant role in the economic development of nations and society. Predominantly, what we should look forward following the upcoming budget would be increase in the number of people having adequate insurance cover. To attain the same, there should be an increase in the income tax slabs exemption leaving more money in people's hands to channelise the funds well," said Karni S Arha, Chief Financial Officer, Aviva India. We should expect to promote a separate dedicated insurance premium exemption limit as the current composite limit u/s 80c (Rs 1.5lac) is already overcrowded and exhausted, he added. As per the IRDA, the insurance penetration (percentage of insurance premium to the GDP) in India is currently at 3.42 per cent, significantly lower than the global average of 6.2 per cent. The industry believes this is one of the aspects which needs to be looked into on priority. The growing recognition of India's healthcare crisis has led to urgency for increased public funding of healthcare, which, the industry believes, can be taken up in the Union Budget.

Budget 2018: What the insurance sector wants

The all-powerful GST Council today veered around the idea of making the GST return filing process simpler to ease compliance burden for small businesses.

The panel, headed by Finance Minister Arun Jaitley and comprising representatives of all states, at its 25th meeting today decided to reduce tax rate on 29 items and 54 categories of services with effect from January 25.

Briefing reporters after the meeting, Jaitley said the next meeting of the Council may consider bringing items like crude oil, natural gas, petrol, diesel, ATF and real estate within the GST purview.

In a bid to ease compliance burden, the Council veered around to the idea of registered entities continuing to file the return in GSTR 3B Form while moving to a system where supplier invoice captures details of the transaction.

The new process would be finalised in the next meeting of the GST Council after a written formulation is circulated to the states, he said.

The date of the next meeting of the Council has not yet been decided, he said.

Jaitley said the GST provision requiring transporters to carry an electronic waybill or e-way bill, when moving goods of over Rs 50,000 in value between states, will be implemented from February 1 to check rampant tax evasion.

As many as 15 states have decided to implement the provision for intra-state movements as well, he said.

After implementation of the Goods and Services Tax (GST) from July 1, the requirement of carrying e-way bill was postponed pending IT network readiness.

Once the e-way bill system is implemented, tax avoidance will become extremely difficult as the government will have details of all goods above the value of Rs 50,000 moved and can spot the mismatch if either the supplier or the purchaser does not file tax returns.&nbsp;

It also veered around to the idea of making the GST return filing process simpler

The all-powerful GST Council today veered around the idea of making the GST return filing process simpler to ease compliance burden for small businesses. The panel, headed by Finance Minister Arun Jaitley and comprising representatives of all states, at its 25th meeting today decided to reduce tax rate on 29 items and 54 categories of services with effect from January 25. Briefing reporters after the meeting, Jaitley said the next meeting of the Council may consider bringing items like crude oil, natural gas, petrol, diesel, ATF and real estate within the GST purview. In a bid to ease compliance burden, the Council veered around to the idea of registered entities continuing to file the return in GSTR 3B Form while moving to a system where supplier invoice captures details of the transaction. The new process would be finalised in the next meeting of the GST Council after a written formulation is circulated to the states, he said. The date of the next meeting of the Council has not yet been decided, he said. Jaitley said the GST provision requiring transporters to carry an electronic waybill or e-way bill, when moving goods of over Rs 50,000 in value between states, will be implemented from February 1 to check rampant tax evasion. As many as 15 states have decided to implement the provision for intra-state movements as well, he said. After implementation of the Goods and Services Tax (GST) from July 1, the requirement of carrying e-way bill was postponed pending IT network readiness. Once the e-way bill system is implemented, tax avoidance will become extremely difficult as the government will have details of all goods above the value of Rs 50,000 moved and can spot the mismatch if either the supplier or the purchaser does not file tax returns.

GST Council cuts tax rates on 29 items, 54 services

The middle class can hope for a big relief in 2018-19 Budget, which will also be the last regular Budget of the NDA government, as the finance ministry is contemplating to hike personal tax exemption limit and tweak the tax slabs, according to sources.

The proposals before the ministry are to hike the tax exemption limit from the existing Rs 2.5 lakh per annum to at least Rs 3 lakh if not 5 lakh, they said.

Besides, the tinkering of tax slab is also being actively considered by the ministry to give substantial relief to middle-income group, especially the salaried class, to help them tide over the impact of retail inflation, which has started inching up.

In the last Budget, Finance Minister Arun Jaitley left the slabs unchanged but gave marginal relief to the small taxpayer by reducing the rate from 10 per cent to 5 per cent for individuals having an annual income between Rs 2.5-5 lakh.

In the next Budget to be unveiled on February 1, the government could lower tax rate by 10 per cent on income between 5-10 lakh, levy 20 per cent rate for income between Rs 10-20 lakh and 30 per cent for income beyond Rs 20 lakh.

At present, there is no tax slab for income between 10-20 lakh.

&quot;Considering the steep rise in the cost of living due to inflation, it is suggested that basic limit for exemption and other income slabs should be enhanced to give benefit to low-income group. The income trigger for peak rate in other countries is significantly higher,&quot; industry chamber CII said in its pre-Budget memorandum to the finance ministry.

Although the industry chambers want the government to reduce peak tax slab to 25 per cent, it is unlikely that the ministry will agree to that due to pressure on fiscal deficit.

The subdued indirect tax collection the following rollout of Goods and Services Tax from July 1 last year has put pressure on the fiscal deficit, which has been pegged at 3.2 per cent of the GDP for 2017-18.

The government recently raised borrowing target by additional Rs 50,000 crore for the current fiscal to meet the shortfall.

According to industry body FICCI, there is a likelihood that demonetisation effects may linger on for some more months and hence there is a need to further boost demand and therefore, the government should consider revision of income tax slabs, by raising the income level on which peak tax rate would trigger.

&quot;This would improve purchasing power and create additional demand. For individual taxpayers, 30 per cent tax rate should be applied only if the income is above Rs 20 lakh. Additionally, interest rates should be lowered to enable affordable finance for conducting business operation and expansion,&quot; it said.

Among other things, chambers have suggested reintroduction of the standard deduction for salaried employees to at least Rs 1 lakh to ease the tax burden of them and keeping in mind the rate of inflation and purchasing power of the salaried individual, which is dependent on salary available for disbursement.

Standard deduction, which was available to the salaried individuals on their taxable income, was abolished with effect from the assessment year 2006-07.

The finance ministry is contemplating to hike personal tax exemption limit and tweak the tax slabs

The middle class can hope for a big relief in 2018-19 Budget, which will also be the last regular Budget of the NDA government, as the finance ministry is contemplating to hike personal tax exemption limit and tweak the tax slabs, according to sources. The proposals before the ministry are to hike the tax exemption limit from the existing Rs 2.5 lakh per annum to at least Rs 3 lakh if not 5 lakh, they said. Besides, the tinkering of tax slab is also being actively considered by the ministry to give substantial relief to middle-income group, especially the salaried class, to help them tide over the impact of retail inflation, which has started inching up. In the last Budget, Finance Minister Arun Jaitley left the slabs unchanged but gave marginal relief to the small taxpayer by reducing the rate from 10 per cent to 5 per cent for individuals having an annual income between Rs 2.5-5 lakh. In the next Budget to be unveiled on February 1, the government could lower tax rate by 10 per cent on income between 5-10 lakh, levy 20 per cent rate for income between Rs 10-20 lakh and 30 per cent for income beyond Rs 20 lakh. At present, there is no tax slab for income between 10-20 lakh. "Considering the steep rise in the cost of living due to inflation, it is suggested that basic limit for exemption and other income slabs should be enhanced to give benefit to low-income group. The income trigger for peak rate in other countries is significantly higher," industry chamber CII said in its pre-Budget memorandum to the finance ministry. Although the industry chambers want the government to reduce peak tax slab to 25 per cent, it is unlikely that the ministry will agree to that due to pressure on fiscal deficit. The subdued indirect tax collection the following rollout of Goods and Services Tax from July 1 last year has put pressure on the fiscal deficit, which has been pegged at 3.2 per cent of the GDP for 2017-18. The government recently raised borrowing target by additional Rs 50,000 crore for the current fiscal to meet the shortfall. According to industry body FICCI, there is a likelihood that demonetisation effects may linger on for some more months and hence there is a need to further boost demand and therefore, the government should consider revision of income tax slabs, by raising the income level on which peak tax rate would trigger. "This would improve purchasing power and create additional demand. For individual taxpayers, 30 per cent tax rate should be applied only if the income is above Rs 20 lakh. Additionally, interest rates should be lowered to enable affordable finance for conducting business operation and expansion," it said. Among other things, chambers have suggested reintroduction of the standard deduction for salaried employees to at least Rs 1 lakh to ease the tax burden of them and keeping in mind the rate of inflation and purchasing power of the salaried individual, which is dependent on salary available for disbursement. Standard deduction, which was available to the salaried individuals on their taxable income, was abolished with effect from the assessment year 2006-07.

