Retrospective taxation – Vodafone case

Source- The Hindu Syllabus- GS 3- Role of external state and non-state actors in creating challenges to internal security. Context– The Vodafone Group has won one of the most high-stakes legal battles involving a foreign investor and the Indian state under international law. The retrospective taxation was in violation of the BIT and the United Commission on International Trade… Continue reading Retrospective taxation – Vodafone case

GST Compensation disagreement between the Centre and the States

Source- The Hindu Syllabus- GS 3- Government Budgeting. Context- The onus would be on Centre to resolve this impasse with regard to compensation cess of GST reforms. What is GST compensation? The Centre is obliged to pay to the States, for a period of five years, compensation for revenue shortfalls in return for their having ceded the power… Continue reading GST Compensation disagreement between the Centre and the States

India’s Tax Charter

Source: Indian Express Syllabus: GS3: issues relating to Planning, Mobilization of Resources Context: In the wake of pandemic and slowdown in the economy, tax system needs efficiency in case selection and consistency in assessment. Need of efficient tax system: To improve tax collection:An economic contraction this year will deal a severe blow to tax collections. Rising uncertainty… Continue reading India’s Tax Charter

GST compensation Standoff

Source- The Hindu Syllabus- GS 3- Government Budgeting Context- Differences of opinion have emerged between Centre and states at the 41st Goods and Service Tax [GST] Council meeting over compensation deficit. GST- Goods and Services Tax, is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. GST is… Continue reading GST compensation Standoff