vision cse
07:29
Click Here to Like our Facebook page for latest updates and free ebooks
Click Here to Like our Facebook page for latest updates and free ebooks
Saturday, December 05, 2020
Friday, December 04, 2020
The HINDU Notes – 02nd December 2020
vision cse
20:05
📰 GST inflows top ₹1 lakh cr for second month in a row
The collection in November 2020 is 1.4 % higher than in November 2019 when the GST mop-up was ₹1,03,491 crore
•Gross revenues from the Goods and Services Tax (GST) crossed the ₹1 lakh crore mark for the second month in a row, with ₹1,04,963 crore collected in November 2020. This was 1.4% higher than a year ago but a tad lower than October’s collections.
•The pick-up in GST revenues over the last two months could reduce the shortfall in GST compensation dues to States, but economists urged caution till December to assess if the economy is truly out of the woods after the festive demand factor has played out.
•Cumulatively, the GST revenues from the first eight months of 2020-21 add up to ₹6,64,709 crore, reflecting a 17.4% dip from the ₹8,05,164 crore collected in the same period of 2019-20.
•“In line with the recent trend of recovery, the revenues for November 2020 are 1.4% higher than the GST revenues in the same month last year. During the month, revenues from imports was 4.9% higher and revenues from domestic transaction (including import of services) are 0.5% higher than the revenues from these sources during the same month last year,” the Finance Ministry said in a statement.
•November’s GST collections, boosted by festive spending, were just ₹192 crore lower than October, which had recorded the highest revenue from indirect taxes since February 2020. GST revenues had collapsed to just ₹32,172 crore in April this year as economic activity was crippled following the national lockdown.
•“The average pace of growth in GST collections in October-November 2020 stood at a moderately healthy 6%. The trends regarding the sustainability of demand will be clearer in the data on the GST collections for December 2020, which will be for the transactions that took place in the month of November 2020,” said Aditi Nayar, principal economist at ICRA Ltd.
•Among the major States, Andhra Pradesh (12%), Gujarat and Jharkhand (11%), followed by Tamil Nadu (10%), were the only ones to record double-digit growth in November’s GST revenues compared to a year ago.
•Abhishek Jain, tax partner at EY termed the second straight month of ₹1 lakh crore-plus GST collections encouraging and said this should help in containing the shortfall of GST collections caused due to the pandemic.
•In November, ₹8,242 crore was collected in the form of cess, which is used to compensate States for implementing the GST. This was higher than the ₹8,011 crore collected as cess in October.
•Ms. Nayar termed the mild month-on-month dip in the GST collections in November 2020 as discouraging, but said the festival calendar had an impact.
•“In our view, the sharp moderation in growth in the generation of GST e-way bills in November 2020 relative to the previous month, signals the impact of the change in working days related to the shift in the festive calendar,” she said.
📰 PMI shows manufacturing losing steam
The HINDU Notes – 01st December 2020
vision cse
19:48
📰 South Tamil Nadu, Kerala coasts on pre-cyclone watch
Depression in the bay expected to intensify; heavy rainfall warning across districts
•Another potential cyclonic storm, brewing over southeast Bay of Bengal may strike the Sri Lanka coast first and then emerge into the Comorin area on December 3, the India Meteorological Department (IMD) said and declared a pre-cyclone watch for the south Tamil Nadu and south Kerala coasts.
•A depression which lay east-southeast off Kanyakumari and Trincomalee on Monday noon was expected to concentrate into a deep depression early on Tuesday and transform into a cyclonic storm in the subsequent 24 hours. The cyclonic storm expected to cross the Sri Lankan coast during Wednesday evening/night. By Thursday morning, it is expected to emerge into the Kanyakumari region, the IMD said.
•Heavy to very heavy rainfall with isolated extremely heavy falls is likely in Kanyakumari, Tirunelveli, Thoothukudi, Tenkasi, Ramanathapuram and Sivagangai districts of Tamil Nadu (above 24 cm); and Thiruvananthapuram, Kollam, Pathanamthitta and Alappuzha districts of Kerala on Wednesday and Thursday.
•These regions can also expect isolated heavy to very heavy rainfall through Tuesday to Friday, the IMD said.
•Should the system develops into a cyclonic storm, it may be named Burevi, a name suggested by Maldives.
•Officials noted that heavy rains in one or two places may start over Tamil Nadu’s delta and southern districts such as Thanjavur, Sivagangai, Tirunelveli and Kanyakumari on Tuesday and continue for two days. Kancheepuram and Tiruvallur districts may receive isolated heavy rains on Wednesday.
Alert for Kerala
•Thiruvananthapuram, Kollam, Pathanamthitta and Alappuzha districts have been put on red alert for Thursday given the likelihood of extremely heavy rainfall. Kottayam, Ernakulam and Idukki are on orange alert on the same day for isolated heavy to very heavy rainfall.
•Yellow alerts for isolated heavy rainfall are in place for Thiruvananthapuram and Kollam on Tuesday. On Wednesday, Thiruvananthapuram, Kollam, Pathanamthitta and Idukki are on orange alert and Alappuzha, Ernakulam and Kottayam on yellow alert.
•Thiruvananthapuram, Kollam, Pathanamthitta and Alappuzha are on orange alert on Friday and Kottayam, Ernakulam and Idukki on yellow alert.
•Orange alerts have been issued for the Lakshadweep islands on Thursday and Friday.
North TN forecast
•Deputy Director General of Meteorology, Chennai, S. Balachandran said, “The weather disturbance has to cross Sri Lankan land mass before reaching closer to TN coast. We are monitoring the system and tracking whether it will emerge through the Gulf of Mannar or directly reach the Comorin region. Parts of north TN and Chennai too have prospects of rainfall.”
Strong winds
•Squally winds with speeds reaching 55-65 kmph gusting to 75 kmph are expected over Gulf of Mannar, along and off south Tamil Nadu and Kerala coasts, Lakshadweep, Maldives and adjoining southeast Arabian Sea for two days from Thursday. The IMD has advised total suspension of fishing activities in these regions till Friday.
📰 ‘India to surpass 350 mn 5G connections by 2026’
THE HINDU NEWSPAPER IMPORTANT ARTICLES 04.12.2020
vision cse
19:27
