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Rejig needed in GST rates: SecyHasmukh Adhia

Rejig needed in GST rates: Secy

Adhia: GST will take a year to stabilise23 Oct 2017 | 2:46 AM

NEW DELHI:Some rejig in the GST rate structure is required to reduce the burden on small and medium businesses, Revenue Secretary Hasmukh Adhia has said.

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New Delhi, October 22

Some rejig in the GST rate structure is required to reduce the burden on small and medium businesses, Revenue Secretary Hasmukh Adhia has said.

The Goods and Services Tax (GST), which amalgamates more than a dozen Central and state levies like excise duty, service tax and VAT, will take about a year to stabilise, he said.

“There is need for some rejig in rates... it is possible that some items in the same chapter are divided. There is a need for harmonisation of items chapter-wise and wherever we find there is a big burden on small and medium businesses and on common man, if we bring them down, there will be better compliance,” Adhia said.

Nearly four months since its introduction, the new indirect tax threw up teething troubles and compliance issues, which the GST Council — the highest decision-making body of the new regime — has addressed through several rounds of changes, he said.

Adhia, however, said the rejig would require some calculations by the fitment committee, which will decide which items need a rationalisation of rate under the GST regime, which kicked in from July 1. The GST Council has already cleared an approach paper for items to be considered for rationalisation but it is not binding and the “council can always make deviations from the paper”.

“We are very keen to do it as early as possible; it depends on how much time the fitment committee takes to work on it. They need data, calculate revenue loss. They need various comparisons. But harmonisation has to be done,” he said.

The 23rd meeting of the GST Council, to be chaired by Union Finance Minister Arun Jaitley and comprising representatives of all states, will be held in Guwahati on November 10.

When asked how much time it will take to stabilise the GST system, Adhia said: “It will take one year. Because it is a new system for everybody... There has been a complete overhauling of the tax system in GST, so one year is needed.”

“If you see the experience of VAT, there was opposition for one year. People were on streets because nobody knew what VAT is, the last fellow was only paying sales tax. It was more opposition that time than this,” he said.

Introduced in 2005, VAT replaced the earlier sales tax systems. VAT was a tax on sale or purchase of goods within a state and was levied by state governments. — PTI

PM: Congress  has no right to question EC

PM: Congress has no right to question EC

23 Oct 2017 | 2:33 AM

VADODARA:Prime Minister Narendra Modi today hit out at the Congress for questioning the Election Commission for not announcing the poll schedule for Gujarat along with Himachal Pradesh.

Sonia bends on ‘1 ticket for family’,  Virbhadra son in fray

Sonia bends on ‘1 ticket for family’, Virbhadra son in fray

23 Oct 2017 | 2:33 AM

NEW DELHI:The Congress today released the third and final list for the Himachal Pradesh elections, naming Chief Minister Virbhadra Singh’s son Vikramaditya as the party candidate from Shimla-Rural.

Banks to match original IDs in cash dealing

Banks to match original IDs in cash dealing

23 Oct 2017 | 2:33 AM

NEW DELHI:The government has made it mandatory for banks and financial institutions to check the original identification documents of individuals dealing in cash above the prescribed threshold, to weed out the use of forged or fake copies.

Blogger’s death casts shadow over Malta

Blogger’s death casts shadow over Malta

23 Oct 2017 | 2:35 AM

VALLETTA :Daphne Caruana Galizia posted two items last Monday on her popular blog, one ridiculing Malta’s Opposition leader for having rounded shoulders, the other denouncing a government official as a “crook”.

50 suicides in two months, coaching factories under lens

50 suicides in two months, coaching factories under lens

23 Oct 2017 | 2:36 AM

HYDERABAD:Students from the two Telugu states of Telangana and Andhra Pradesh have been consistently among the toppers securing seats in IITs and other national institutes.

Dogra dynasty scion quits PDP over ‘divisive’ policies

Dogra dynasty scion quits PDP over ‘divisive’ policies

23 Oct 2017 | 2:33 AM

JAMMU:Upset over the “anti-Jammu” policies of the Mehbooba Mufti-led coalition government in Jammu and Kashmir, Vikramaditya Singh, the Dogra dynasty scion, today resigned from the Peoples Democratic Party (PDP).


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Economy on right track: PM

Economy on right track: PM

23 Oct 2017 | 2:37 AM

AHMEDABAD:Prime Minister Narendra Modi today launched a scathing attack on the Congress, accusing it of strangulating state’s growth even as he claimed that the country’s economy had “come back on the right track” after the BJP government came to power at the Centre.

