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Demonetization And Its Impact On Tax Collection

Arun JaitleyThe Reserve Bank has twice released its reports stating that the demonetized Notes of Rs.500 and Rs.1000 have been substantially deposited in the Banks. A widely stated comment has been that just because most of the currency came back into the Banks, the object of Demonetisation has not succeeded. Was the invalidation of the Non-deposited currency the only object of demonetization? Certainly Not… The larger purpose of demonetization was to move India from a Tax Non-compliant society to a compliant society. This necessarily involved the formalization of the Economy and a blow to the black money. How has this been achieved?

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Single Slab GST Is A Flawed Idea

Arun JaitleyIt has been one year since the country’s switchover to a new indirect taxation system - the Good and Services Tax. One single tax replaced seventeen taxes and multiple cesses imposed by the Central and the State Governments. This had obviously necessitated every assesse to file multiple returns, have an interface with multiple inspectors and assessing authorities, suffer the cascading effect of having to pay tax even on the tax component already paid, having to pay tax separately in every State when movement of goods took place, to suffer the inordinate delays of multiple checkpoints and obstacles, and being fed up with the taxation system devises measures on how to bypass the tax system.

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Sustaining Tradition Of Social Justice In India…

स्वतंत्र भारत के 70 सालों में सतत सामाजिक न्याय की परंपरा...More than 16 percent of our population comprises of the scheduled castes. Owing to a long history of social exclusion, a section of our society was not exposed to opportunities of personal growth and development. This section was called ‘Depressed classes’ by Babasaheb Ambedkar. Coming from the same social background Babasaheb was cognizant of the needs and challenges of the community. In course of his public life, Babasaheb scaled great heights of achievement. After being educated at institutions of eminence worldwide, he came back to homeland to work in the furtherance of interest of the community.

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