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GST Council decides to extend compensation cess on luxury goods, tobacco beyond June 2022: Sitharaman

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The 42nd edition of Goods and Services Tax Council meeting was held via video conferencing on October  5, 2020. The meeting concluded with the government agreeing to extend the cess on taxes on luxury goods including cars and tobacco products beyond 2022.

Levy of Compensation Cess to be extended beyond the transition period of five years beyond June, 2022, for such period as may be required to meet the revenue gap. Further details to be worked out, the ministry said in a statement.

The central government, already facing a shortfall in tax receipts, has asked the states to borrow up to 1.1 lakh crore ($15.05 billion) from the market in the current fiscal year ending in March 2021, as the surcharge collections would not be sufficient to compensate them.

The finance minister Nirmala Sithraman said compensation cess collected this year amounting to about 20,000 crore will get disbursed to all states by tonight.

The Centre in August gave two options to the states to borrow either Rs 97,000 crore from a special window facilitated by the RBI or Rs 2.35 lakh crore from the market.

While the BJP ruled states and other allies had, till mid-September opted to borrow 97,000 crore to meet the GST revenue shortfall in the current fiscal, most opposition ruled states including Kerala, Punjab, Delhi, Telangana, Chhattisgarh, and Tamil Nadu rejected the Centre’s proposal of borrowing to meet the shortfall. 

10 states demand that full compensation should be paid to the states during the current year as per clauses in the law and centre should borrow, said Thomas Issac, finance minister of Kerala, referring to the central government.

Briefing reporters after the GST meeting, Sitharaman said the GST Council has taken up the long-pending issue of Integrated Goods and Services Tax. Earlier there was no formula for devolution of Integrated Goods and Services Tax (IGST), which had resulted in several anomalies in its distribution, she said.

The panel, which decides on tax rates and structure after 17 central and state taxes such as excise duty and VAT were subsumed into Goods and Services Tax (GST), will meet again on October 12 to thrash out the state compensation issue, Union Finance Minister Nirmala Sitharaman added.

2024 Lok Sabha Elections

PM Modi calls for a strong government, says even enemies think 100 times before doing anything

PM Modi pointed out that Pakistan had been troubling India for 70 years and it had bombs in its hands. But today the situation has changed and it has begging bowl in its hands. He said when there is a strong government, enemies tremble

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PM Modi calls for a strong government, says even enemies think 100 times before doing anything

Prime Minister Narendra Modi addressed an election rally in Haryana’s Ambala on Saturday and said India’s enemies think 100 times before doing anything against the country when there is a strong government at the Centre. Haryana, which has a total of 10 Lok Sabha seats, will vote in the 6th phase on May 25. In 2019 elections BJP claimed victory in all 10 seats.

PM Modi pointed out that Pakistan had been troubling India for 70 years and it had bombs in its hands. But today the situation has changed and it has begging bowl in its hands. He said when there is a strong government, enemies tremble. Addressing the election rally at Ambala the prime minister asked if a weak government could have changed the situation in Jammu & Kashmir? He recalled the times when there was a Congress government and brave mothers of Haryana used to be worried day and night. He said it has been 10 years now and all of that has stopped.

PM Modi recounted BJP government’s achievements and said they had demolished the wall of Article 370 and Kashmir started moving on the path of development. The prime minister said that a total of 17 days remain to go for 4th June.  He further added that until now in 4 phases of elections, Congress and the INDI Alliance, chaaron khaane chitt ho chuke hain. He said whatever tactics the INDI Alliance used for the country have all been beaten by the public itself.

Addressing the election rally PM Modi said Haryana is a state which has patriotism in its veins and knows anti-national forces very well. The prime minister guaranteed to the people that their dreams are his resolution. PM Modi said there are 4 pillars of Viksit Bharat – poor, youth, women and farmers and he wants to strengthen all these pillars in such a way that the nation becomes strong.

