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The group of ministers (GoM) formed to suggest a future path on GST has a consequential decision to make. This decision concerns the future course of the compensation cess, which was imposed on certain items in the highest tax bracket to compensate state governments for revenue losses for the first five years after the new tax was introduced. The states have suggested merging the compensation cess with GST rates. Though this appears a sensible solution, the decision will require the GoM to take multiple variables into account. The top edit explains the options. Read it here
In other views:
Tamal Bandyopadhyay assesses the Reserve Bank of India’s order last week directing four of NBFCs to cease and desist from sanctioning and disbursing fresh loans. Read it here
Debashis Basu questions the popular narrative about India’s economic growth story. Read it here
Mihir Sharma explains the complexities of land and real estate markets and their relationship with economic development. Read it here
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 "UP CM Yogi Adityanath At Business Standard 'Samriddhi' Roundtable In Lucknow On Wednesday | Credit: BS Photo")
 "(From left) Rahees Singh; Ravindra Pratap Singh, UP Pollution Control Board; Awanish Kumar Awasthi, advisor to UP CM; Sharad S Chandak, SBI; and Mukesh Bahadur Singh, IACC, UP Chapter, at BS ‘Samriddhi' roundtable in Lucknow on Wednesday | BS Photo")
