👀DAILY HINDU EDITORIAL WORD BYTES - 1--> 7 MAY👀
💥Daily Word Bytes - 1 from editorial - GST's Complicated💥
compliant (adjective) – accommodating, cooperative, obedient/dutiful.
Hindu Editorial usage : The new compliance system and a proposal for cess on sugar send the wrong signals
barring (verb) – excluding, omitting, leaving out.
Hindu Editorial usage : Indeed, at its meeting last week the Council decided to introduce a new compliance system under which a single monthly GST return will have to be submitted by firms, barring a few exceptions.
under way (adverb) – in progress, going on, happening.
Hindu Editorial usage : Discussions over simplifying GST returns have been under way for months and considered by the Council, a committee of officers and a Group of Ministers
provisional (adjective) – interim/transitional, temporary, tentative.
Hindu Editorial usage : Yet, the solution offered has gaps. For instance, in the second stage of the transition to simpler returns, buyers will get provisional input credit even if the seller doesn’t upload the invoices
input (tax) credit (ITC) (noun) – GST taxation structure allows businesses across India to claim input credit for the tax they paid while purchasing capital goods for their company.
Hindu Editorial usage : For instance, in the second stage of the transition to simpler returns, buyers will get provisional input credit even if the seller doesn’t upload the invoices
default (on) (verb) – fail to pay, not pay, renege.
Hindu Editorial usage : If a seller defaults on depositing GST dues collected from a buyer and remains evasive, the authorities can reverse the credit availed by the buyer for such outstanding taxes.
evasive (adjective) – avoiding, dodging, escaping.
Hindu Editorial usage : If a seller defaults on depositing GST dues collected from a buyer and remains evasive, the authorities can reverse the credit availed by the buyer for such outstanding taxes.
avail (verb) – use, make use of, utilize.
Hindu Editorial usage : If a seller defaults on depositing GST dues collected from a buyer and remains evasive, the authorities can reverse the credit availed by the buyer for such outstanding taxes.
jitters (noun) – nervousness, uneasiness, anxiety.
Hindu Editorial usage : In any case, the timelines for the transition are long and bring fresh uncertainty for businesses still recovering from the initial jitters and confusion around the tax regime.
credit with (verb) – be recognized as, be held responsible for, ascribe to (an achievement).
Hindu Editorial usage : The Council, credited with swift and significant course correction in GST processes in its initial months, could have done more.
swift (adjective) – fast, rapid, quick.
Hindu Editorial usage : The Council, credited with swift and significant course correction in GST processes in its initial months, could have done more.
imposition (noun) – levying, charging, enforcing.
Hindu Editorial usage : The most troubling is the Centre’s push for the imposition of a cess on sugar over and above the 5% GST levied on it.
alleviate (verb) – reduce, control, mitigate/moderate.
Hindu Editorial usage : A cess at the rate of ₹3 a kg is proposed to alleviate ‘deep distress’ among sugarcane farmers.
looming (adjective) – threatening, menacing; emerging, appearing (as a visible thread).
Hindu Editorial usage : In addition, a special sugar cess will signal a looming breakdown of the basic tenet of GST:
breakdown (noun) – failure, collapse, foundering.
Hindu Editorial usage : In addition, a special sugar cess will signal a looming breakdown of the basic tenet of GST:
tenet (noun) – principle, belief, doctrine/rule.
Hindu Editorial usage : In addition, a special sugar cess will signal a looming breakdown of the basic tenet of GST:
revert (verb) – respond, reply.
Hindu Editorial usage : this has been referred to new ministerial groups, which are to revert in a fortnight
fortnight (noun) – a period of two weeks.
Hindu Editorial usage : this has been referred to new ministerial groups, which are to revert in a fortnight
intent (noun) – aim, purpose, objective.
Hindu Editorial usage : which was the original stated intent for giving private players an upper hand in operations.
upper hand (noun) – a dominating position.
Hindu Editorial usage : which was the original stated intent for giving private players an upper hand in operations.
To Download this editorial in PDF version CLICK HERE
Hindu Editorial usage : The new compliance system and a proposal for cess on sugar send the wrong signals
barring (verb) – excluding, omitting, leaving out.
Hindu Editorial usage : Indeed, at its meeting last week the Council decided to introduce a new compliance system under which a single monthly GST return will have to be submitted by firms, barring a few exceptions.
Hindu Editorial usage : Discussions over simplifying GST returns have been under way for months and considered by the Council, a committee of officers and a Group of Ministers
Hindu Editorial usage : Yet, the solution offered has gaps. For instance, in the second stage of the transition to simpler returns, buyers will get provisional input credit even if the seller doesn’t upload the invoices
Hindu Editorial usage : For instance, in the second stage of the transition to simpler returns, buyers will get provisional input credit even if the seller doesn’t upload the invoices
Hindu Editorial usage : If a seller defaults on depositing GST dues collected from a buyer and remains evasive, the authorities can reverse the credit availed by the buyer for such outstanding taxes.
Hindu Editorial usage : If a seller defaults on depositing GST dues collected from a buyer and remains evasive, the authorities can reverse the credit availed by the buyer for such outstanding taxes.
Hindu Editorial usage : If a seller defaults on depositing GST dues collected from a buyer and remains evasive, the authorities can reverse the credit availed by the buyer for such outstanding taxes.
Hindu Editorial usage : In any case, the timelines for the transition are long and bring fresh uncertainty for businesses still recovering from the initial jitters and confusion around the tax regime.
Hindu Editorial usage : The Council, credited with swift and significant course correction in GST processes in its initial months, could have done more.
Hindu Editorial usage : The Council, credited with swift and significant course correction in GST processes in its initial months, could have done more.
Hindu Editorial usage : The most troubling is the Centre’s push for the imposition of a cess on sugar over and above the 5% GST levied on it.
Hindu Editorial usage : A cess at the rate of ₹3 a kg is proposed to alleviate ‘deep distress’ among sugarcane farmers.
Hindu Editorial usage : In addition, a special sugar cess will signal a looming breakdown of the basic tenet of GST:
Hindu Editorial usage : In addition, a special sugar cess will signal a looming breakdown of the basic tenet of GST:
Hindu Editorial usage : In addition, a special sugar cess will signal a looming breakdown of the basic tenet of GST:
Hindu Editorial usage : this has been referred to new ministerial groups, which are to revert in a fortnight
Hindu Editorial usage : this has been referred to new ministerial groups, which are to revert in a fortnight
Hindu Editorial usage : which was the original stated intent for giving private players an upper hand in operations.
Hindu Editorial usage : which was the original stated intent for giving private players an upper hand in operations.
To Download this editorial in PDF version CLICK HERE
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