The Hindu Editorial Vocabulary 3rd September 2024 is an effective tool for learning new words and their contextual meanings regularly. Candidates can fully utilize this free resource daily to improve their vocabulary knowledge, especially those preparing for government exams like the IBPS PO, SBI Clerk, SSC, and Others.
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The GST Council could do more to smoothen the tax regime
The Goods and Services Tax (GST) Council, entrusted with overseeing (having the responsibility of making sure that something is done correctly) the seven-year-old indirect tax regime, is slated (scheduled or planned) to meet on September 9. This would be its second sitting in under three months, after a nine-month pause. The Council, whose parleys (discussions or negotiations) steered (guided or directed) by the Union Finance Minister with States’ representatives are critical for resolving taxpayer challenges and setting broader policy direction, ought to meet regularly at such frequency. A key expectation from the upcoming meet revolves around the much-awaited review of GST’s complex, multiple-rate structure. In June, the Council resolved to take stock of the progress made on this front by a ministerial group (GoM) appointed in 2021, and deliberate (consider carefully) on the path forward. However, going by State Ministers’ recent submissions to the GoM, progress is likely to be slow and arduous (requiring a lot of effort; difficult), with most members signalling an aversion (a strong dislike or unwillingness) to shake things up when revenues are healthy. Ideally, the Council should at least set a timeline for concluding the group’s deliberations and nudge (encourage gently) it to come up with a couple of alternatives for the revamped rate structure if consensus is difficult to attain. These could then be deliberated over by the Council, possibly with some public feedback incorporated. Beyond the broader revamp (the process of improving or updating something), the Council could also be briefed this time on the feasibility (the state of being easily or conveniently done) of reviewing the 18% GST levy on individual goods and services such as health insurance and life cover, that have attracted attention recently within and outside Parliament. These have been assessed by officials in the past too, without resulting in any change in stance.
The inclusion of items such as electricity, petroleum, and alcohol into the GST net, something that industry and economists have been advocating (publicly recommending or supporting) for years, may be even more tricky. States gave up a lot of taxation power for the GST’s rollout, and are unlikely to be amenable (open and responsive to suggestion; easily persuaded) to yielding further space, particularly as quite a few States’ ties with the Centre are “acrimonious” (bitter and angry), as former Chief Economic Adviser Arvind Subramanian recently pointed out. While it will be instructive (providing useful information or insight) to see the direction the Council takes on these issues, greater monitoring of the nitty-gritty (the most important aspects or practical details of a subject or situation) of GST’s day-to-day functioning is needed as well. Revenue trends remain healthy with about 10% growth this fiscal but the pace of refunds to taxpayers has been unusually uneven. Net GST receipts rose under 7% in three of the last five months but jumped about 15% in months when refunds dropped sharply. The Council must not overlook such details, though they may seem relatively obscure (not clearly expressed or easily understood) in the bigger picture. This could help prevent ungainly (clumsy; awkward) twists for the industry, be it registration or refund challenges, or the spectre (a threat or danger) of confusion created by recent large tax demands on IT majors.
Upskill yourself and enhance your vocabulary knowledge. Candidates should begin learning new words daily with Hindu Editorial Vocabulary on 3rd September 2024.
Here are the synonyms and antonyms of all the difficult words in Hindu Vocab Master for 3rd September 2024.
Word | Synonyms | Antonyms |
Overseeing | Supervising, Managing, Directing, Monitoring | Neglecting, Ignoring, Overlooking, Disregarding |
Slated | Scheduled, Planned, Expected, Set | Unscheduled, Unexpected, Postponed, Deferred |
Parleys | Negotiations, Discussions, Talks, Consultations | Conflicts, Disagreements, Arguments, Confrontations |
Steered | Guided, Directed, Led, Navigated | Misguided, Misled, Confused, Strayed |
Deliberate | Contemplative, Thoughtful, Intentional, Considered | Hasty, Rash, Impulsive, Careless |
Arduous | Difficult, Challenging, Strenuous, Tough | Easy, Simple, Effortless, Light |
Aversion | Dislike, Distaste, Repulsion, Reluctance | Attraction, Liking, Fondness, Preference |
Nudge | Prod, Push, Shove, Jostle | Ignore, Overlook, Neglect, Avoid |
Revamp | Renovate, Overhaul, Update, Improve | Deteriorate, Worsen, Maintain, Preserve |
Feasibility | Viability, Practicality, Achievability, Possibility | Impracticality, Unfeasibility, Infeasibility, Impossibility |
Advocating | Supporting, Promoting, Endorsing, Championing | Opposing, Denouncing, Criticizing, Condemning |
Amenable | Agreeable, Willing, Open, Responsive | Uncooperative, Resistant, Reluctant, Hostile |
Acrimonious | Bitter, Hostile, Resentful, Caustic | Friendly, Amicable, Cordial, Pleasant |
Instructive | Educational, Informative, Enlightening, Beneficial | Misleading, Uninformative, Confusing, Deceptive |
Nitty-gritty | Basics, Essentials, Fundamentals, Details | Superficiality, Irrelevance, Complexity, Abstract |
Obscure | Vague, Unclear, Ambiguous, Hidden | Clear, Obvious, Explicit, Revealed |
Ungainly | Clumsy, Awkward, Uncoordinated, Inelegant | Graceful, Agile, Coordinated, Poised |
Spectre | Threat, Danger, Menace, Worry | Assurance, Safety, Security, Comfort |
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