Taxation
GST in its current sub-ideal form also can deliver significant changes
Even in its current form, the GST reforms can deliver significant efficiency and productivity improvements by moving towards a single market across India, says Religare Capital report
 
With barely a week left for the Winter session of Parliament to end, hopes of the Constitutional Amendment Bill on the goods and service tax (GST) getting the Rajya Sabha nod have remained fickle. Although the amended Bill has several distortionary features, like additional 1% levy, large exclusions from base, rate structure and exemptions for petroleum products, even in its sub-ideal form, the GST Bill has potential to deliver significant efficiency and productivity gains, says a report.
 
According to a research note from Religare Capital Markets Ltd, the GST reform, which is the extension of the value added tax (VAT) that was implemented in the mid-2000s, is heralded as the great hope for simplifying the intricate web of indirect taxes in India.

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December 16 gang-rape: Order on juvenile convict reserved
The Delhi High Court on Monday reserved its order on BJP leader Subramanian Swamy's plea against the release of the "unreformed" juvenile convict in the December 16, 2012, gang-rape.
 
The centre sought extension of his stay in observation home till all aspects including, mental health and post-release rehabilitation plan are considered by the authorities.
 
A division bench of Chief Justice G. Rohini and Justice Jayant Nath was told by the Additional Solicitor General (ASG) Sanjay Jain, appearing for central government, that several mandatory requirements were missing from post-release rehabilitation plan of juvenile convict.
 
Jain told the bench that as per the order of Juvenile Justice Board (JJB) the release of juvenile convict was scheduled for December 20, but "it needs to be extended".
 
After hearing the arguments of government and the central government the court reserved the order and said: "We will consider and pass order."
 
The juvenile, who was under 18 when arrested for brutal rape and murder of a para-medical student on December 16, 2012, was tried under the Juvenile Justice Act. He was ordered to be kept in a remand home for three years.
 
The court had earlier sought Intelligence Bureau (IB) report about him having been radicalised, in a sealed cover.
 
The IB had raised suspicion of the juvenile being radicalised after being shifted with a juvenile apprehended in connection with the Delhi High Court blast case.
 
Swamy in his plea asked the court to pass order that "such unreformed juvenile not be released until it is demonstrably assured that he has reformed, ceased to be radicalised and is not a menace to the society".
 
A trial court had awarded death penalty to four rapists which was upheld by the high court. Out of the six convicts, one was found dead in Tihar Jail and the juvenile was sent to reform home.
 
The appeals for four convicts are pending before the Supreme Court.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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India's annual wholesale inflation rises to -1.99%
With no respite from rising food prices, notably pulses, India's annual wholesale inflation rate moved up further to (-)1.99 percent for November, against (-)3.81 percent for the month before, official data showed on Monday.
 
As per the official wholesale price index numbers released by the Ministry of Commerce and Industry, the food articles rose sharply by 2.3 percent in just a month in November, as prices of fish, meat, eggs, lentils, condiments and spices, and fruits and vegetables all registered a rise.
 
The overall annual wholesale inflation rate, though still in the negative, has risen to (-)1.99 percent from (-)3.81 in October, and (-)4.59 percent and (-)5.06 percent in the preceding two months. 
 
Food inflation moved up above the zero percent level to 3.12 percent from (-)1.2 percent during the month under review. The annual index numbers for petrol, diesel and cooking fuels also rose, while still in the negative.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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