There is much talk of the proposed simplification of India’s complex GST regime. Prime minister Narendra Modi in his Independence Day speech, said, "…The government will implement next generation GST reforms which will bring down tax burden on the common man."
Health insurance for individuals has been made exempt from Goods and Services Tax. GST has been removed from life insurance premium payments for individuals, as well. Both used to be charged GST at 18%. So, this represents major relief for individuals, this lowering of the cost of buying insurance by nearly a fifth, right? That magnitude of reduction in the cost of either life or health insurance is merely an illusion. The cost of insurance might come down somewhat, but definitely not by 18%.
India embraces its need for American intelligence and weapons to keep China at bay. At the same time, India does not want to be obliged to the US so much that it comes under its thumb. India is better off with a multipolar world, with multiple power centres.
According to GoI’s response to a question in Parliament, there have been 42,673 instances of input tax credit fraud, worth ₹1,66,241 cr, cumulatively over FY21 and FY25 (up to January for the last fiscal).
TK ARUN Visible rates have been cut, while rates whose impact is not directly observable by the consumer have gone up; indirect taxes have been made even more indirect. Most of us have heard the tale of the mouse that…
The Indian population is growing, and the country is demonstrating strong growth potential. In this scenario, a lack of financial inclusion can be one of the major challenges faced by the government.
The Fund of Funds for Start-ups (FFS), managed by the Small Industries Development Bank of India (SIDBI), was launched on January 16, 2016, under the Start-up India Action Plan to address critical gaps in India’s early-stage finance landscape. With an initial corpus of ₹10,000 crore, the scheme aims to foster innovation-driven enterprises by contributing to SEBI‑registered Category I and II Alternative Investment Funds (AIFs).