Shine india monthly magazine

Shine india monthly magazine

Shine india monthly magazine Published this articl page no  70 An overarching legal fiscal framework is required which will provide for budgeting accounting and audit standards to be followed at all levels of government. Tax capacity  Focus should be on broadening the tax base streamlining tax rates and increasing capacity and expertise of tax administration in all tiers of the government. GST Implementatio n  Commission highlighted some challenges with the implementation of the Goods and Services Tax (GST). These include large shortfall in collections as compared to original forecast high volatility in collections accumulation of large integrated GST credit glitches in invoice and input tax matching and delay in refunds.  Commission observed that the continuing dependence of states on compensation from the central government (21 states out of 29 states in 201819) for making up for the shortfall in revenue is a concern.  It suggested that the structural implications of GST for low consumption states need to be considered. Financing of securityrelated expenditure  The ToR of the Commission required it to examine whether a separate funding mechanism for defense and internal security should be set up.  In this regard the Commission intends to constitute an expert group comprising representatives of the Ministries of Defense Home Affairs and Finance which will study proposed measures submitted by the Ministry of Defense in this regard Shine india monthly magazine buy.

Shine india monthly magazine