Reduce VAT on fuel to control prices in national interest: Modi to states

 

Dropping the hammer on Opposition-controlled states, Prime Minister Narendra Modi on Wednesday said a few states didn't diminish VAT on petroleum and diesel in spite of the extract obligation cut by the Center last November and had done "foul play" to individuals by not moving the advantages of the transition to them.

Talking at a communication with boss priests on the arising COVID-19 circumstance in the country, Modi said he needed to hail a different issue of the difficulties being looked by individuals because of the worldwide circumstance.

"The present circumstance of war which has emerged, has impacted the store network, and in such a climate, the difficulties are expanding step by step," Modi said in a clear reference to the Russia-Ukraine struggle.

"This worldwide emergency is bringing many difficulties. Experiencing the same thing, it has become basic to additional improve the soul of agreeable federalism and coordination between the Center and states," he said.

Hailing the issue of exorbitant costs of petroleum and diesel, Modi said the Center had marked down extract obligation to lessen the weight of costs of petroleum and diesel on individuals last November....READ MORE

UP govt to crack down on tax evasion, eyes over Rs 1.4-trn revenue in FY20

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Uttar Pradesh government will crack down on Goods and Services Tax (GST) evaders to improve its tax and non-tax revenue collection.
The state is targetting a tax mop-up of Rs 1.4 trillion in the current financial year, 4.4 per cent higher than the revised budgetary estimates of Rs 1.34 trillion in 2018-19.Chief Minister Yogi Adityanath has asked the commercial tax department to employ technology tools to identify tax evaders for taking action. In a review meeting held in Lucknow recently, he underlined that UP was the largest consumer state and, as such, it should top the GST collection tally as well.
He directed the state taxman to take "effective steps" to improve the state tax collection by rooting out chronic tax evasion, and noted that a bigger GST kitty would boost state revenues and provide greater leverage to the government to invest in public welfare schemes.
During April-July 2019, UP tax revenue, comprising GST, Value Added Tax (VAT), excise, stamp and registration, transport, energy and land revenue heads, stood at Rs 41,202 crore. Similarly, the state clocked a non-tax revenue of Rs 1,982 crore during the first 4 months of the current financial year under the heads of mining, minerals, irrigation, forest and wildlife, police, public works department (PWD), housing, and employment, etc.

Adityanath also exhorted the excise department to pull up its socks for posting higher excise revenue in the current financial year. Meanwhile, the CM directed the transport department to develop bus terminals on the pattern of airports, so that they could be harnessed for commercial use and to boost income.During 2019-20, UP has projected total revenue receipts of more than Rs 3.91 trillion, including tax and non-tax revenue, both emanating from state collection and its share from the tax and non-tax revenue of the Centre...Read More