Middle class 'can hope for tax relief' in upcoming Budget

The Lok Sabha passed the Goods and Services Tax (Compensation to States) Amendment Bill 2017 on Wednesday.

The bill was introduced by Arun Jaitley in the lower house last week.&nbsp;

The approval would allow increasing the maximum rate at which the Compensation Cess can be levied from 15 to 25 per cent&nbsp; on motor vehicles for transport of not more than 13 persons, including the driver [falling under sub-headings 870210, 8702 20, 8702 30 or 8702 90]; and motor vehicles falling under headings 8703.

On Wednesday another bill was passed by the Lok Sabha, providing protection to unauthorised colonies and slums from punitive action for three more years.

Today both the houses were adjourned after Opposition leader Ghulam Nabi Azad stalled the house over Union Minister Ananth Kumar Hegde&#39;s statements on secularism and changing the constitution.&nbsp;

(With inputs from ANI)

The bill was introduced by Arun Jaitley in lower house, last week

The Lok Sabha passed the Goods and Services Tax (Compensation to States) Amendment Bill 2017 on Wednesday. The bill was introduced by Arun Jaitley in the lower house last week. The approval would allow increasing the maximum rate at which the Compensation Cess can be levied from 15 to 25 per cent on motor vehicles for transport of not more than 13 persons, including the driver [falling under sub-headings 870210, 8702 20, 8702 30 or 8702 90]; and motor vehicles falling under headings 8703. On Wednesday another bill was passed by the Lok Sabha, providing protection to unauthorised colonies and slums from punitive action for three more years. Today both the houses were adjourned after Opposition leader Ghulam Nabi Azad stalled the house over Union Minister Ananth Kumar Hegde's statements on secularism and changing the constitution. (With inputs from ANI)

Lok Sabha passes GST amendment bill

<a href="http://www.wionews.com/india-news/rupani-sworn-in-as-gujarat-chief-minister-modi-shah-in-attendance-27723">Vijay Rupani&nbsp;</a>is back in the chief minister&#39;s chair after having survived the incumbency factor and a violent quota stir by the Patidars.

Born in Rangoon (now Yangon, Myanmar) Rupani, 61, joined an RSS shakha as a schoolboy, before graduating to the BJP via the Sangh&#39;s students wing--the Akhil Bharatiya Vidyarthi Parishad (ABVP).

Though Prime Minister Narendra Modi was the BJP&#39;s face in the high-octane election campaign in his home state, Rupani, belonging to the relatively small Jain community, steered the party machinery in Gujarat, neutralising the incumbency factor against his government and surviving quota stir by the Patidar community, the bedrock of the party&#39;s support base.

Also read:<a href="http://www.wionews.com/india-news/know-the-gujarat-ministers-who-took-oath-along-with-vijay-rupani-today-27731"> Know the Gujarat ministers who took oath along with Vijay Rupani today</a>

Rupani also successfully contained disenchantment with the government over farm distress in some parts of the state, and economic slowdown due to demonetisation and roll out of the Goods and Services Tax (GST), also stood him in good stead.

Also read: <a href="http://www.wionews.com/india-news/newly-elected-gujarat-cabinet-to-hold-first-meeting-tomorrow-27747">Newly-elected Gujarat cabinet to hold first meeting tomorrow</a>

Despite the BJP&#39;s tally falling below 100 in a long time, Rupani&#39;s selection also suggested that the top party leadership wanted continuity before the 2019 Lok Sabha polls.

Though only a second-time MLA, he made a mark as an able administrator.

Rupani, who worked mostly in the party organisation in Gujarat, fought his first Assembly election in 2014, winning a bypoll from Rajkot West. This time he won from the same seat with an impressive margin of over 53,000 votes.

A bachelor of law, Rupani was a Rajya Sabha member between 2006 and 2012.

It was under him as chairman of the Gujarat Tourism Development Corporation in 2006 that the hugely successful advertisement campaign &#39;Khushboo Gujarat Ki&#39;, featuring megastar Amitabh&nbsp;Bachchan, was launched to promote the state as a tourism hotspot.

He was also the chairman of the Gujarat Municipal Finance Board in 2013.

When the Rajkot West seat fell vacant in October 2014 after Speaker of the Assembly Vajubhai Vala was appointed the Karnataka Governor, Rupani won the bypoll.

On February 19, 2016 he was appointed the chief of the Gujarat BJP. It was seen as a victory for the Amit Shah camp in the state unit.

When the state&#39;s first and only woman chief minister Anandiben Patel resigned in August 2016 following allegations of inept handling of the Patidar and Dalit agitations, Rupani was catapulted to the hot seat.

Rupani honed his political skills in the crucible of the Gujarat Navnirman agitation, a socio-political movement in 1974 by students and the middle-class against economic crisis and corruption in public life.

It soon spread elsewhere, particularly in Bihar, where socialist legend Jayaprakash Narayan gave a call for &#39;Total Revolution&#39;.

The movement finally led to the fall of Indira Gandhi government and installation of the first non-Congress dispensation at the centre under Morarji Desai.

Rupani, who was then with the ABVP, was jailed for nearly a year during Emergency.

As the mayor of Rajkot in 1996-97, he endeared himself to people of the city with his initiatives for improvement of the civic infrastructure.

Rupani&#39;s mettle as a politician will be tested again in the 2019 Lok Sabha polls when Modi bids for a second shot at power.

Delivering Gujarat to the BJP is the least he would expect from Amit Shah&#39;s man in Gandhinagar.&nbsp;

Born in Rangoon (now Yangon, Myanmar) Rupani joined an RSS shakha as a schoolboy

Vijay Rupani is back in the chief minister's chair after having survived the incumbency factor and a violent quota stir by the Patidars. Born in Rangoon (now Yangon, Myanmar) Rupani, 61, joined an RSS shakha as a schoolboy, before graduating to the BJP via the Sangh's students wing--the Akhil Bharatiya Vidyarthi Parishad (ABVP). Though Prime Minister Narendra Modi was the BJP's face in the high-octane election campaign in his home state, Rupani, belonging to the relatively small Jain community, steered the party machinery in Gujarat, neutralising the incumbency factor against his government and surviving quota stir by the Patidar community, the bedrock of the party's support base. Also read: Know the Gujarat ministers who took oath along with Vijay Rupani today Rupani also successfully contained disenchantment with the government over farm distress in some parts of the state, and economic slowdown due to demonetisation and roll out of the Goods and Services Tax (GST), also stood him in good stead. Also read: Newly-elected Gujarat cabinet to hold first meeting tomorrow Despite the BJP's tally falling below 100 in a long time, Rupani's selection also suggested that the top party leadership wanted continuity before the 2019 Lok Sabha polls. Though only a second-time MLA, he made a mark as an able administrator. Rupani, who worked mostly in the party organisation in Gujarat, fought his first Assembly election in 2014, winning a bypoll from Rajkot West. This time he won from the same seat with an impressive margin of over 53,000 votes. A bachelor of law, Rupani was a Rajya Sabha member between 2006 and 2012. It was under him as chairman of the Gujarat Tourism Development Corporation in 2006 that the hugely successful advertisement campaign 'Khushboo Gujarat Ki', featuring megastar Amitabh Bachchan, was launched to promote the state as a tourism hotspot. He was also the chairman of the Gujarat Municipal Finance Board in 2013. When the Rajkot West seat fell vacant in October 2014 after Speaker of the Assembly Vajubhai Vala was appointed the Karnataka Governor, Rupani won the bypoll. On February 19, 2016 he was appointed the chief of the Gujarat BJP. It was seen as a victory for the Amit Shah camp in the state unit. When the state's first and only woman chief minister Anandiben Patel resigned in August 2016 following allegations of inept handling of the Patidar and Dalit agitations, Rupani was catapulted to the hot seat. Rupani honed his political skills in the crucible of the Gujarat Navnirman agitation, a socio-political movement in 1974 by students and the middle-class against economic crisis and corruption in public life. It soon spread elsewhere, particularly in Bihar, where socialist legend Jayaprakash Narayan gave a call for 'Total Revolution'. The movement finally led to the fall of Indira Gandhi government and installation of the first non-Congress dispensation at the centre under Morarji Desai. Rupani, who was then with the ABVP, was jailed for nearly a year during Emergency. As the mayor of Rajkot in 1996-97, he endeared himself to people of the city with his initiatives for improvement of the civic infrastructure. Rupani's mettle as a politician will be tested again in the 2019 Lok Sabha polls when Modi bids for a second shot at power. Delivering Gujarat to the BJP is the least he would expect from Amit Shah's man in Gandhinagar.