CITY FOCUS

10 months on, Mohali ISBT a non-starter

10 months on, Mohali ISBT a non-starter

23 Oct 2017 | 2:00 AM

MOHALI:Almost 10 months after its inauguration with much fanfare, Baba Banda Singh Bahadur ISBT at Phase VI, a dream project of former deputy chief minister of Punjab Sukhbir Badal, has been a complete fiasco.

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Employees on unsanctioned posts may face salary freeze

23 Oct 2017 | 2:04 AM

CHANDIGARH: This month’s salary of thousands of policemen, besides employees in the civil secretariat and the Health Department is set to be withheld as the Finance Department has found that a substantial number is working against unsanctioned posts.

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Actual cleaning, not clean chits, needed

22 Oct 2017 | 8:12 PM

Responding to Opposition charges of shielding Power and Irrigation Minister Rana Gurjit Singh in the sand mining case, Chief Minister Capt Amarinder Singh has cited the clean chit given to the industrialist-politician by the Justice Narang Commission.

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Row over Rs 125-cr dues has sewa kendras in doldrums

23 Oct 2017 | 2:04 AM

CHANDIGARH: Even as the Punjab Government is contemplating to rationalise sewa kendras to bring down the running costs, uncertainty looms over their functioning as the operator running these centres has sought dues of over Rs 125 crore from the government.

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Cong to raise canal issue

Cong to raise canal issue

23 Oct 2017 | 12:07 AM

CHANDIGARH: Former Chief Minister Bhupinder Singh Hooda has said the Congress legislators will bring adjournment motions on the scrapping of the Dadupur-Nalvi canal project, the collapse of law and order in the state and the issues being faced by bajra farmers in the Assembly session beginning tomorrow.

No time to prepare Cong manifesto, says Bali

No time to prepare Cong manifesto, says Bali

23 Oct 2017 | 12:13 AM

SHIMLA: With barely a fortnight left for the polling on November 9, the Election Manifesto Committee of the Congress is yet to meet even once and to make matters worse Transport Minister GS Bali, who is its Convener, has categorically stated that he has no time to draft the document.

New road to shorten Hemkund Sahib trek

New road to shorten Hemkund Sahib trek

23 Oct 2017 | 12:06 AM

DEHRADUN: The pilgrimage to Hemkund Sahib in the Chamoli district of Uttarakhand will no more include an arduous 16-km trekking stretch as the authorities are all set to construct a road till Bhyundur considerably reducing this distance.

PM Abe on track for big win

PM Abe on track for big win

23 Oct 2017 | 1:32 AM

TOKYO:Japanese Prime Minister Shinzo Abe’s ruling bloc was headed for a big win in Sunday’s election, bolstering his chance of becoming the nation’s longest serving premier and reenergising his push to revise the pacifist constitution.

Now, buy NSC, MIS from banks

Now, buy NSC, MIS from banks

21 Oct 2017 | 12:14 AM

NEW DELHI: To encourage savings, the government has allowed banks, including top three private sector lenders — ICICI Bank, HDFC Bank and Axis Bank, to accept deposits under various small savings schemes such as National Savings Certificate (NSC), recurring deposits and monthly income scheme (MIS).

NoEnding their 10-year wait for continental triumph, India beat a gutsy Malaysia 2-1 to clinch their third Asia Cup hockey title in Dhaka on Sunday. PTI

Undisputed Asian champions

23 Oct 2017 | 2:02 AM

DHAKA:India ended their 10-year wait for a continental triumph when they beat a gutsy Malaysia 2-1 in a nail-biting final to clinch their third Asia Cup hockey title here today.

No

Eight medals for India at Balkan boxing

23 Oct 2017 | 2:02 AM

SOFIA:The India’s junior women boxers claimed eight medals, including four gold, in the Balkan International Boxing Championship, making India the most successful team in the event.

No

Brazil beat Germany, Spain outplay Iran to reach semis

23 Oct 2017 | 2:02 AM

KOLKATA:Paulinho’s stunning second-half strike helped three-time champions Brazil script a memorable come-from-behind 2-1 victory over European heavyweights Germany in the FIFA U-17 World Cup quarterfinals here on Sunday.

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Options after BAMSCareer Hotline Pervin Malhotra

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