Hindi English Translation || Editorial || A time to introspect: On Centre-State dialogue and GST

A time to introspect: On Centre-State dialogue and GST

More Centre-State deliberations (विचार-विमर्श, विवेचना) needed with GST regime (शासन, प्रणाली) at a critical turning point

At its first physical (शारीरिक रूप से, व्यक्तिगत रूप से) meeting during the pandemic (वैश्विक महामारी, महामारी), the GST Council approved a flurry (spate, series, succession) of changes. Concessional (रिआयती, (कमी, छूट, कटौती)) tax rates on vital COVID-19 equipment such as oxygen concentrators (ऑक्सीजन संकेन्द्रक) will lapse (expire, become void/invalid, terminate, become obsolete) on September 30, while the lower rates on medicines were extended till December. Whatever the pace of vaccination (टीकाकरण), there are no signs the virus and its variants (प्रकार) would be extinct (विलुप्त, दुर्लभ, गायब) on New Year’s Day, so the Council could have taken a more considerate (विचारशील, चिंतित, सावधान) view on pandemic essentials (अनिवार्य, नितांत आवश्यक या महत्वपूर्ण चीजें). Tax rate tweaks were okayed (ठीक है, स्वीकृति देना, सहमत होना, हाँ कहना) for an eclectic (wide-ranging/extensive, comprehensive, all-embracing, multidisciplinary) range of sectors with long-pending course correction (modifying, improving, rectifying (the plan of action)) on inverted duty structures plaguing (bother, disturb, trouble, irritate, worry, annoy, vex) several items, including footwear and textiles. The semblance ((outward) appearance, approximation) of clarity brought in on a much-disputed issue — the definition of an intermediary (GST law defines intermediary as broker, an agent or any other person, by whatever name called, who arranges or facilitates the supply of goods or services or both, or securities, between two or more persons, but does not include a person who supplies such goods or services or both or securities on his own account) — is welcome, for it was hurting several sectors, including IT services exports. Double taxation (the act of levying or imposing a tax by a government/the taxing authority) on the import of leased aircraft goes. Food delivery services players shall be made liable to (legally responsible, accountable, answerable) collect and remit (send, forward, transmit (money)) taxes instead of the restaurants. One awaits (wait for) the fine print (small print; it refers to some important details or conditions of an agreement/contract, but written/printed in small letters (e.g. mutual funds’ terms & conditions)) to assess the impact on consumers and smaller outlets (store, retail store, reseller). The plan to tax coconut oil as a personal care item at 18% for pack sizes below one litre and retain the 5% rate on edible oils (cooking oil; fat of plant, animal or microbial origin, which is liquid at room temperature and is suitable for food use) for larger packs, has been held back for study, and will hopefully be shelved for good.

These pluses and minuses (the good and bad points of something; the advantages and disadvantages; the pros and cons) aside, two things stand out (be noticeable, be obvious, be conspicuous, be striking) for Indian consumers — the Council’s firm dismissal (rejection, repudiation, refusal, non-acceptance) of any shift of petroleum products to GST to lower the tax burden (tax incidence/burden falls on the public) and the fact that GST cess on automobiles, tobacco and aerated (carbonated; charged with carbon dioxide or some other gas) drinks will now be levied till April 2026, not June 2022 as originally envisaged (expect, intend, propose, envision, contemplate). While the Council may have discussed petro products only briefly to comply with (abide by, adhere to, conform to, follow) a Kerala High Court order, consumers who need some relief on fuel prices — irrespective of who cuts taxes — may have held misplaced hopes. If the Government really wants a consumption rebound (recovery, rallying, picking up (after a decline)) that may reignite (evoke, rejuvenate, stimulate, renew, revive) private investments, the Centre and States must begin talks on rationalising (streamline, make more efficient, hone, simplify, reorganize; justify, explain, give reasons for, give an explanation for, elucidate) fuel taxes. The Finance Minister has often expressed the worry: ‘What if we cut taxes and States do not’. Perhaps (maybe, possibly), a compact (agreement, contract, deal, settlement) could be arrived at (reach a decision/conclusion; attain, accomplish), so both give up a little revenue to spur (motivate, stimulate, encourage, galvanize.) spending. A similar dialogue (वार्तालाप, बातचीत, आदान-प्रदान) is needed for an honest review of the GST regime’s progress and the way ahead. With just nine more months of assured (guaranteed) compensation for States, they are worried about revenue streams (a continuous flow of something) falling off the cliff (precipice, rock face, ridge) thereafter. Their pleas (appeal, request, call) for an extension in the compensation period have met with stern diffidence (unassertiveness, bashfulness, insecurity, self-doubt, apprehension, uncertainty) and the argument that GST revenues are below expectations. Two ministerial groups have been tasked to augment (increase, intensify; improve, boost, enhance) revenues using technology and rate rationalisations. The Centre need not wait for their reports to hold (arrange, convene) a special Council meeting to discuss States’ compensation concerns, as had been promised. At this juncture, the Council should be a forum for empathetic (compassionate/humane, sympathetic, understanding) contemplation, not fractious (argumentative, quarrelsome, contentious, controversial, difficult (to control), disagreeable) friction.

