https://www.taxtmi.com/news?id=35726 The document contends that a proposed reduction in a state's share of central taxes constitutes an attack on the federal structure, emphasising that Finance Commission allocations, unreleased special grants, and the exclusion of cesses and surcharges from the divisible pool have materially reduced state revenues. It outlines fiscal impacts-cuts to grants for local bodies, Panchayats, health and disaster funds-and proposes remedies including abolition or inclusion of cesses in the tax pool, authorisation for additional State GST, and constitutional amendment to raise tax-sharing limits and include non-tax revenues in the divisible pool. en-us Fri, 28 Feb 2025 23:01:03 +0530 Fri, 28 Feb 2025 23:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=35726 The document contends that a proposed reduction in a state's share of central taxes constitutes an attack on the federal structure, emphasising that Finance Commission allocations, unreleased special grants, and the exclusion of cesses and surcharges from the divisible pool have materially reduced state revenues. It outlines fiscal impacts-cuts to grants for local bodies, Panchayats, health and disaster funds-and proposes remedies including abolition or inclusion of cesses in the tax pool, authorisation for additional State GST, and constitutional amendment to raise tax-sharing limits and include non-tax revenues in the divisible pool. News - Fri, 28 Feb 2025 23:01:03 +0530 https://www.taxtmi.com/news?id=35726