THE HINDU Editorial Vocabulary - March 1, 2018 - Topic 2

E-way bills redux: next step for GST Council

The group of ministers assessing technology issues related to the Goods and Services Tax regime has proposed rolling out on April 1 the e-way bill system to track inter-State movement of goods above the value of ₹50,000. A final decision on the launch of the system will now be taken by the GST Council at its next meeting. A plan to start it on February 1 had to be abandoned after the IT network to create the bills crashed in its first few hours after generating about five lakh bills. 

The government decided to defer its roll-out till the technical glitches, like those businesses faced while filing online returns on the GST Network initially after its July 1 roll-out last year, were removed. For intra-State goods movement, the government had said all States must launch their own e-way bill systems by June 1. Now the ministerial group headed by Bihar Finance Minister Sushil Modi has proposed that instead of bringing all States and Union Territories on board together, introducing intra-State e-way Bills in four or five at a time is better. For businesses with operations across the country, this proposal will pose a fresh compliance headache as some States may require e-way Bills for internal movement of goods while others will not. Industry already has several reservations about the e-way bill regime, including the norm that such bills are generated for all goods travelling 10 km from the point of origin.

The government’s haste is understandable, given its fiscal compulsions. After a monthly inflow of over ₹90,000 crore in the first three months of the tax regime, revenue collections dipped. From a peak of ₹92,283 crore in July 2017 — that the Centre reckoned was adequate to deal with its revenue targets and compensate States for revenue losses — GST collections between October and January averaged ₹84,294 crore per month. This may be partly because of the large-scale rationalisation of tax rates carried out recently, but registered taxpayers are also finding ways to avoid tax dues. Data for January bear this out — about 69% of the over one crore registered businesses filed returns, with wide variations across territories. In Punjab, 83% taxpayers filed returns, while industrially developed States, including Maharashtra and Tamil Nadu, didn’t fare as well. This disparity must be factored in by the GST Council when it considers proposals for a staggered launch of the intra-State e-way bill system. Boosting compliance is critical for further rationalisation of multiple GST rates, the Finance Minister has said. To achieve that goal, it must be ensured that States and industry are comfortable with the e-way bill regime, and that the IT backbone doesn’t crash this time.

Vocabulary

Assess: evaluate or estimate the nature, ability, or quality of.

Example: The committee must assess the relative importance of the issues

Synonyms: evaluate, judge, gauge, rate, estimate, appraise, consider

Decision: a conclusion or resolution reached after consideration.

Example: I'll make the decision on my own

Synonyms: resolution, conclusion, settlement, commitment, resolve, determination

Antonyms: indecisiveness, indecision

Abandoned: having been deserted or cast off.

Example: An abandoned car

Synonyms: deserted, forsaken, cast aside/off, jilted, stranded, rejected

Antonyms: inhibited, inhabited

Crashed: collide violently with an obstacle or another vehicle.

Example: The stolen car she was riding in crashed into a tree

Synonyms: smash into, collide with, be in collision with, hit, strike

Glitches: a sudden, usually temporary malfunction or irregularity of equipment.

Example: A draft version was lost in a computer glitch

Synonyms: hemipterous insect, glitch, hemipteron, germ

Propose: put forward an idea or plan for consideration or discussion by others.

Example: He proposed a new nine-point peace plan

Synonyms: put forward, suggest, submit, advance, offer, present

Compliance: the action or fact of complying with a wish or command.

Example: They must secure each other's cooperation or compliance

Synonyms: contour, conformation, accord, residency

Antonyms: disobedience, noncompliance

Regime: a system or planned way of doing things, especially one imposed from above.

Example: Detention centers with a very tough physical regime

Synonyms: system, arrangement, order, pattern, method, procedure

Haste: excessive speed or urgency of movement or action.

Example: Working with feverish haste

Synonyms: speed, hastiness, hurriedness, swiftness, rapidity, quickness

Reckon: establish by counting or calculation; calculate.

Example: His debts were reckoned at $300,000

Synonyms: calculate, compute, peg, work out, put a figure on, figure

Compensate: give something, typically money, in recognition of loss, suffering, or injury incurred; recompense.

Example: Payments were made to farmers to compensate them for cuts in subsidies

Synonyms: recompense, repay, pay back, reimburse, remunerate

Antonyms: absolve, acquit, excuse, forget, forgive, neglect

Ensure: make certain that something shall occur or be the case.

Example: The client must ensure that accurate records be kept

Synonyms: make sure, make certain, see to it, check, confirm, establish, verify

Comfortable: providing physical ease and relaxation.

Example: Invitingly comfortable beds

Synonyms: cozy, snug, warm, pleasant, agreeable, restful, homelike

Antonyms: narrow, tough, uncomfortable, bad, ill-fitting, painful, poor