Vijay Rupani back as Gujarat's CM: The man who beat incumbency factor and Patidar stir

The BJP is on course to take Gujarat, and most of Surat with it.&nbsp;

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet" data-lang="en">
Congratulations to all candidates in Surat for winning 12/12 seats! The people of Gujarat have rejected those who tried to divide us in the name of caste! The vision of Shri <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> ji &amp; Shri <a href="https://twitter.com/AmitShah?ref_src=twsrc%5Etfw">@amitshah</a> ji will march ahead! <a href="https://twitter.com/hashtag/BJPWinsGujarat?src=hash&amp;ref_src=twsrc%5Etfw">#BJPWinsGujarat</a> <a href="https://twitter.com/hashtag/GujaratVerdict?src=hash&amp;ref_src=twsrc%5Etfw">#GujaratVerdict</a> <a href="https://t.co/JOeQnkWEis">pic.twitter.com/JOeQnkWEis</a>
&mdash; Darshana Jardosh (@DarshanaJardosh) <a href="https://twitter.com/DarshanaJardosh/status/942671566835367936?ref_src=twsrc%5Etfw">December 18, 2017</a></blockquote>
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Surat was being closely watched because of the trader protests there against the GST.&nbsp;

They had not been happy with the Goods and Services Tax.&nbsp;

(It is important to note though that counting is still underway in Surat and the results of all 16 assembly seats in Surat have not yet been declared.)&nbsp;

But the Election Commission, which has declared leads, is at the moment giving the BJP the lead in at least 12 seats in Surat.&nbsp;

Surat is the hub of the baniya or trader community, which makes up 14% of Gujarat&#39;s population.&nbsp;

The protest that really got the BJP&#39;s attention was the one by Surat&#39;s textile traders. Surat is the country&#39;s largest man-made fabric hub.&nbsp;

The BJP was quick to act on the disenchantment.&nbsp;

It cut the GST rate on yarn from 18% to 12%, increased the customs duty on fabric by 25% to curb imports from China, and offered relief in the filing of GST returns.&nbsp;

It also cut the tax rate on khakhra, a popular Gujarati snack, and some namkeens.&nbsp;

And announced a number of relief measures for exporters.&nbsp;

&nbsp;

Surat was being closely watched because of the trader protests there against the GST

The BJP is on course to take Gujarat, and most of Surat with it. Congratulations to all candidates in Surat for winning 12/12 seats! The people of Gujarat have rejected those who tried to divide us in the name of caste! The vision of Shri @narendramodi ji & Shri @amitshah ji will march ahead! #BJPWinsGujarat #GujaratVerdict pic.twitter.com/JOeQnkWEis — Darshana Jardosh (@DarshanaJardosh) December 18, 2017 × Surat was being closely watched because of the trader protests there against the GST. They had not been happy with the Goods and Services Tax. (It is important to note though that counting is still underway in Surat and the results of all 16 assembly seats in Surat have not yet been declared.) But the Election Commission, which has declared leads, is at the moment giving the BJP the lead in at least 12 seats in Surat. Surat is the hub of the baniya or trader community, which makes up 14% of Gujarat's population. The protest that really got the BJP's attention was the one by Surat's textile traders. Surat is the country's largest man-made fabric hub. The BJP was quick to act on the disenchantment. It cut the GST rate on yarn from 18% to 12%, increased the customs duty on fabric by 25% to curb imports from China, and offered relief in the filing of GST returns. It also cut the tax rate on khakhra, a popular Gujarati snack, and some namkeens. And announced a number of relief measures for exporters.

Gujarat election results: Hub of trader protests, BJP on course to winning most seats in Surat

The all-powerful GST Council will meet on Saturday to discuss early implementation of e-way bill as well as ways to plug tax evasion.

Headed by Finance Minister Arun Jaitley, the meeting will be held via video conferencing and deliberate on cementing gaps in the system as well as curbing evasion, sources said.

The meeting assumes importance as there has been Rs 12,000 crore revenue decline in the Goods and Services Tax (GST) in October over the preceding month and tax evasion is considered one of the reasons for this, they said.

This would be the 24th meeting of the Council. The last meeting was held in Guwahati in November where taxes on 178 items were slashed.

In an earlier meeting, the council had decided that e-way bill - an electronic document generated on the GST Network portal - would be introduced in a staggered manner from January 1 and subsequently nation-wide from April 1.

However, the need to review the rollout timeline stems from revenue shortfall registered last month.

The GST revenue for October stood at Rs 83,346 crore, the lowest compared to the first three months since the implementation of GST from July 1. It was significantly down from the September figure of Rs 95,131 crore.

Jaitley had said on Thursday that the council has prepared schedule with regard to e-way bill to check evasion.

&quot;I think Council has already taken decision with regard to time schedule, with regard to e-way bill itself. That will help in enhancing collection,&quot; he had said.

Besides, sources said, invoice matching is also something that the council will deliberate on Saturday.

An e-way bill is required for movement of goods worth more than Rs 50,000. When goods are transported for less than 10 km within the state, the supplier or the transporter need not furnish details on the portal.

&nbsp;

The meeting assumes importance as there has been Rs 12,000 crore revenue decline in the Goods and Services Tax (GST) in October over the preceding month and tax evasion is considered one of the reasons for this, they said.

The all-powerful GST Council will meet on Saturday to discuss early implementation of e-way bill as well as ways to plug tax evasion. Headed by Finance Minister Arun Jaitley, the meeting will be held via video conferencing and deliberate on cementing gaps in the system as well as curbing evasion, sources said. The meeting assumes importance as there has been Rs 12,000 crore revenue decline in the Goods and Services Tax (GST) in October over the preceding month and tax evasion is considered one of the reasons for this, they said. This would be the 24th meeting of the Council. The last meeting was held in Guwahati in November where taxes on 178 items were slashed. In an earlier meeting, the council had decided that e-way bill - an electronic document generated on the GST Network portal - would be introduced in a staggered manner from January 1 and subsequently nation-wide from April 1. However, the need to review the rollout timeline stems from revenue shortfall registered last month. The GST revenue for October stood at Rs 83,346 crore, the lowest compared to the first three months since the implementation of GST from July 1. It was significantly down from the September figure of Rs 95,131 crore. Jaitley had said on Thursday that the council has prepared schedule with regard to e-way bill to check evasion. "I think Council has already taken decision with regard to time schedule, with regard to e-way bill itself. That will help in enhancing collection," he had said. Besides, sources said, invoice matching is also something that the council will deliberate on Saturday. An e-way bill is required for movement of goods worth more than Rs 50,000. When goods are transported for less than 10 km within the state, the supplier or the transporter need not furnish details on the portal.

GST Council to meet on Saturday; discuss roll out of e-way bill

As many as 25 pending bills and 14 new ones, including Goods and Services Tax (GST) and Muslim women rights, will be picked up in the session spread over 22 days during the winter session that is all set to begin on Friday.

&quot;Main issues in the session will be supplementary demand for grants, Constitutional amendment Article 123 (Constitutional status to backward classes), Muslim women Right on Marriage 2017 bill. We will also discuss three ordinances including GST compensation to states,&quot; said Parliamentary Affairs Minister Ananth Kumar on Thursday.