Courtesy: The Hindu

Important Word List With Meaning

1.introspect (verb)

Hindi Meaning - आत्‍मनिरीक्षण करना, आत्मविश्लेषण करना, मनन करना
English Meaning - self-observe, self-examine, self analyse, contemplate.

2.dialogue (noun)

Hindi Meaning - वार्तालाप, बातचीत, आदान-प्रदान
English Meaning - discussion, conversation, talk, exchange of views, discourse.

3.deliberation (noun)

Hindi Meaning - विचार-विमर्श, विवेचना
English Meaning - consideration, thought/thinking, careful discussion, contemplation.

4.regime (noun)

Hindi Meaning - शासन, प्रणाली
English Meaning - system.

5.physical (adjective)

Hindi Meaning - शारीरिक रूप से, व्यक्तिगत रूप से
English Meaning - in person, bodily.

6.pandemic (noun)

Hindi Meaning - वैश्विक महामारी, महामारी
English Meaning - the worldwide spread of a new disease; The illness spreads around the world and typically affects a large number of people across a wide area.

7.concessional (adjective)

Hindi Meaning - रिआयती, (कमी, छूट, कटौती)
English Meaning - having a concession (reduction, cut, discount, deduction).

8.oxygen concentrator (noun)

Hindi Meaning - ऑक्सीजन संकेन्द्रक
English Meaning - a medical device that concentrates oxygen from ambient air. Atmospheric air has about 78 per cent nitrogen and 21 per cent oxygen, with other gases making up the remaining 1 per cent. Oxygen concentrators filter surrounding air, compressing it to the required density and then delivering purified medical grade oxygen into a pulse-dose delivery system or continuous stream system to the patient.

9.vaccination (noun)

Hindi Meaning - टीकाकरण
English Meaning - treatment with a vaccine to protect against a particular disease; immunization.

10.variant (noun)

Hindi Meaning - प्रकार
English Meaning - different or form or version or mutant of something (virus).

11.extinct (adjective)

Hindi Meaning - विलुप्त, दुर्लभ, गायब
English Meaning - vanished, dead, defunct, no longer existing, wiped out, destroyed.

12.considerate (adjective)

Hindi Meaning - विचारशील, चिंतित, सावधान
English Meaning - attentive, thoughtful, concerned, heedful.

13.essentials (noun)

Hindi Meaning - अनिवार्य, नितांत आवश्यक या महत्वपूर्ण चीजें
English Meaning - absolutely necessary or important things/items.

14.ok (verb)

Hindi Meaning - ठीक है, स्वीकृति देना, सहमत होना, हाँ कहना
English Meaning - authorize, approve, agree to, say yes to, allow.

15.bring in (phrasal verb)

Hindi Meaning - लाना, पेश करना, प्रस्ताव देना
English Meaning - introduce, put forward, propose, present, initiate.

16.lapse (verb)

English Meaning - expire, become void/invalid, terminate, become obsolete.

17.flurry (noun)

English Meaning - spate, series, succession.

18.eclectic (adjective)

English Meaning - wide-ranging/extensive, comprehensive, all-embracing, multidisciplinary.