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2024 Lok Sabha Elections

Mallikarjun Kharge accuses PM Modi of inciting people and dividing society through his election speeches

Kharge said no prime minister before Modi has ever indulged in inciting people like he has been doing. He said the prime minister speaks about democracy repeatedly but does not adhere to the tenets of democracy.

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Congress president Mallikarjun Kharge on Saturday attacked Prime Minister Narendra Modi for inciting people and dividing society through his election speeches. Kharge was addressing a press conference of the INDIA bloc, where Shiv Sena (UBT) president, Uddhav Thackeray NCP (SP) chief Sharad Pawar and other leaders were present.

Kharge said no prime minister before Modi has ever indulged in inciting people like he has been doing. He said the prime minister speaks about democracy repeatedly but does not adhere to the tenets of democracy. Responding to PM Modi’s statement that the Congress will bulldoze the Ram mandir in Ayodhya and also restore Article 370 if the INDIA bloc is voted to power Kharge said, they have never used a bulldozer on anyone. The Congress president said PM Modi has the habit of lying and inciting people about things which Congress will never do or the things that are impossible to be implemented.

Kharge further added that he is not answerable to Modi and the Congress will implement what they have promised in their election manifesto. He accused PM Modi of creating divisions wherever he went he tries to create division, speaks of dividing society. Kharge further added that PM Modi had described the Congress manifesto as Muslim League manifesto, but now he is calling it as a Maoist manifesto.

The Congress President assured that reservation has been enshrined in the Constitution which will continue and nobody can touch it. Speaking at the press conference Thackeray said, Achche din are coming from June 4 (when Lok Sabha election results will be declared) when INDIA bloc-led government will come to power at the centre. Thackeray pointed out PM Modi calls Shiv Sena (UBT) as the nakli (fake) Shiv Sena, and there is a possibility that tomorrow he may call RSS as nakli Sangh.  

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India News

Delhi Police arrest Bibhav Kumar for allegedly assaulting AAP MP Swati Maliwal

In her complaint, Swati Maliwal accused Arvind Kejriwal’s personal assistant of repeatedly slapping her and kicking her in the stomach and pelvic area when she went to the Delhi Chief Minister’s residence on May 13.

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The Delhi Police on Saturday arrested Bibhav Kumar, aide and former personal secretary of Delhi CM Arvind Kejriwal in connection with the alleged assault of AAP MP Swati Maliwal. The development comes 2 days after Delhi Police registered a case against Kumar following a complaint by Maliwal. In her complaint, Maliwal accused Arvind Kejriwal’s personal assistant of repeatedly slapping her and kicking her in the stomach and pelvic area when she went to the Delhi Chief Minister’s residence on May 13.

On Saturday, AAP minister Atishi claimed the BJP made Swati Maliwal file the FIR using an old ACB case as leverage. She said Anti Corruption Bureau of the BJP has filed a case against Swati Maliwal regarding the illegal recruitment of contractual employees in Delhi Commission for Women. A chargesheet has been filed and the time of conviction is coming and the AAP party said that it believes that Swati Maliwal is being included in the conspiracy by using this case. Atishi said how the entire machinery of BJP, from Delhi Police to the MHA is working, was seen yesterday in Tis Hazari Court.

On Friday, the Delhi Police took Swati Maliwal to the Delhi chief minister’s residence to recreate the crime scene. Her statement was recorded before a magistrate at the Tis Hazari court. A counter-complaint has been filed by Bibhav Kumar with the Civil Lines police station in which he alleged that Maliwal had forcefully and unauthorised entered the Delhi CM’s residence.

 He also claimed that the former Delhi Commission for Women chairperson tried to create a ruckus and assault him. Kejriwal’s aide also claimed that the Rajya Sabha MP intended to harm the AAP chief and he strongly objected. Bibhav Kumar said a copy of the FIR has been sent to all the media houses by the BJP but BJP’s police are saying that they cannot give it to the accused.

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