'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
It is important to clarify that availing of an exemption is neither evasion nor tax planning.
Pushing people to litigation is a major source of tax uncertainty.
The Congress filed a dissent note on eight provisions.
Despite finance minister's assurance, tax officials seem reluctant to take steps for tackling issues at stake
Simplicity will make the Budget investment-friendly
The benefits are common in many cases, but are also different in some other respects.
GST necessarily includes service tax, but VAT can only be on goods without including service tax
The Comptroller and Auditor General reports saw senior politicians, powerful ministers and top bureaucrats end up in jail. Thanks to those reports, public scams such as 2G, Coalgate and the Commonwealth Games became part of the popular discourse.
Central excise tariff remains complicated and should be simplified.
The thesis that the taxpayer has the right to be taxed the least amounts to saying that if he is faced with two exemptions, which are applicable to a particular commodity, the taxpayer can choose the one more beneficial to himself.
The environmentalists are doing genuinely good work to promote more favourable situation for the earth to survive the rampaging attack on ecology. But in the process one has to look for the correct method. The environmentalists advocate eco-tax and eco-subsidy to cope with pollution.
The tax base should comprehensively extend over all goods and services up to the final consumer point.
The best part of Budget 2009 is that it has made it very clear that GST will come in April 2010 and it will be a dual GST. The other good part of the Budget is that it has left the duty of customs, excise and service tax untouched.
From an Interim Budget for the purpose of vote-on-account, one does not usually expect much in regard to indirect taxes.
The argument about inverted import duty structures is just a red herring.
The most famous broom belongs to Harry Potter. The next most famous seems to be one of the Ministry of Finance.
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