Delivery completed: On the GST Council meet, reforms

With the latest reforms (सुधार, सुधारात्मक बदलाव), GST might finally (अंततः, आखिरकार) become a ‘good and simple tax (अच्छा और सरल कर)’

The decisions taken by the Goods and Services Tax (GST) (वस्तु एवं सेवा कर) Council in its 57th meeting on Thursday reveal (उजागर करना, प्रकट करना) two distinct (स्पष्ट, भिन्न) changes in the attitude (दृष्टिकोण, रवैया) of the tax administration: (the management, conduct, and direction of the assessment and collection of taxes; tax management, tax governance, tax regulation, tax supervision) increased (बढ़ा हुआ, अधिक) trust (विश्वास, भरोसा) in the taxpayer, and reduced anxiety (चिंता, आशंका) over (के बारे में, को लेकर) tax revenues (कर-राजस्व). This is a big change from the system in place (set up and ready to be used; established, arranged, set up, functional) so far (अब तक, अभी तक), where taxpayers have been bogged down by compliance (अनुपालन, पालन) requirements, and the tax enforcement (the process of ensuring that taxpayers comply with tax laws and regulations; tax policing, tax implementation, tax monitoring, tax compulsion) has used this complexity (complication, intricacy, entanglement, difficulty) to try to extract (get something, especially money, from someone by using force or threats; wring, squeeze, exact, obtain) every rupee it can. The data show gross ((of income, profit, or interest) without deduction of tax or other contributions; total, whole, entire, aggregate) collections have not often (frequently; many times, regularly, repeatedly, habitually) deviated (diverge, veer, wander, differ) significantly from the mean (average, arithmetic mean, average value, central average) over the last two years. After nine years, taxpayers have also become familiar (having knowledge of or being accustomed to something through experience; acquainted, conversant, knowledgeable, accustomed), if not comfortable (at ease, relaxed, confident), with the tax filing system. The previous meeting also rectified most rate-related issues in GST and even reduced the number of slabs (a specific range of income or value that is taxed at a particular rate; bracket, category, tier, grouping), a major driver (a factor or force that causes, influences or contributes to a particular development or outcome; cause, factor, determinant, catalyst) of the complexity of the tax system. The time was ripe ((of time or a situation) suitably prepared or favorable for a particular action or event; suitable, favorable, opportune, timely) for a significant overhaul (a thorough examination; redevelopment, revamp, makeover, reorganization) of the processes and administration (management, direction, control, governance) of GST, and the Council (an advisory, deliberative, or legislative body of people formally constituted and meeting regularly; committee, board, panel) has delivered (provide something promised or expected; provide, supply, produce, fulfill). Thursday’s reforms address (think about and begin to deal with an issue or problem; tackle, confront, manage, deal with) complications (difficulty, problem, obstacle, hurdle) in the entire chain (series, succession, sequence, string) of GST paperwork (routine work involving written documents such as forms, records, or letters; documentation, forms, records, files), from registration and return filing, to refunds and litigation (the process of taking legal action; lawsuit, legal proceeding, legal action, legal dispute). The thrust (core, essence, objective, focus) is to reduce human discretion (the freedom to decide what should be done in a particular situation; choice, option, judgment, volition) in these processes by automating registrations, reducing the number of times small businesses have to file (submit, register, record, lodge) returns (an official report of income or other details for tax purposes; declaration, statement, report), handling (manage, deal with, take care of, control) refunds through computer-based verification, and significantly reducing the powers (authority that is given or delegated to a person or body; authority, jurisdiction, control, mandate) of GST officers. In essence (fundamentally; basically, primarily, essentially, at heart), trust (rely on, depend on, count on, bank on) the taxpayer to comply (act in accordance with; abide by, observe, adhere to, conform to), and crack down (take severe measures against someone or something; clamp down, suppress, restrict, penalize) only when non-compliance (failure or refusal to comply with something; disobedience, violation, infraction, infringement) is demonstrable (clearly apparent or capable of being logically proved; verifiable, provable, obvious, evident). That is the way it should be, instead of (as an alternative to; in place of, rather than, as a substitute for, in lieu of) a ‘guilty until proven innocent (a presumption that a person or entity is at fault without requiring the accusing party to prove it first; assumed guilty, prejudged, pre-condemned, presumed culpable)’ approach (a way of dealing with something; method, procedure, strategy, tactic).

