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  • Supreme Court questions the continuing relevance of two-child norms. The Court observed that falling fertility rates have weakened the population-control rationale behind laws disqualifying people with more than two children from contesting local body elections. It referred the issue to a larger Bench for consideration
  • Supreme Court declines to shift Tirupati laddu case outside Andhra Pradesh. The Court rejected a plea seeking transfer of the trial, despite arguments that political statements by Andhra Pradesh's Chief Minister and Deputy Chief Minister could affect the fairness of proceedings
  • Supreme Court transfers Azam Khan's fresh ED bail plea to Allahabad High Court. The apex court declined to consider the Samajwadi Party leader's bail request in a fresh Enforcement Directorate case and directed that it be listed before a division Bench of the High Court on November 16
  • Two killed in Delhi building collapse; contractor booked. Two bodies were recovered after a building collapsed in Chawri Bazaar. Delhi Chief Minister Rekha Gupta said the contractor had been booked and the concerned junior and assistant engineers suspended
  • Uttar Pradesh voter rolls show a 2.4-crore discrepancy. A difference of approximately 2.4 crore names has been reported between the state's panchayat and rural Assembly voter lists. The Election Commission has ordered the two sets of rolls to be matched
  • Gujarat announces 3% dearness allowance hike. The state government announced a three-percentage-point increase in dearness allowance for government employees and pensioners ahead of Diwali
  • Sensex and Nifty post their strongest single-day gains in months. The Sensex surged 2,008.61 points, or 2.60%, to close at 79,310.01, while the Nifty 50 climbed 576 points, or 2.40%, to 24,536.60. Financial and automobile stocks led the rally, supported by falling crude prices and renewed foreign investor buying
  • Maaya Rajeshwaran reaches WTA-level quarter-final. The 17-year-old Indian defeated Poland's Weronika Falkowska 6-4, 6-3, becoming the first Indian woman since Sania Mirza in 2012 to reach a quarter-final at a WTA Tour-level singles event
  • Tanvi Patri reaches Youth Olympics badminton final. The 15-year-old defeated Japan's Yuzuno Watanabe in the semi-final, assuring India of a medal and becoming the first Indian badminton player to reach the girls' singles final at the Youth Olympics
  • India beat Pakistan 3-2 in SAFF Championship. India defeated Pakistan in a closely contested match, having led 3-0 before conceding two late goals. The victory was reported as a significant result for India's second-string side
  • India beat Japan 4-1 to win a record sixth Asian Champions Trophy. India recovered from an early deficit to defeat Japan in the final at Mohali, extending its record as the tournament's most successful men's team
  • The Supreme Court issued notice to the Centre and the Election Commission on a petition challenging Section 16 of the Chief Election Commissioner and Other Election Commissioners Act, 2023, which grants the CEC and Election Commissioners protection from legal proceedings for acts performed in their official duties. The petition argues that such blanket immunity could leave citizens without an effective remedy for alleged wrongdoing by the Commission
  • The Supreme Court told voters whose names were deleted from Delhi's draft electoral rolls not to be apprehensive about seeking re-enrolment through Form 6, after the Election Commission assured it that such applicants would not be prosecuted merely because their names had appeared in earlier rolls
  • Congress leader Rahul Gandhi opened the party's campaign for the 2027 Punjab Assembly elections with an Insaaf rally in Sangrur, Chief Minister Bhagwant Mann's home district, accusing the AAP government of failing to control drugs, gangster violence and corruption. Congress president Mallikarjun Kharge outlined six commitments, including a drug-free Punjab, protection of farmers, employment for young people and action against corruption
  • Rahul Gandhi accused the AAP government of running Punjab through a remote control from Delhi and questioned Bhagwant Mann's ability to tackle drug abuse, making personal allegations about the Chief Minister's conduct during their time together in Parliament
Stock markets on fire due to US results, Sensex gains 2008 points to reach its highest level in 8 months
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GST Is No Longer Work In Progress

By Linus Garg
First publised on 2022-04-01 13:16:59

About the Author

Sunil Garodia Linus tackles things head-on. He takes sides in his analysis and it fits excellently with our editorial policy. No 'maybe's' and 'allegedly' for him, only things in black and white.

There is a contradiction in the Indian economy as demand for goods and services is still suppressed but the same is not reflected in GST collections. In March, all previous records were broken with a collection of Rs 142095cr. The previous high was Rs 140986cr in January this year. For the last six months, GST collections have been Rs 1.30 lakh crore or more. In FY 21-22, an average of Rs 1.10 lakh crore was collected in Q1, Rs 1.15 lakh crore in Q2, Rs 1.30 lakh crore in Q3 and Rs. 1.38 lakh crore in Q4. The highest GST was collected in Maharashtra. Among bigger states, West Bengal and Telangana were laggards, showing just 2% growth year-on-year in March 2022.

Last month, the breakup of collection was: CGST Rs 25830cr, SGST Rs 32378cr and IGST Rs 74470cr including Rs 39131 on imports. Rs 9417cr were collected as cess out of which Rs 981cr was on imports. The Centre also settled Rs 29,816 crore to CGST and Rs 25,032 crore to SGST from IGST as regular settlement. It also settled Rs 20000cr on ad-hoc basis in the ratio of 50:50 between Centre and states. A sum of Rs 18252cr was released to states/UTs as GST compensation.

A finance ministry press release said that efforts by the GST Council to rationalize the rate structure to correct inverted duty structure, along with economic recovery, anti-evasion activities, especially action against fake billers have been contributing to the enhanced GST collections. There is no doubt that the GST Council has plugged many loopholes and it has resulted in better compliance and better collections. The states have also become quieter since revenues are now much more and they are being adequately compensated. The GST Council has done well to take early and firm decisions to remove the work-in-progress tag from the one nation, one tax initiative and make it a service that is delivering excellent results, both in ease of doing business and in tax collections.

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