Among the 25 Bills, few crucial Bills expected to be taken up are:

The Goods &amp; Services Tax (Compensation to States) Ordinance, 2017, Muslim Women (Protection of Rights on Marriage) Bill, Insolvency &amp; Bankruptcy Code (Amendment) Ordinance, 2017, Indian Forest (Amendment) Ordinance, 2017, Surrogacy (Regulation) Bill, 2016, Prevention of Corruption (Amendment) Bill, 2013 and Transgender Persons (Protection of Rights) Bill, 2016 are some the bills will be taken up during the session.

Earlier the Opposition alleged that the BJP led government at the Centre delayed the Winter Session to avoid questions on GST and other key issues ahead of the Gujarat and Himachal Assembly polls.&nbsp;

Gujarat polls were held in two phases on December 9 and 14, Himachal elections on November 9. The counting for both the states will be held on December 18.

Meanwhile, Prime Minister Narendra Modi chaired an all-party meet to chalk out the strategy of the winter session of Parliament. He requested for cooperation by all parties in order to make the Parliament session a fruitful one.

&quot;The Prime Minister appealed to everyone for a successful Parliament winter session. He also appealed to everyone for a peaceful session following the high-pitched election,&quot; Kumar added.

Parliament Winter Session which begins on December 15, 2017, and lasts till January 5, 2018, is expected to witness heavy fireworks as the Congress would try to corner Prime Minister Narendra Modi-led government over a range of issues.

Earlier, Leader of Opposition in Lok Sabha Mallikarjun Kharge had asserted that the Congress party would raise various issues in the Parliament session including Goods and Services Tax (GST), demonetisation, Rafael deal and economic condition.

Earlier the Opposition alleged that the BJP led government at the Centre delayed the Winter Session to avoid questions on GST and other key issues ahead of the Gujarat and Himachal Assembly polls.?

As many as 25 pending bills and 14 new ones, including Goods and Services Tax (GST) and Muslim women rights, will be picked up in the session spread over 22 days during the winter session that is all set to begin on Friday. "Main issues in the session will be supplementary demand for grants, Constitutional amendment Article 123 (Constitutional status to backward classes), Muslim women Right on Marriage 2017 bill. We will also discuss three ordinances including GST compensation to states," said Parliamentary Affairs Minister Ananth Kumar on Thursday. Among the 25 Bills, few crucial Bills expected to be taken up are: The Goods & Services Tax (Compensation to States) Ordinance, 2017, Muslim Women (Protection of Rights on Marriage) Bill, Insolvency & Bankruptcy Code (Amendment) Ordinance, 2017, Indian Forest (Amendment) Ordinance, 2017, Surrogacy (Regulation) Bill, 2016, Prevention of Corruption (Amendment) Bill, 2013 and Transgender Persons (Protection of Rights) Bill, 2016 are some the bills will be taken up during the session. Earlier the Opposition alleged that the BJP led government at the Centre delayed the Winter Session to avoid questions on GST and other key issues ahead of the Gujarat and Himachal Assembly polls. Gujarat polls were held in two phases on December 9 and 14, Himachal elections on November 9. The counting for both the states will be held on December 18. Meanwhile, Prime Minister Narendra Modi chaired an all-party meet to chalk out the strategy of the winter session of Parliament. He requested for cooperation by all parties in order to make the Parliament session a fruitful one. "The Prime Minister appealed to everyone for a successful Parliament winter session. He also appealed to everyone for a peaceful session following the high-pitched election," Kumar added. Parliament Winter Session which begins on December 15, 2017, and lasts till January 5, 2018, is expected to witness heavy fireworks as the Congress would try to corner Prime Minister Narendra Modi-led government over a range of issues. Earlier, Leader of Opposition in Lok Sabha Mallikarjun Kharge had asserted that the Congress party would raise various issues in the Parliament session including Goods and Services Tax (GST), demonetisation, Rafael deal and economic condition.

Winter session of Parliament begins today, Centre seeks to pass 25 bills

Each time you watched Rahul Gandhi take to the stage during his Gujarat election campaigns and explain before a waiting crowd that the GST is nothing but &#39;Gabbar Singh Tax&#39;, you must have wondered what&#39;s wrong with the man. You must have got curious to know which school Rahul Gandhi got his economics lessons from.

However, let me tell you he is perfectly all right and that he is got his lessons from the best school of a politician - the dusty by-lanes of Indian politics.

Politics is all about reaching out to the masses and making an everlasting connect with them; it&#39;s a bonding made stronger with deft communication, apt vocabulary and noisy rhetoric. The greater your ability to connect with the rank and file of the profanum vulgus, the better is your chances in politics. Add a bit of theatrics and voila! You&#39;ve got what it takes.

After 17 or so defeats in successive elections, Rahul Gandhi now seems to have learnt the ropes. Many political observers and analysts believe that Rahul has found his tongue. He&#39;s discovered the art of communication, at least to the best of his limitations. &#39;Gabbar Singh Tax&#39; serves the best example.

GST brought with it two &#39;miseries&#39; to the common people; the first, disruption in normal economic activities of the small traders and second, complexities. Close on the heels of demonetisation, GST brought another commotion in the life of the common man, especially small traders and businessmen. They&#39;ve their experiences to believe GST is bad but the government has its data to prove it&#39;s good. In the scenario, a clever politician knows that theoretically speaking, GST can&#39;t be opposed. It can be defeated only through canards and polemics.

A polemic of lies and derision is the best anecdote to constructive ideas.

&#39;Gabbar Singh Tax&#39; invented that polemic of lies which the disgruntled aam aadmi was looking for and Rahul Gandhi made the most of it. The masses were exhilarated at the description. Each time Gandhi twisted the microphone and uttered the phrase &#39;Gabbar Singh Tax&#39;, the crowd went berserk in jubilation. He knew he had given expression to the anger of the millions. He didn&#39;t know himself what it exactly meant. He need not, either. His job was done.

No amount of pedantic discourse or academic description can destroy the effects of a &#39;Gabbar Singh Tax&#39; narrative. Today, no one remembers what Arun Jaitley said to counter the Gabbar Singh jibe, though he said all those academically correct things. Yet, people only remember what Rahul said. And that&#39;s the art of making a connect.

A good many people are disenchanted in some way or other and a section of media has worked overtime to prove that the government policies are anti-people. Mainstreaming the cash economy and forcing people to live in transparent glasshouses has its own challenges.

The political wisdom says a politician must use the situation to the best of his abilities. Hence, the Congress has exploited the disenchantment of the masses to the best of its ability and fed on the ignorance of the people. Gandhi knows that the aam aadmi, like him, has no appetite for facts or analysis nor it believes in lengthy explanations. The common man needs off-the-shelf concepts, and few catchphrases, to describe his pent up emotions. The &#39;Gabbar Singh Tax&#39;, fits the bill precisely. In this political campaign, the government hit the hustings with facts, figures and analysis and it lost audience. The Congress hit the campaign with polemic and lies and it struck an instant chord with the masses. The media, always hungry for the catchphrases, multiplied the effect.

In the post-truth politics, what matters more is perception and catchphrases do wonderful jobs in shaping perception. It may be a lie or bullshit is another matter. Politics, anyway, is never about teaching the truth. Nor it&#39;s about accountability. Misleading the masses is intelligent so long it fetches votes. And, Gandhi needs votes.

So, you thought &#39;Gabbar Singh Tax&#39; is a sheer bullshit. But then you thought of university economics. For politics, &#39;Gabbar Singh Tax&#39; is an intelligent theorem. It fetches votes. As I said earlier, economics is the best means to harness politics. Hence, no wonder if the &#39;Gabbar Singh Tax&#39; catchphrase enables the Congress and its new chief recover some of the lost grounds in Gujarat.

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Each time you watched Rahul Gandhi take to the stage during his Gujarat election campaigns and explain before a waiting crowd that the GST is nothing but 'Gabbar Singh Tax', you must have wondered what's wrong with the man.

