The open letters by chief ministers Jayalalithaa and Shivraj Singh Chouhan to the Prime Minister once again emphasise the formidable challenge of building a consensus between the Centre and the states on the Constitutional (Amendment) Bill for the Goods and Services Tax (GST). Even if the governments do reach an agreement, it is not a framework that would bring cheer to industry or serve the needs of the Indian economy in the 21st century. What is needed is an alternative framework, which is politically appealing and economically attractive.

Alternative framework needed to break political impasse on GST

Business Standard

The Shome Committee report is a triumph of democracy over tax bureaucracy. The Committee&rsquo;s recommendations to severely restrict the scope of GAAR, and to abolish tax on gains from transfers of listed shares are bold and far reaching. They are a breath of fresh air in an environment of despondency and gloom surrounding unprecedented retrospective and retrograde tax changes enacted in the last Budget.They establish supremacy of rule of law over indiscriminate tax bureaucracy. The Committee describes GAAR as &ldquo;an extremely advanced instrument of tax administration&rdquo;, meant to deter misuse or abuse of tax law through complex and contrived arrangements. However, without adequate safeguards, it could become an instrument of abuse in the hands of inapt tax officials, deterring voluntary compliance by law-abiding taxpayers.

Satya Poddar: Shome Committee sends out positive signal

One of the arguments put forward by the Finance Minister in defending taxation of Hutchison - Vodafone type transactions is that capital gains on the transactions may not be getting taxed anywhere and should be taxed in India as they arise from the assets located in India. This argument, if valid, could indeed be persuasive in defending the Budget 2012 proposals. However, the premise underlying this argument, that such income is taxed nowhere, is questionable. In fact, capital gains on shares represent income that has already been, or will be, taxed in the country where the corporate assets are located. They are not tax-free income, but after-tax corporate earnings.

Satya Poddar: Taxation of share capital gains in source countries questionable

One has to applaud the endorsement of the &lsquo;negative list&rsquo; concept for the taxation of services by the Empowered Committee of State Finance Ministers. It paves the way for simplified design of the goods and services tax (GST), as it would obviate the need for defining individual services being taxable.

States' conditions for approval of negative list tantamount to rejection

Four celestial events are anticipated in 2025 i.e, 2 solar eclipses and 2 lunar eclipses. While they will mostly be invisible in India, a stunning lunar eclipse in Sept 2025 will be witnessed by India

Annular Solar eclipse

New Delhi [India], December 13: The highly anticipated song from Jai Hind Jai Sindh promises to be an emotional tribute to the strength and global achievements of the Sindhi community following Partition. Celebrating their extraordinary journey, the song highlights how Sindhis have preserved their rich cultural heritage while achieving success across the world.

Sammy\'s Magic Cinema, adds a melodious patriotic song, with well known Sindhi names, for its movie Jai Hind, Jai Sindh

Bengaluru (Karnataka) [India], December 13: IIFL Capital Services Limited (formerly IIFL Securities Limited) today announced the unveiling of its state-of-the-art office in Bengaluru, dedicated to wealth management services for High Networth Individuals (HNIs) and Ultra High Networth Individuals (UHNIs). IIFL Capital Services is one of the largest wealth managers in India, with about $30 billion (Rs 2.5 lac crore) worth of assets under management, advice and custody.

IIFL Capital Unveils New Office in Bengaluru, Dedicated to Wealth Management Services for HNIs  &amp;  UHNIs

Ahmedabad (Gujarat) [India], December 13: Maruti Infrastructure Ltd (BSE - 531540) - a leading Infrastructure and Construction company of EWS Housing Projects and Urban Infra Projects has received the expression of Interest for strategic partnership and collaboration from MEINHARDT GROUP, Asia's Largest Privately Owned - Global Planning, Design, Engineering, Project and Construction Management Firm. This expression of Interest is regarding partnership for providing comprehensive and innovative solutions related to various Buildings, Industrial  &amp;  Infrastructure Projects, Sports  &amp;  Recreation.