While all the simplification measures (a course of action taken to achieve a particular purpose; step, action, initiative, move) are welcome (pleasing, agreeable, cheering, refreshing), some specific ones deserve (merit, warrant, justify, earn) special mention (reference, remark, statement, observation) as they will substantially (significantly, considerably, materially, notably) ease (alleviate, relieve, mitigate, soothe) areas of major discontent (dissatisfaction, unhappiness, grievance, displeasure). So far, taxpayers were denied input tax credits (ITC) (the credit available to a registered person for eligible GST paid on business purchases of goods and services, which can be used to offset output GST liability, subject to statutory conditions and restrictions) until their suppliers had filed their returns. This meant (signify, indicate, imply, entail) that thousands of genuine businesses that had received supplies and paid taxes on them were denied ITC, leading to (result in; cause, bring on, produce, prompt) a drying up of crucial working capital (the capital of a business which is used in its day-to-day trading operations; operating capital, operational funds, running capital, liquid assets). The GST Council has tasked (assign a task to; assign, allocate, charge, entrust) a committee (a group of people appointed for a specific function; board, council, panel, commission) to find a solution that can be implemented (put a decision, plan, agreement, etc., into effect; execute, apply, carry out) by April 1. Removing the arrest (detention, apprehension, capture, restraint) powers of GST officers is another step that will significantly reduce harassment (aggressive pressure or intimidation; persecution, intimidation, badgering, torment), as will tightening (make something stricter or more rigorous; stiffen, toughen, reinforce, strengthen) the rules around (relating to; concerning, regarding, about, on) inspection (careful examination or scrutiny; examination, check, survey, scrutiny), searches, and seizures (the action of capturing someone or something using force or legal authority; confiscation, appropriation, expropriation, impounding) of consignments (a batch of goods destined for or delivered to someone; shipment, delivery, batch, load). The Centre has also used this opportunity to introduce a faceless (having no identifiable or distinguishing characteristics, often denoting digital, remote processes lacking direct human interface; anonymous, impersonal, remote, automated) assessment system (the procedure used to calculate and evaluate tax liability; evaluation mechanism, appraisal process, computation framework, review procedure) for Central GST registered companies, along the lines of (roughly similar to; similar to, like, resembling, approximating) the popular (favored, well-liked, admired, accepted) faceless system (an administrative mechanism where proceedings are conducted electronically without physical interface; anonymous framework, impersonal procedure, automated mechanism, remote system) in income tax. The decision to review rates only once (happening just a single time; a single time, on one occasion) a year, and implement rate changes only at the start of financial years (a 12-month period running from 1 April to 31 March in India; fiscal year, accounting year, financial period, budget year), removes significant uncertainty (the state of being uncertain; unpredictability, unreliability, doubt, ambivalence) that usually arises ((of a problem, opportunity, or situation) emerge or become apparent; emerge, appear, crop up, surface) each time the Council meets. In its 10th year, GST is finally starting to look like (resemble, appear as, seem like, take the appearance of) what it should have at the time of (during the moment when something occurs; during, upon, concurrently with, coinciding with) rollout (the official launch or introduction of a new product or service; launch, introduction, unveiling, release).

Courtesy: The Hindu

Important Word List With Meaning

1.reform (noun)

Hindi Meaning - सुधार, सुधारात्मक बदलाव
English Meaning - improvement.

2.Goods and Services Tax (GST) (noun)

Hindi Meaning - वस्तु एवं सेवा कर
English Meaning - a comprehensive, multi-stage, destination-based indirect tax levied on the supply of goods and services, with tax credits available for taxes paid at previous stages; implemented across India on 1 July 2017 under the constitutional framework established by the Constitution (101st Amendment) Act, 2016.

3.finally (adverb)

Hindi Meaning - अंततः, आखिरकार
English Meaning - eventually, ultimately, at last, in the end.

4.good and simple tax (phrase)

Hindi Meaning - अच्छा और सरल कर
English Meaning - a popular phrase used by the Indian government to describe the Goods and Services Tax (GST), emphasizing its intended aim to simplify the indirect taxation system; straightforward tax, uncomplicated tax, simplified tax, easy tax.

5.reveal (verb)

Hindi Meaning - उजागर करना, प्रकट करना
English Meaning - disclose, unveil, uncover, display.

6.distinct (adjective)

Hindi Meaning - स्पष्ट, भिन्न
English Meaning - clear, clear-cut, definite, unmistakable.

7.attitude (noun)

Hindi Meaning - दृष्टिकोण, रवैया
English Meaning - viewpoint, mindset, perspective, approach.

8.increased (adjective)

Hindi Meaning - बढ़ा हुआ, अधिक
English Meaning - enhanced, heightened, elevated, expanded.

9.trust (noun)

Hindi Meaning - विश्वास, भरोसा
English Meaning - faith, belief, confidence, reliance.