Each time you watched Rahul Gandhi take to the stage during his Gujarat election campaigns and explain before a waiting crowd that the GST is nothing but 'Gabbar Singh Tax', you must have wondered what's wrong with the man. You must have got curious to know which school Rahul Gandhi got his economics lessons from. However, let me tell you he is perfectly all right and that he is got his lessons from the best school of a politician - the dusty by-lanes of Indian politics. Politics is all about reaching out to the masses and making an everlasting connect with them; it's a bonding made stronger with deft communication, apt vocabulary and noisy rhetoric. The greater your ability to connect with the rank and file of the profanum vulgus, the better is your chances in politics. Add a bit of theatrics and voila! You've got what it takes. After 17 or so defeats in successive elections, Rahul Gandhi now seems to have learnt the ropes. Many political observers and analysts believe that Rahul has found his tongue. He's discovered the art of communication, at least to the best of his limitations. 'Gabbar Singh Tax' serves the best example. GST brought with it two 'miseries' to the common people; the first, disruption in normal economic activities of the small traders and second, complexities. Close on the heels of demonetisation, GST brought another commotion in the life of the common man, especially small traders and businessmen. They've their experiences to believe GST is bad but the government has its data to prove it's good. In the scenario, a clever politician knows that theoretically speaking, GST can't be opposed. It can be defeated only through canards and polemics. A polemic of lies and derision is the best anecdote to constructive ideas. 'Gabbar Singh Tax' invented that polemic of lies which the disgruntled aam aadmi was looking for and Rahul Gandhi made the most of it. The masses were exhilarated at the description. Each time Gandhi twisted the microphone and uttered the phrase 'Gabbar Singh Tax', the crowd went berserk in jubilation. He knew he had given expression to the anger of the millions. He didn't know himself what it exactly meant. He need not, either. His job was done. No amount of pedantic discourse or academic description can destroy the effects of a 'Gabbar Singh Tax' narrative. Today, no one remembers what Arun Jaitley said to counter the Gabbar Singh jibe, though he said all those academically correct things. Yet, people only remember what Rahul said. And that's the art of making a connect. A good many people are disenchanted in some way or other and a section of media has worked overtime to prove that the government policies are anti-people. Mainstreaming the cash economy and forcing people to live in transparent glasshouses has its own challenges. The political wisdom says a politician must use the situation to the best of his abilities. Hence, the Congress has exploited the disenchantment of the masses to the best of its ability and fed on the ignorance of the people. Gandhi knows that the aam aadmi, like him, has no appetite for facts or analysis nor it believes in lengthy explanations. The common man needs off-the-shelf concepts, and few catchphrases, to describe his pent up emotions. The 'Gabbar Singh Tax', fits the bill precisely. In this political campaign, the government hit the hustings with facts, figures and analysis and it lost audience. The Congress hit the campaign with polemic and lies and it struck an instant chord with the masses. The media, always hungry for the catchphrases, multiplied the effect. In the post-truth politics, what matters more is perception and catchphrases do wonderful jobs in shaping perception. It may be a lie or bullshit is another matter. Politics, anyway, is never about teaching the truth. Nor it's about accountability. Misleading the masses is intelligent so long it fetches votes. And, Gandhi needs votes. So, you thought 'Gabbar Singh Tax' is a sheer bullshit. But then you thought of university economics. For politics, 'Gabbar Singh Tax' is an intelligent theorem. It fetches votes. As I said earlier, economics is the best means to harness politics. Hence, no wonder if the 'Gabbar Singh Tax' catchphrase enables the Congress and its new chief recover some of the lost grounds in Gujarat. (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Anatomy of the 'Gabbar Singh Tax'

Surat is the heart of diamond industry in India. An industry which remained politically inert in the past suddenly woke up to new tax regime succeeded by demonetisation exercise. Industry supports the reform goal but not the implementation process. Many say that Centre should have surveyed the diamond industry before making new rules for them. 
&nbsp; 
Unlike other industries, diamond sector is workers led industry as skill set remains central to the manufacturing process. On an average, a worker can start from 15,000 rupees and end up making 5 lakh a month all depending upon skill set he possesses. It is this skill set which revolted against demonetisation. Most of the workers preferred cash. It meant less taxes and no compliance. Owners were left baffled and sore. Many workers changed their master leading to closures. Those who could manage the cash retained the best and those who couldn&rsquo;t had to stop work on the floor. An industry where workers choose the owners, demonetisation tested the resolve of the owners to keep the talent in their nest. 
&nbsp; 
&ldquo;For the first-time owner worker conflict erupted in our industry. It was unprecedented. We had to run from pillar to post to manage the business,&rdquo; said Dinesh Navadiya, known diamond merchant. 
&nbsp; 
The workers had to be convinced of the benefits of the measure Prime Minister had undertaken. The mindset changed very slowly. Most of the workers come from rural areas with no personal history of banking. It also meant they had no knowledge of paperwork required for opening a bank account. With money going through the banking system and papers in place, they became eligible for loans. Many applied for Awas Yojans schemes too. It eventually benefitted them. 
&nbsp; 
But heartburn remains. Many owners privately admit that government banks did a bad job during demonetisation. &ldquo;Private banks did a better job. Infrastructure should have been in place for demonetisation,&rdquo; said Dinesh Navadiya. 
&nbsp; 
Surat&rsquo;s diamond industry is the processing centre of the precious stones in India. It imports 100 per cent of the raw material and exports 94 per cent of it. Only 6 per cent of the polished diamonds are sold domestically. It also does not enjoy a high profit margin. At maximum owners enjoy profit margins between 1 to 2 per cent. 
&nbsp; 
The pinch increased after GST. Unlike demonetisation whose effect was temporary, GST changed the way industry operated. It understood its benefits but was appalled at its implementation. It was this shock which provided muscle to the Congress in South Gujarat. 
&nbsp; 
Textile sector was even hit harder. Demonetisation had decreased their sales in the rural areas shrinking both production and consumption leading to jobless in small and medium scale industry. It was this combined resentment which streets witnessed in succeeding months. Diamond industry escaped the full wrath of GST as it was only manufacturing locally and exporting abroad whereas Textile Industry was not only manufacturing locally but also traded the rural areas where economy entirely depended on the cash. 
&nbsp; 
Even then there are major irritants. Industry wants B2B form to be done away with. It allows the government to impose interstate GST when goods are moved from one state to another independent of whether they are being sold or not. Traders crib that it adds to the cost. They argue that two other biggest hubs of diamond manufacturing, Israel and Belgium do not have such limitations. Traders also want 3 per cent GST done away on local consumption. On an average 25 per cent of the material has to be moved locally for processing and polishing because every owner doesn&rsquo;t possess all the high skill set workers. For example, if the import has a stock of 20 per cent of raw diamond which can only be shaped in oval and the owner has masters of squares and circle, the rest has to be processed in someone else&rsquo;s unit. On this government decided to levy 3 percent tax. Traders find it very unfair. With low percentage of profit, it adds to the cost. 
&nbsp; 
More than paper work adjustment, industry&rsquo;s major battle is with attitude. It is about compliance and taxation. Most of the owners are willing to give their share of Provident Fund and Employee Welfare Fund but the workers aren&rsquo;t. Many say that it becomes difficult to impose such policies on workers as they tend to move away. 
&nbsp; 
Though no one denies that GST has opened the gates for new export schemes, subsidies for machinery and better-priced loans but attitudes are a slow change. Implementation does remain a concern but they want the government to remember that it is a small and medium industry which generates jobs for a big chunk of Indian population and their convenience must be kept in mind. 
&nbsp; 
Modi has taken a risk to implement GST but no reforms are without risk. The results will show whether economic issues will remain on top or Gujarati asmita appropriated by Modi. Jury is still out on it.