19.course correction (noun)

English Meaning - modifying, improving, rectifying (the plan of action).

20.plague (verb)

English Meaning - bother, disturb, trouble, irritate, worry, annoy, vex.

21.semblance (noun)

English Meaning - (outward) appearance, approximation.

22.intermediary (noun)

English Meaning - GST law defines intermediary as broker, an agent or any other person, by whatever name called, who arranges or facilitates the supply of goods or services or both, or securities, between two or more persons, but does not include a person who supplies such goods or services or both or securities on his own account.

23.taxation (noun)

English Meaning - the act of levying or imposing a tax by a government/the taxing authority.

24.liable to (adjective)

English Meaning - legally responsible, accountable, answerable.

25.remit (verb)

English Meaning - send, forward, transmit (money).

26.await (verb)

English Meaning - wait for.

27.fine print (noun)

English Meaning - small print; it refers to some important details or conditions of an agreement/contract, but written/printed in small letters (e.g. mutual funds’ terms & conditions).

28.outlet (noun)

English Meaning - store, retail store, reseller.

29.edible oil (noun)

English Meaning - cooking oil; fat of plant, animal or microbial origin, which is liquid at room temperature and is suitable for food use.

30.hold back (phrasal verb)

English Meaning - pause, stop, discontinue, withhold, refrain from doing something.

31.shelve (verb)

English Meaning - postpone, put off, delay, defer, reschedule.

32.pluses and minuses (phrase)

English Meaning - the good and bad points of something; the advantages and disadvantages; the pros and cons.

33.stand out (phrasal verb)

English Meaning - be noticeable, be obvious, be conspicuous, be striking.

34.dismissal (noun)

English Meaning - rejection, repudiation, refusal, non-acceptance.

35.tax burden (noun)

English Meaning - tax incidence/burden falls on the public.

36.cess (noun)

English Meaning - a form of tax charged/levied over and above the base tax liability of a taxpayer. A cess is usually imposed additionally when the state or the central government looks to raise funds for specific purposes.

37.aerated (adjective)

English Meaning - carbonated; charged with carbon dioxide or some other gas.

38.envisage (verb)

English Meaning - expect, intend, propose, envision, contemplate.

39.comply with (verb)

English Meaning - abide by, adhere to, conform to, follow.

40.misplaced (adjective)

English Meaning - misguided, misconceived, ill-advised, ill-considered, ill-judged.

41.rebound (noun)

English Meaning - recovery, rallying, picking up (after a decline).

42.reignite (verb)

English Meaning - evoke, rejuvenate, stimulate, renew, revive.

43.rationalise (verb)

English Meaning - streamline, make more efficient, hone, simplify, reorganize; justify, explain, give reasons for, give an explanation for, elucidate.

44.perhaps (adverb)

English Meaning - maybe, possibly.

45.compact (noun)

English Meaning - agreement, contract, deal, settlement.

46.arrive at (verb)

English Meaning - reach a decision/conclusion; attain, accomplish.

47.give up (phrasal verb)

English Meaning - renounce, relinquish, forgo, waive.

48.spur (verb)

English Meaning - motivate, stimulate, encourage, galvanize.

49.the way ahead/forward (phrase)

English Meaning - something (a plan/action) that leads to success in the future.

50.assured (adjective)

English Meaning - guaranteed.

51.compensation (noun)

English Meaning - payment, repayment, settlement (for loss/damage).

52.GST Compensation (noun)

English Meaning - Under the GST law (In India), state governments are guaranteed full compensation for any revenue loss for the first five years after the introduction of the goods and services tax (GST) in July 2017. The compensation is a gap between actual revenue collected and projected revenue.

53.stream (noun)

English Meaning - a continuous flow of something.

54.revenue stream (noun)

English Meaning - a regular/continuous series of revenue coming from a business.

55.fall off (phrasal verb)

English Meaning - drop off, go down, decline.

56.cliff (noun)

English Meaning - precipice, rock face, ridge.

57.fall off a cliff (phrase)

English Meaning - collapse; fail/break down suddenly/quickly.

58.plea (noun)

English Meaning - appeal, request, call.