Maruti Infrastructure Receives EOI for Strategic Partnership from MEINHARDT Group, Stock price rise 6 percent

Chennai (Tamil Nadu) [India], December 13: Star Health and Allied Insurance Company Limited, the first standalone health insurance company in India, today announced the launch of its revolutionary retail health insurance product, 'SUPER STAR'. This innovative policy offers a long-term policy for the retail health segment, combining advanced features and highly customisable covers to address the growing complexities of modern lifestyles, rising medical expenses, and unforeseen emergencies.

Star Health Introduces \'SUPER STAR\'- A Long-Term Retail Offering

Markets LIVE Updates: Benchmark Indian equity indices BSE Sensex and Nifty 50 were trading higher on Friday, after recouping the losses from the day's lows

Dalal Street, Stock Market, Market, Crash, Funds, up, Stock, Gain, Lost, decline, statistic, Crisis, Capital, BSE, NSE

Stock market crash: The Indian stock market crashed heavily on Friday, with the BSE's Sensex dropping 1,207 points or 1.48 per cent to its intraday low of 80,082

bear market, stocks, sensex, nifty, loss, growth, crash, index

At just 18 years old, Gukesh's triumph marks a historic milestone in chess, making him the youngest player to ever claim the World Chess Championship title.

D Gukesh, Gukesh

Latest news updates: Catch all the latest news updates from around the world here

Allu Arjun

Stocks to watch, Dec 13: From RIL to HDFC Bank, here is a list of stocks that will be in focus today

market, stocks, stock market trading, stock market

Trump and his supporters have argued that the system is being abused and that there should be tougher standards for becoming an American citizen

Donald Trump, Trump

Ahmad al-Sharaa, also known as Abu Mohammed al-Golani, has long sought to distance himself from his extremist roots as the 42-year-old leader of HTS, the group that ousted Syrian President Bashar Assa

Abu Mohammed al-Golani

If approved, P D Singh will succeed Zarin Daruwala, who is set to retire on April 1, 2025, after nearly a decade in the role

Stanard Chartered Bank, Standard Chartered

Reddit Answers is capable of retrieving information not just from posts but also from comments and discussion threads across Reddit

Reddit Answers

From YouTube channels in 29 languages to AI-powered learning tools, Google has partnered with NCERT, NPTEL, and non-profits to provide free access to education in India

google, google logo

Highlighting the historical presence of Hindus in Bangladesh, stating, "We are vanished from Afghanistan. We are vanished from Pakistan. This is the high time. If we are not saved now, we will be

Protest, Delhi Protest, Bangladesh Protest, Hindu Protest

Despite the growth slowdown, a rate cut-cycle is unlikely to start anytime soon

Policy

In the absence of meaningful private investment and job creation, India is slipping back into its pre-Covid-19 rut, and its economic czars are once again publicly refusing to acknowledge the slowdown

Gold

The Massachusetts Institute of Technology alleges that the essay, titled 'On Pacifism', could be interpreted as encouraging violent protests on campus

MIT University

Sitharaman said that intergenerational debt is mounting on countries, and it is important for the government and industry to work together to manage debt at the national and sub-national levels

Satya Poddar

Satya Poddar

Page 2 - Satya Poddar

Alternative framework needed to break political impasse on GST

Satya Poddar: Shome Committee sends out positive signal

Satya Poddar: Taxation of share capital gains in source countries questionable

States' conditions for approval of negative list tantamount to rejection

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2025 will see two solar, two lunar eclipses; check their dates, timings

Sammy's Magic Cinema, adds a melodious patriotic song, with well known Sindhi names, for its movie Jai Hind, Jai Sindh

IIFL Capital Unveils New Office in Bengaluru, Dedicated to Wealth Management Services for HNIs & UHNIs

Maruti Infrastructure Receives EOI for Strategic Partnership from MEINHARDT Group, Stock price rise 6 percent

Star Health Introduces 'SUPER STAR'- A Long-Term Retail Offering

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Stock Market LIVE: Sensex up 2,000 pts from day's low to 82,100; FMCG, Financials, Cons Dur lead

Sensex plunges 1200pts, Nifty below 24200; Why stock markets crashed today?

World Chess C'ship: 18-year-old Gukesh becomes youngest world champion

LIVE news: Allu Arjun arrested over stampede at Pushpa 2 screening in Hyderabad

Stocks to watch, Dec 13: RIL, HDFC Bank, JK Tyre, Zomato, TCS, NBCC, L&T