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The Surat diamond industry which remained politically inert in the past suddenly woke up to new tax regime succeeded by demonetisation exercise

Surat is the heart of diamond industry in India. An industry which remained politically inert in the past suddenly woke up to new tax regime succeeded by demonetisation exercise. Industry supports the reform goal but not the implementation process. Many say that Centre should have surveyed the diamond industry before making new rules for them. Unlike other industries, diamond sector is workers led industry as skill set remains central to the manufacturing process. On an average, a worker can start from 15,000 rupees and end up making 5 lakh a month all depending upon skill set he possesses. It is this skill set which revolted against demonetisation. Most of the workers preferred cash. It meant less taxes and no compliance. Owners were left baffled and sore. Many workers changed their master leading to closures. Those who could manage the cash retained the best and those who couldn’t had to stop work on the floor. An industry where workers choose the owners, demonetisation tested the resolve of the owners to keep the talent in their nest. “For the first-time owner worker conflict erupted in our industry. It was unprecedented. We had to run from pillar to post to manage the business,” said Dinesh Navadiya, known diamond merchant. The workers had to be convinced of the benefits of the measure Prime Minister had undertaken. The mindset changed very slowly. Most of the workers come from rural areas with no personal history of banking. It also meant they had no knowledge of paperwork required for opening a bank account. With money going through the banking system and papers in place, they became eligible for loans. Many applied for Awas Yojans schemes too. It eventually benefitted them. But heartburn remains. Many owners privately admit that government banks did a bad job during demonetisation. “Private banks did a better job. Infrastructure should have been in place for demonetisation,” said Dinesh Navadiya. Surat’s diamond industry is the processing centre of the precious stones in India. It imports 100 per cent of the raw material and exports 94 per cent of it. Only 6 per cent of the polished diamonds are sold domestically. It also does not enjoy a high profit margin. At maximum owners enjoy profit margins between 1 to 2 per cent. The pinch increased after GST. Unlike demonetisation whose effect was temporary, GST changed the way industry operated. It understood its benefits but was appalled at its implementation. It was this shock which provided muscle to the Congress in South Gujarat. Textile sector was even hit harder. Demonetisation had decreased their sales in the rural areas shrinking both production and consumption leading to jobless in small and medium scale industry. It was this combined resentment which streets witnessed in succeeding months. Diamond industry escaped the full wrath of GST as it was only manufacturing locally and exporting abroad whereas Textile Industry was not only manufacturing locally but also traded the rural areas where economy entirely depended on the cash. Even then there are major irritants. Industry wants B2B form to be done away with. It allows the government to impose interstate GST when goods are moved from one state to another independent of whether they are being sold or not. Traders crib that it adds to the cost. They argue that two other biggest hubs of diamond manufacturing, Israel and Belgium do not have such limitations. Traders also want 3 per cent GST done away on local consumption. On an average 25 per cent of the material has to be moved locally for processing and polishing because every owner doesn’t possess all the high skill set workers. For example, if the import has a stock of 20 per cent of raw diamond which can only be shaped in oval and the owner has masters of squares and circle, the rest has to be processed in someone else’s unit. On this government decided to levy 3 percent tax. Traders find it very unfair. With low percentage of profit, it adds to the cost. More than paper work adjustment, industry’s major battle is with attitude. It is about compliance and taxation. Most of the owners are willing to give their share of Provident Fund and Employee Welfare Fund but the workers aren’t. Many say that it becomes difficult to impose such policies on workers as they tend to move away. Though no one denies that GST has opened the gates for new export schemes, subsidies for machinery and better-priced loans but attitudes are a slow change. Implementation does remain a concern but they want the government to remember that it is a small and medium industry which generates jobs for a big chunk of Indian population and their convenience must be kept in mind. Modi has taken a risk to implement GST but no reforms are without risk. The results will show whether economic issues will remain on top or Gujarati asmita appropriated by Modi. Jury is still out on it.

Diamonds are forever: Inside Surat's diamond industry

The police detained Congress workers&nbsp;today who were protesting against the Goods and Services Tax(GST) in Surat for carrying out a rally without official permission.

The workers were dressed as characters from the Bollywood movie &quot;Sholay&quot;.

They were detained by police for carrying air guns and not taking &quot;necessary permission&quot;&nbsp;from the authorities.

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<a href="https://twitter.com/hashtag/Gujarat?src=hash&amp;ref_src=twsrc%5Etfw">#Gujarat</a>: Members of Congress took out a protest against GST in Surat by dressing up as characters from &#39;Sholay&#39;; detained by police for carrying air guns, which resembled rifles &amp; carrying out rally without permission. <a href="https://t.co/wNR06HWZ3L">pic.twitter.com/wNR06HWZ3L</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/935445482955948032?ref_src=twsrc%5Etfw">November 28, 2017</a></blockquote>
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Police Inspector VJ Chaudhary of Salabatpura said: &quot;We are taking us with them and a team is also coming to take stock of the situation.&quot;

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They took out the rally without permission &amp; were also carrying air guns. We are taking us with them, we have also informed RO, a team is coming to take stock of the situation &amp; take further action: VJ Chaudhary, Salabatpura inspector <a href="https://t.co/ASlCdGqT1L">pic.twitter.com/ASlCdGqT1L</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/935446019252264960?ref_src=twsrc%5Etfw">November 28, 2017</a></blockquote>
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Congress vice-president Rahul Gandhi&#39;s had recently called GST &#39;Gabbar Singh Tax&#39; referring to the villain &quot;Gabbar&quot;&nbsp;in the 70s hit Bollywood film &quot;Sholay&quot;.

The police detained Congress members today who were taking out a rally to protest against Goods and Services Tax in Surat for having a rally without permission

The police detained Congress workers today who were protesting against the Goods and Services Tax(GST) in Surat for carrying out a rally without official permission. The workers were dressed as characters from the Bollywood movie "Sholay". They were detained by police for carrying air guns and not taking "necessary permission" from the authorities. #Gujarat: Members of Congress took out a protest against GST in Surat by dressing up as characters from 'Sholay'; detained by police for carrying air guns, which resembled rifles & carrying out rally without permission. pic.twitter.com/wNR06HWZ3L — ANI (@ANI) November 28, 2017 × Police Inspector VJ Chaudhary of Salabatpura said: "We are taking us with them and a team is also coming to take stock of the situation." They took out the rally without permission & were also carrying air guns. We are taking us with them, we have also informed RO, a team is coming to take stock of the situation & take further action: VJ Chaudhary, Salabatpura inspector pic.twitter.com/ASlCdGqT1L — ANI (@ANI) November 28, 2017 × Congress vice-president Rahul Gandhi's had recently called GST 'Gabbar Singh Tax' referring to the villain "Gabbar" in the 70s hit Bollywood film "Sholay".

Congress workers protest against GST dressed as 'Gabbar' in Surat

GST collections fell over 9% in the month of October.&nbsp;

Data put out by the government said GST collections fell to Rs 83,346 crore in October from over Rs 90,000 crore in each of the first three months since the tax was rolled out on July 1.&nbsp;&nbsp;

A finance ministry statement said the lower collections were because of the release of state and central GST from integrated GST (IGST), GST rate cuts, and the payment of GST based on self-declared tax returns.&nbsp;

News reports quoted industry sources as saying GST taxpayers may have expected the rate cuts and could therefore have &quot;staggered&quot; despatches to take advantage of the cuts.

GST collections&nbsp;date released by the government on Monday revealed that 95.9 lakh taxpayers had registered under GST till now and 50.1 lakh had filed returns in October till November 26, while 15.1 lakh were composition dealers who have been allowed to file returns on a quarterly basis. 
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Data put out by the government said GST collections fell to Rs 83,346 crore in October from over Rs 90,000 crore in each of the first three months since the tax was rolled out on July 1

GST collections fell over 9% in the month of October. Data put out by the government said GST collections fell to Rs 83,346 crore in October from over Rs 90,000 crore in each of the first three months since the tax was rolled out on July 1. A finance ministry statement said the lower collections were because of the release of state and central GST from integrated GST (IGST), GST rate cuts, and the payment of GST based on self-declared tax returns. News reports quoted industry sources as saying GST taxpayers may have expected the rate cuts and could therefore have "staggered" despatches to take advantage of the cuts. GST collections date released by the government on Monday revealed that 95.9 lakh taxpayers had registered under GST till now and 50.1 lakh had filed returns in October till November 26, while 15.1 lakh were composition dealers who have been allowed to file returns on a quarterly basis.

GST collections fall over 9% in October

The ratings agency Moody&#39;s upgraded India&#39;s sovereign credit rating from a BAA3 to a BAA2 on Friday.&nbsp;

The two-rung upgrade came after 13 years.&nbsp;

India was earlier upgraded to a BAA3 in 2004 -- the lowest investment grade.&nbsp;

Moody&#39;s said Friday&#39;s upgrade came about because of the Modi government&#39;s economic and institutional reform.&nbsp;

It cited the Goods and Services Tax, which turns India&#39;s 29 states into a single customs entity.&nbsp;

The GST is expected to push up productivity by removing barriers to inter-state trade.&nbsp;

Moody&#39;s also cited Aadhar, which it is hoped will lead to more effective direct-benefit transfers.&nbsp;

So what will the upgrade bring about?&nbsp;

A credit rating is a barometer of a country&#39;s monetary and regulatory environment.

