The Hindu Editorial Analysis
We all are aware of the importance of reading The Hindu newspaper with the aspect of improving reading ability, easily comprehending paragraphs, getting updated with the current events, improving essay writing and many more. For a banking aspirant it becomes necessary to read editorials for vocabulary. In this article we are going to discuss the points of today’s editorials with practice questions and important vocabs.
A Useless try.
- Convened after a gap of 6 months the goods and service tax GST council on Saturday cleared what officials called a path breaking move to decriminalize certain offenses by taxpayers, with the higher Rs.2 crore threshold for initiating prosecutions, except in cases involving fake invoices.
- Aimed at reducing disputes and chances of taxpayers harassment when the stages are not too high, these changes will take time to materialize.
- The center intends to introduce these changes in the finance Bill of 2023-24 to be presented on February 1,2023 and state legislatures will have to amend their respective GST laws too.
- While industry believes the prosecution threshold could have been raised further, there is greater disappointment that the GST council sidestepped the broader solution to deal with rising disputes — the long pending move to set up appellate tribunals as envisaged at the launch of the new indirect regime five and a half years ago.
- To be sure, a report with recommendations on the functioning of these tribunals submitted by a group of ministers of the council was part of this meeting’s agenda,but for now,such disputes will continue to clog high courts.
- The council took up a handful of other items–a 5% levy in husk of pulses used as a cattle feed input was scrapped, while the tax rate on items such as fryums and sports utility vehicles was ‘clarified’.
- These minutiae apart, the larger takeaway is the outcomes not pursued– including the tribunal proposals, virtually half the agenda was abandoned and discussions were curtailed to a little under three hours.
- Finance Minister Nirmala Sitharaman said this was done as some States representatives had other ‘committed business attend to.
- This is most surprising as the December 17 date was notified well in advance.
- It is not clear if some States, otherwise vocal about their pending GST dues and reforms to improve their revenue share, sought any rescheduling, if the said Saturday did not suit them.
- What does the GST department do on Saturday?
- What does the center want to introduce in the finance Bill of 2023-24 ?
- What the Finance minister Nirmala Sitharaman said about the bill?
- Pursued- to follow somebody
- Envisaged- to think of something as being possible in the future
- Broader- including many different people
- Amend- to change something slightly in order to make it better
- Abandon- to leave somebody/something that you are responsible for, usually permanently