10.anxiety (noun)

Hindi Meaning - चिंता, आशंका
English Meaning - worry, concern, apprehension, uneasiness.

11.over (preposition)

Hindi Meaning - के बारे में, को लेकर
English Meaning - on the subject of; concerning, regarding, about, respecting.

12.tax revenue (noun)

Hindi Meaning - कर-राजस्व
English Meaning - the income that is gained by governments through taxation; tax yield, tax income, tax collection, tax receipt.

13.so far (phrase)

Hindi Meaning - अब तक, अभी तक
English Meaning - up to this point in time; until now, up to now, to date, thus far.

14.Goods and Services Tax (GST) Council (noun)

Hindi Meaning - वस्तु एवं सेवा कर परिषद
English Meaning - a constitutional body constituted under Article 279A of the Constitution of India, chaired by the Union Finance Minister, responsible for making recommendations to the Union and State Governments on GST-related matters, including tax rates, exemptions and model GST laws.

15.compliance (noun)

Hindi Meaning - अनुपालन, पालन
English Meaning - adherence, observation, conformity, accordance.

16.complexity (noun)

English Meaning - complication, intricacy, entanglement, difficulty.

17.bog down (phrasal verb)

English Meaning - prevent someone or something from making progress; hinder, impede, obstruct, stall.

18.delivery (noun)

English Meaning - the process of providing a service or completing an expected task; provision, execution, accomplishment, fulfillment.

19.tax administration (noun)

English Meaning - the management, conduct, and direction of the assessment and collection of taxes; tax management, tax governance, tax regulation, tax supervision.

20.in place (phrase)

English Meaning - set up and ready to be used; established, arranged, set up, functional.

21.tax enforcement (noun)

English Meaning - the process of ensuring that taxpayers comply with tax laws and regulations; tax policing, tax implementation, tax monitoring, tax compulsion.

22.extract (verb)

English Meaning - get something, especially money, from someone by using force or threats; wring, squeeze, exact, obtain.

23.gross (adjective)

English Meaning - (of income, profit, or interest) without deduction of tax or other contributions; total, whole, entire, aggregate.

24.often (adverb)

English Meaning - frequently; many times, regularly, repeatedly, habitually.

25.deviate (verb)

English Meaning - diverge, veer, wander, differ.

26.mean (noun)

English Meaning - average, arithmetic mean, average value, central average.

27.familiar (adjective)

English Meaning - having knowledge of or being accustomed to something through experience; acquainted, conversant, knowledgeable, accustomed.

28.comfortable (adjective)

English Meaning - at ease, relaxed, confident.

29.slab (noun)

English Meaning - a specific range of income or value that is taxed at a particular rate; bracket, category, tier, grouping.

30.driver (noun)

English Meaning - a factor or force that causes, influences or contributes to a particular development or outcome; cause, factor, determinant, catalyst.

31.ripe (adjective)

English Meaning - (of time or a situation) suitably prepared or favorable for a particular action or event; suitable, favorable, opportune, timely.

32.overhaul (noun)

English Meaning - a thorough examination; redevelopment, revamp, makeover, reorganization.

33.administration (noun)

English Meaning - management, direction, control, governance.

34.Council (noun)

English Meaning - an advisory, deliberative, or legislative body of people formally constituted and meeting regularly; committee, board, panel.

35.deliver (verb)

English Meaning - provide something promised or expected; provide, supply, produce, fulfill.

36.address (verb)

English Meaning - think about and begin to deal with an issue or problem; tackle, confront, manage, deal with.

37.complication (noun)

English Meaning - difficulty, problem, obstacle, hurdle.

38.chain (noun)

English Meaning - series, succession, sequence, string.

39.paperwork (noun)

English Meaning - routine work involving written documents such as forms, records, or letters; documentation, forms, records, files.

40.litigation (noun)

English Meaning - the process of taking legal action; lawsuit, legal proceeding, legal action, legal dispute.

41.thrust (noun)

English Meaning - core, essence, objective, focus.

42.discretion (noun)

English Meaning - the freedom to decide what should be done in a particular situation; choice, option, judgment, volition.

43.file (verb)

English Meaning - submit, register, record, lodge.

44.return (noun)

English Meaning - an official report of income or other details for tax purposes; declaration, statement, report.

45.handle (verb)

English Meaning - manage, deal with, take care of, control.

46.power (noun)

English Meaning - authority that is given or delegated to a person or body; authority, jurisdiction, control, mandate.

47.in essence (phrase)

English Meaning - fundamentally; basically, primarily, essentially, at heart.

48.trust (verb)

English Meaning - rely on, depend on, count on, bank on.