The higher a country&#39;s rating, the greater the investment in that country should be.&nbsp;

So, simple -- the upgrade should lead to greater FDI inflow into the country.&nbsp;

And greater FDI inflow should lead to a lowering of the cost of capital.&nbsp;

Which in turn should lead to higher growth, since easier access to capital allows companies to borrow and transact more, and therefore grow more.&nbsp;

The upgrade should also push up sentiment in equity markets, thereby pushing up the sensex.&nbsp;&nbsp;

Remember also that the upgrade comes just after ratings agencies Standard &amp; Poor&#39;s and Moody&#39;s downgraded China&#39;s credit rating.&nbsp;

Which means that the money that left China after the downgrade could find its way to India.&nbsp;

The upgrade should lead to greater FDI inflow into the country

The ratings agency Moody's upgraded India's sovereign credit rating from a BAA3 to a BAA2 on Friday. The two-rung upgrade came after 13 years. India was earlier upgraded to a BAA3 in 2004 -- the lowest investment grade. Moody's said Friday's upgrade came about because of the Modi government's economic and institutional reform. It cited the Goods and Services Tax, which turns India's 29 states into a single customs entity. The GST is expected to push up productivity by removing barriers to inter-state trade. Moody's also cited Aadhar, which it is hoped will lead to more effective direct-benefit transfers. So what will the upgrade bring about? A credit rating is a barometer of a country's monetary and regulatory environment. The higher a country's rating, the greater the investment in that country should be. So, simple -- the upgrade should lead to greater FDI inflow into the country. And greater FDI inflow should lead to a lowering of the cost of capital. Which in turn should lead to higher growth, since easier access to capital allows companies to borrow and transact more, and therefore grow more. The upgrade should also push up sentiment in equity markets, thereby pushing up the sensex. Remember also that the upgrade comes just after ratings agencies Standard & Poor's and Moody's downgraded China's credit rating. Which means that the money that left China after the downgrade could find its way to India.

Moody's upgrades India's sovereign credit rating: What does that mean??

Stating that structural changes are needed in the Goods and Services Tax, Congress vice-president Rahul Gandhi on Saturday said he will reduce GST rate to just one slab of 18 per cent in 2019.

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India does not need a Gabbar Singh Tax. We want a true GST. Congress, along with the people of India, fought for and ensured reduction in items in 28% bracket. Next we will fight for one rate, with a cap at 18%. If BJP doesn&rsquo;t do it, Congress will.
&mdash; Office of RG (@OfficeOfRG) <a href="https://twitter.com/OfficeOfRG/status/929311443605864448?ref_src=twsrc%5Etfw">November 11, 2017</a></blockquote>
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Speaking at a rally in Gandhinagar, Raul Gandhi said, &quot;It`s a good thing that the Bharatiya Janata Party (BJP) government has slashed the tax rate from 28 percent to 18 percent for many products due to the pressure made by the Congress party and the people of India.&nbsp;

&quot;We are still not happy and won`t stop here. India doesn`t want five different types of taxes, we want one. There`s a need to make structural changes in the Goods and Services Tax (GST). In 2019, we will reduce GST rate to just one slab of 18 per cent,&#39;&#39; Gandhi said.

Earlier on Wednesday, while interacting with traders in Gujarat`s Surat, Congress vice-president said they (Congress) will reassess and restructure the Goods and Service Tax (GST), if they come to power at the Centre in the 2019 general elections.

&quot;We were against the implementation of GST because the Government`s version was not right. Eventually when Modi ji realised it was a mistake, he said Congress was also a part of it,&quot; Rahul said.

He further said that ruling government`s version of GST is not the actual one and accused the Centre of making the uniform tax reform &quot;complex&quot;.

&quot;GST is one tax reform not five tax. The Centre does not know the meaning of GST. They made the GST complex. We asked them for a simple version,&quot; he said.&nbsp;

Rahul further asserted that the Congress Party had cautioned the government about the drawbacks of implementation of the GST in the &quot;wrong way&quot;.&nbsp;

"It`s a good thing that the BJP government has slashed the tax rate from 28 percent to 18 percent for many products due to the pressure made by the Congress party and the people of India.

Stating that structural changes are needed in the Goods and Services Tax, Congress vice-president Rahul Gandhi on Saturday said he will reduce GST rate to just one slab of 18 per cent in 2019. India does not need a Gabbar Singh Tax. We want a true GST. Congress, along with the people of India, fought for and ensured reduction in items in 28% bracket. Next we will fight for one rate, with a cap at 18%. If BJP doesn’t do it, Congress will. — Office of RG (@OfficeOfRG) November 11, 2017 × Speaking at a rally in Gandhinagar, Raul Gandhi said, "It`s a good thing that the Bharatiya Janata Party (BJP) government has slashed the tax rate from 28 percent to 18 percent for many products due to the pressure made by the Congress party and the people of India. "We are still not happy and won`t stop here. India doesn`t want five different types of taxes, we want one. There`s a need to make structural changes in the Goods and Services Tax (GST). In 2019, we will reduce GST rate to just one slab of 18 per cent,'' Gandhi said. Earlier on Wednesday, while interacting with traders in Gujarat`s Surat, Congress vice-president said they (Congress) will reassess and restructure the Goods and Service Tax (GST), if they come to power at the Centre in the 2019 general elections. "We were against the implementation of GST because the Government`s version was not right. Eventually when Modi ji realised it was a mistake, he said Congress was also a part of it," Rahul said. He further said that ruling government`s version of GST is not the actual one and accused the Centre of making the uniform tax reform "complex". "GST is one tax reform not five tax. The Centre does not know the meaning of GST. They made the GST complex. We asked them for a simple version," he said. Rahul further asserted that the Congress Party had cautioned the government about the drawbacks of implementation of the GST in the "wrong way".

Next fight is for one rate, with cap at 18 per cent: Rahul on GST

The Congress today claimed credit for the the GST Council&#39;s decision to cut tax rates on 178 items of daily use, saying the government was forced to do so due to the pressure mounted by party vice-president Rahul Gandhi and the &quot;huge response&quot; his campaign had been receiving in poll-bound Gujarat.

Leading the charge against the government on the Goods and Services Tax (GST), Gandhi said the Congress would continue to fight for a 18-per cent cap on the highest GST slab instead of the current 28 per cent, and vowed that the party would get the job done &quot;if the ruling BJP doesn&#39;t&quot;.

He also reiterated that India needed a simple tax and not the &quot;Gabbar Singh Tax&quot; as he had been describing the tax regime to target the Modi government.

Congress general secretary in-charge of Gujarat, Ashok Gehlot told PTI that the GST Council yesterday decided to cut the tax rates due to the pressure mounted by Gandhi and the &quot;huge response&quot; he had been receiving in the poll-bound western state.

Gujarat, the home state of Prime Minister Narendra Modi and BJP president Amit Shah, has been under the BJP&#39;s rule for over two decades and the Congress is trying to oust it from power. Congress leaders, particularly Gandhi, have made the GST and demonetisation as key issues of their campaign.

Gehlot claimed the GST Council brought about the changes in tax rates with an eye on votes in Gujarat. The state goes to poll in two phases on December 9 and December 14.

&quot;It (BJP) is rankled by trepidation that Gujarat will slip off its hands. That&#39;s why the rates were cut. The Council did so because of the pressure Rahulji mounted and response his yatras in the state are getting,&quot; he said.

Congress&#39;s chief spokesperson Randeep Singh Surjewala termed the GST Council&#39;s move &quot;installment-based tinkering&quot; which he said underscored the &quot;chaos within and adhocism&quot; of the BJP-led central government.

Accusing Finance Minister Arun Jaitley and the government of &quot;paying lip service and creating havoc&quot;, Surjewala said the Congress was determined to make the tax regime &quot;flawless&quot;.

