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New Income tax Code to be developed internally by CBDT, says Revenue SecretaryKejriwal to remain in judicial custody till Aug 8CCI approves combination involving Amazon Asia-Pacific, Frontizo, Appario, Haverl and CRPLUS economy grows by 2.8% in Q227 companies have cumulatively invested Rs 465 crore under PLI Scheme for IT HardwareCus - Adjudication proceedings initiated on the ground of 'illegal export' whereas seizure was on the belief that there is 'illegal import' - Clear lack of jurisdiction: HCIndonesia introduces golden visa programme to attract investmentCus - An assessee cannot be deprived of its justifiable money - Refund to be granted along with interest @8%, although Act provides interest @6% - Difference of 2% to be recovered from officers responsible and mention be made in their service records - Cost of Rs.1 lakh also payable: HCRailways deploys Kavach on 1465 Route km and 144 locomotives on South Central RailwayCus - It is settled law that Tribunal cannot travel beyond the scope of relief and the case made out in the show cause notice: HCHeavy rains batter Pune; 6 dead; Snafu at Mumbai AirportCus - RoSCTL Scheme - Right accrued pursuant to any law and/or Scheme in favour of the person cannot be denied merely due to any technical error and/or glitch: HC18.6 lakh candidates signed-up on 'FutureSkills PRIME' for Re-skilling of IT ManpowerST - Not only is the assessee a PSU but also if the tax had been paid on reverse charge basis, they would have been entitled to take credit - Net effect is the exercise is revenue neutral - Tribunal rightly set aside the penalty: HCSC Constitution Bench upholds rights of States to levy royalty on mineral taxGST - DRC-01 was not accompanied by SCN - Order passed - Violation of principles of natural justice - Orders set aside and matter remanded: HCAustralia notifies sanctions against Israel for West Bank violenceBudget 2024 plays unfair with property owners; redefines HNIs!Delhi HC imposes Rs 1 lakh fine for defaming judges on social mediaBudget 2024: A Comprehensive Perspective on GSTUS cautions tech start-ups on security threats from overseas investorsTaxonomy is not about taxesBudget for Vikasit BharatWill the Old Tax Regime be Consigned to A Margadarshak Role?

MESSAGE BOARD

   

The enormity (monstrosity) of GST lies in disruption of federal structure


Indirect Taxation is a flawed one

Indirect taxation is collecting tax indirectly from the ultimate consumer. It has an inflationary effect on the economy. Whether it is Central Excise, Service Tax, VAT or GST, it will put burden on the ultimate consumer. Tax should be ideally imposed on a person who has the capacity to pay. Whether a poor person who purchases Parle biscuit from a grocery shop, is having the capacity to pay the indirect taxes and whether it is right to impose such taxes on him? If GST revenue is going to be finally enjoyed by the State Government in which the goods is ultimately consumed, unless and until such State Government utilizes the funds for the welfare of its citizens, the tax amount is as good as a bad investment by the ultimate consumer. So, instead of indirect taxes like GST, Direct Taxation (Income tax)which depends on the income earned by each individual is the most ideal. Direct Taxation stops at the individual and does not create a supply chain. The entire State machinery can focus on earning revenue through Direct Taxation using the latest IT machinery + PAN combination which GST seeks to use (with lesser expenditure). Ultimately the person who is having the capacity to pay taxes will pay the taxes.

a r vishwanathan 03/11/2016

 

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