Page 4 - Latest Updates on Tax Revenue
Union Budget 2020: Fake invoicing under GST a non-bailable offence
Sitharaman announced that the new GST return framework and e-invoicing would be implemented from April 1, to improve compliance and plug the tax revenue leakages
 "Union Budget 2020: Fake invoicing under GST a non-bailable offence")
Budget 2020: How will Sitharaman pull off Rs 2.1-trn disinvestment miracle?
The government has promised to raise Rs 120,000 crore via disinvestment, and an additional Rs 90,000 crore from sale of government equity in public-sector banks and financial institutions, in 2020-21
 "Budget 2020: How will Sitharaman pull off Rs 2.1-trn disinvestment miracle?")
Budget 2020: Tax revenue estimate for FY20 likely to be slashed 4-6%
This will be the second time that the projection will be changed for the current fiscal year
 "Budget 2020: Tax revenue estimate for FY20 likely to be slashed 4-6%")
Govt's fiscal woes likely to climb as gross spending to rise by 20%: Report
The total budgeted expenditure of the central government for 2019-20 is Rs 27.86 trillion.
 "Govt's fiscal woes likely to climb as gross spending to rise by 20%: Report")
Budgetary over-reach: There is a price for trying to do too much in Budgets
The larger economy suffers more than the central govt, as New Delhi is allowed to get away with behaving arbitrarily and then hiding the reality behind bogus numbers, writes T N Ninan
GDP to grow by 5.5% in FY21 but downside risks persists: India Ratings
The government has announced a slew of measures recently to prop-up the economy, but Ind-Ra believes they will come to aid only in the medium term
 "GDP to grow by 5.5% in FY21 but downside risks persists: India Ratings")
Share buybacks losing lustre as 20% tax bites; firms await relief in Budget
Experts blame the change in tax dynamics for the sharp drop in buybacks
 "Share buybacks losing lustre as 20% tax bites; firms await relief in Budget")
Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target
The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5% for any given year, provided there are justifications
 "Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target")
How should the government revive demand?
What happens when, with government expenditure unchanged at Rs 65 trillion, the FM decides to reduce the tax rate, mobilise less revenue and let the deficit widen by Rs 1 trillion?
 "How should the government revive demand?")
FY20 gross tax revenue likely to fall short by around Rs 2 trillion
FinMin is said to have shared assessment with 15th FC
 "FY20 gross tax revenue likely to fall short by around Rs 2 trillion")
After corporate tax cut, fiscal crisis reaches states' doorstep
The recent sentiment-boosting corporate tax cuts will cost the government Rs 1.45 trillion of gross tax revenue
 "After corporate tax cut, fiscal crisis reaches states' doorstep")
15th Finance Commission likely to cut devolution to states marginally
15th FC may also sequester Centre's defence, internal security capex from divisible pool
 "15th Finance Commission likely to cut devolution to states marginally")
Centre's tax revenue at Rs 13.2 trillion in FY19, missed target by 11%
The collection in 2017-18 was 98% of the revised target
 "Centre's tax revenue at Rs 13.2 trillion in FY19, missed target by 11%")
Centre hopes to mop up Rs 4.4 trillion from cess and surcharges in FY20
While an increase in cess and surcharges consequently denies states a higher share of taxes collected by the centre, such a revenue stream helps shore up the central government's coffers
 "Centre hopes to mop up Rs 4.4 trillion from cess and surcharges in FY20")
Unfair levy
UP's cow cess penalises people for govt's faults
 "Unfair levy")
For more tax revenue
The GST needs more clarity and ease of implementation
 "For more tax revenue")