&quot;India needs a simple tax, not Gabbar Singh Tax. The Congress and people have got 28 per cent tax abolished on several items fighting for it. Our fight for 18 per cent cap with one rate will continue. If the BJP doesn&#39;t do it, the Congress will,&quot; Gandhi tweeted.

Surjewala demanded that petroleum products, real estate and electricity be brought under the ambit of the GST. He also called for reducing &quot;compliance burden&quot; of the GST and added that the textile sector was faced with deep stress due to &quot;distorted duty structure&quot;.

&quot;Adjournment and deferment, rather than decision, appear to be the &#39;way forward&#39; for this government.

&quot;None of these challenges have been addressed by the Council. This is owing to the sheer ineptitude and amateurish handling of the biggest tax reform by BJP the government,&quot; he added.

Congress leader Pawan Khera said that the credit should be given to Gandhi.

&quot;There was a pressure from Rahul Gandhi. The Gabbar Singh Tax went so much viral in Gujarat that the BJP did not know how to deal with it,&quot; Khera said.

He, however, added that much more needed to be done to extend the relief to the farming community as the central excise on fertilisers was 1.03 per cent before GST, but after the new taxation system came into force, the tax was increased to 5 per cent.

He said that the tax on agricultural equipment such as tractor was as high as 18 per cent.

The GST Council yesterday decided to reduce tax rate on items ranging from chewing gums to detergents -- to 18 per cent from current 28 per cent

The all-powerful council pruned the list of items attracting the top 28 per cent tax rate to just 50 from 228 previously.

The GST, implemented from July 1, has five tax slabs of 0 per cent, 5 per cent, 12 per cent, 18 per cent and 28 per cent.&nbsp;

Congress general secretary in-charge of Gujarat, Ashok Gehlot told that the GST Council decided to cut the tax rates due to the pressure mounted by Gandhi.

The Congress today claimed credit for the the GST Council's decision to cut tax rates on 178 items of daily use, saying the government was forced to do so due to the pressure mounted by party vice-president Rahul Gandhi and the "huge response" his campaign had been receiving in poll-bound Gujarat. Leading the charge against the government on the Goods and Services Tax (GST), Gandhi said the Congress would continue to fight for a 18-per cent cap on the highest GST slab instead of the current 28 per cent, and vowed that the party would get the job done "if the ruling BJP doesn't". He also reiterated that India needed a simple tax and not the "Gabbar Singh Tax" as he had been describing the tax regime to target the Modi government. Congress general secretary in-charge of Gujarat, Ashok Gehlot told PTI that the GST Council yesterday decided to cut the tax rates due to the pressure mounted by Gandhi and the "huge response" he had been receiving in the poll-bound western state. Gujarat, the home state of Prime Minister Narendra Modi and BJP president Amit Shah, has been under the BJP's rule for over two decades and the Congress is trying to oust it from power. Congress leaders, particularly Gandhi, have made the GST and demonetisation as key issues of their campaign. Gehlot claimed the GST Council brought about the changes in tax rates with an eye on votes in Gujarat. The state goes to poll in two phases on December 9 and December 14. "It (BJP) is rankled by trepidation that Gujarat will slip off its hands. That's why the rates were cut. The Council did so because of the pressure Rahulji mounted and response his yatras in the state are getting," he said. Congress's chief spokesperson Randeep Singh Surjewala termed the GST Council's move "installment-based tinkering" which he said underscored the "chaos within and adhocism" of the BJP-led central government. Accusing Finance Minister Arun Jaitley and the government of "paying lip service and creating havoc", Surjewala said the Congress was determined to make the tax regime "flawless". "India needs a simple tax, not Gabbar Singh Tax. The Congress and people have got 28 per cent tax abolished on several items fighting for it. Our fight for 18 per cent cap with one rate will continue. If the BJP doesn't do it, the Congress will," Gandhi tweeted. Surjewala demanded that petroleum products, real estate and electricity be brought under the ambit of the GST. He also called for reducing "compliance burden" of the GST and added that the textile sector was faced with deep stress due to "distorted duty structure". "Adjournment and deferment, rather than decision, appear to be the 'way forward' for this government. "None of these challenges have been addressed by the Council. This is owing to the sheer ineptitude and amateurish handling of the biggest tax reform by BJP the government," he added. Congress leader Pawan Khera said that the credit should be given to Gandhi. "There was a pressure from Rahul Gandhi. The Gabbar Singh Tax went so much viral in Gujarat that the BJP did not know how to deal with it," Khera said. He, however, added that much more needed to be done to extend the relief to the farming community as the central excise on fertilisers was 1.03 per cent before GST, but after the new taxation system came into force, the tax was increased to 5 per cent. He said that the tax on agricultural equipment such as tractor was as high as 18 per cent. The GST Council yesterday decided to reduce tax rate on items ranging from chewing gums to detergents -- to 18 per cent from current 28 per cent The all-powerful council pruned the list of items attracting the top 28 per cent tax rate to just 50 from 228 previously. The GST, implemented from July 1, has five tax slabs of 0 per cent, 5 per cent, 12 per cent, 18 per cent and 28 per cent.

Cong says credit for GST rate cuts goes to Rahul Gandhi

Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the panel on the Goods and Services Tax Network (GSTN), today said the rates on over 200 daily-use items are expected to come down from 28 per cent to 18 per cent at the GST Council meet tomorrow.

&quot;With a view to giving further relief to small taxpayers (businessmen) and consumers at large, it is expected that tax rates will be brought down from current 28 per cent to 18 per cent on over 200 items of daily use,&quot; he said before flying to Guwahati to participate in the GST Council meet.

Items likely to see the slash in tax rates are those used in every household, including sanitary ware, suitcase, wallpaper, plywood, stationery articles, watch, play instruments, among others, said Modi, who heads a five-member Group of Ministers (GoM) to monitor technology-related implementation issues of the GST.

The objective behind lowering tax on these items falling in the top slab is to give more relief to the small businessmen and consumers, he added.

Modi, who also holds portfolios of finance and commercial taxes in Bihar, said that he would raise the issues of giving more relief to small taxpayers (businessmen) at the Guwahati GST council meeting.

He said that he has held three separate meetings in past 10 days with the representatives of various trade and business bodies from different districts.

On the basis of opinion and suggestions received from various businessmen, trade representatives, the Bihar Deputy Chief Minister said he would raise the issue of simplifying HSN (Harmonized System of Nomenclature) code, invoice matching, the filing of returns at the meeting.

Modi said he would also raise the issue of filing of quarterly returns for all businessmen, reducing late fee for delay in filing returns from Rs 200 per day to Rs 50 per day besides the issue of bills generated for common consumers must include GST in Maximum Retail Price (MRP) itself

The objective behind lowering tax on these items falling in top slab is to give more relief to the small businessmen and consumers, Modi said.

Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the panel on the Goods and Services Tax Network (GSTN), today said the rates on over 200 daily-use items are expected to come down from 28 per cent to 18 per cent at the GST Council meet tomorrow. "With a view to giving further relief to small taxpayers (businessmen) and consumers at large, it is expected that tax rates will be brought down from current 28 per cent to 18 per cent on over 200 items of daily use," he said before flying to Guwahati to participate in the GST Council meet. Items likely to see the slash in tax rates are those used in every household, including sanitary ware, suitcase, wallpaper, plywood, stationery articles, watch, play instruments, among others, said Modi, who heads a five-member Group of Ministers (GoM) to monitor technology-related implementation issues of the GST. The objective behind lowering tax on these items falling in the top slab is to give more relief to the small businessmen and consumers, he added. Modi, who also holds portfolios of finance and commercial taxes in Bihar, said that he would raise the issues of giving more relief to small taxpayers (businessmen) at the Guwahati GST council meeting. He said that he has held three separate meetings in past 10 days with the representatives of various trade and business bodies from different districts. On the basis of opinion and suggestions received from various businessmen, trade representatives, the Bihar Deputy Chief Minister said he would raise the issue of simplifying HSN (Harmonized System of Nomenclature) code, invoice matching, the filing of returns at the meeting. Modi said he would also raise the issue of filing of quarterly returns for all businessmen, reducing late fee for delay in filing returns from Rs 200 per day to Rs 50 per day besides the issue of bills generated for common consumers must include GST in Maximum Retail Price (MRP) itself

GST on over 200 daily-use items will fall: Sushil Modi