49.comply (verb)

English Meaning - act in accordance with; abide by, observe, adhere to, conform to.

50.crack down (phrasal verb)

English Meaning - take severe measures against someone or something; clamp down, suppress, restrict, penalize.

51.non-compliance (noun)

English Meaning - failure or refusal to comply with something; disobedience, violation, infraction, infringement.

52.demonstrable (adjective)

English Meaning - clearly apparent or capable of being logically proved; verifiable, provable, obvious, evident.

53.instead of (phrase)

English Meaning - as an alternative to; in place of, rather than, as a substitute for, in lieu of.

54.guilty until proven innocent (phrase)

English Meaning - a presumption that a person or entity is at fault without requiring the accusing party to prove it first; assumed guilty, prejudged, pre-condemned, presumed culpable.

55.approach (noun)

English Meaning - a way of dealing with something; method, procedure, strategy, tactic.

56.measure (noun)

English Meaning - a course of action taken to achieve a particular purpose; step, action, initiative, move.

57.welcome (adjective)

English Meaning - pleasing, agreeable, cheering, refreshing.

58.deserve (verb)

English Meaning - merit, warrant, justify, earn.

59.mention (noun)

English Meaning - reference, remark, statement, observation.

60.substantially (adverb)

English Meaning - significantly, considerably, materially, notably.

61.ease (verb)

English Meaning - alleviate, relieve, mitigate, soothe.

62.discontent (noun)

English Meaning - dissatisfaction, unhappiness, grievance, displeasure.

63.input tax credit (ITC) (noun)

English Meaning - the credit available to a registered person for eligible GST paid on business purchases of goods and services, which can be used to offset output GST liability, subject to statutory conditions and restrictions.

64.mean (verb)

English Meaning - signify, indicate, imply, entail.

65.lead to (phrasal verb)

English Meaning - result in; cause, bring on, produce, prompt.

66.dry up (phrasal verb)

English Meaning - decrease and stop; dwindle, disappear, vanish, fade.

67.working capital (noun)

English Meaning - the capital of a business which is used in its day-to-day trading operations; operating capital, operational funds, running capital, liquid assets.

68.task (verb)

English Meaning - assign a task to; assign, allocate, charge, entrust.

69.committee (noun)

English Meaning - a group of people appointed for a specific function; board, council, panel, commission.

70.implement (verb)

English Meaning - put a decision, plan, agreement, etc., into effect; execute, apply, carry out.

71.arrest (noun)

English Meaning - detention, apprehension, capture, restraint.

72.harassment (noun)

English Meaning - aggressive pressure or intimidation; persecution, intimidation, badgering, torment.

73.tighten (verb)

English Meaning - make something stricter or more rigorous; stiffen, toughen, reinforce, strengthen.

74.around (preposition)

English Meaning - relating to; concerning, regarding, about, on.

75.inspection (noun)

English Meaning - careful examination or scrutiny; examination, check, survey, scrutiny.

76.seizure (noun)

English Meaning - the action of capturing someone or something using force or legal authority; confiscation, appropriation, expropriation, impounding.

77.consignment (noun)

English Meaning - a batch of goods destined for or delivered to someone; shipment, delivery, batch, load.

78.faceless (adjective)

English Meaning - having no identifiable or distinguishing characteristics, often denoting digital, remote processes lacking direct human interface; anonymous, impersonal, remote, automated.

79.assessment system (noun)

English Meaning - the procedure used to calculate and evaluate tax liability; evaluation mechanism, appraisal process, computation framework, review procedure.

80.along the lines of (phrase)

English Meaning - roughly similar to; similar to, like, resembling, approximating.

81.popular (adjective)

English Meaning - favored, well-liked, admired, accepted.

82.faceless system (noun)

English Meaning - an administrative mechanism where proceedings are conducted electronically without physical interface; anonymous framework, impersonal procedure, automated mechanism, remote system.

83.only once (phrase)

English Meaning - happening just a single time; a single time, on one occasion.

84.financial year (noun)

English Meaning - a 12-month period running from 1 April to 31 March in India; fiscal year, accounting year, financial period, budget year.

85.uncertainty (noun)

English Meaning - the state of being uncertain; unpredictability, unreliability, doubt, ambivalence.

86.arise (verb)

English Meaning - (of a problem, opportunity, or situation) emerge or become apparent; emerge, appear, crop up, surface.

87.look like (phrasal verb)

English Meaning - resemble, appear as, seem like, take the appearance of.

88.at the time of (phrase)

English Meaning - during the moment when something occurs; during, upon, concurrently with, coinciding with.