The Hindu Newspaper Editorial – Daily Vocab List Date 07­03­2017
The Hindu Editorial – GST Bill: Last mile concerns
Click Here to Read the Hindu Editorial GST Bill: Last mile concerns
The common ground on GST should be accompanied (साथ म) by clarity on the road map.
More than six months after the Constitution was amended to enable the Goods and Services Tax (GST),
the Centre and States have managed to find considerable (काफी मह技�पू ण菀�/िवचारणीय) common ground on
the long­debated (लंबे बहस) indirect tax system, overcoming seemingly ( तीत होता है) irreconcilable
(अप रवत菀� नीय) differences that cropped (कटा आ) up along the way. On Saturday, the GST Council
approved final drafts of the Central and Integrated (को एकीकृत) GST Bills, which should be placed in the
public domain (अिधकार ႀ�े詀�/ भाव ႀ�े詀�/शासन­ႀ�े詀�) as soon as possible. With the law to compensate (कमी
पू ित菀� /ႀ�ितपू ित菀� करना/मु आवजा दे ना) States already cleared, the only pending legislative (िवधान­संबंधी/िवधायी/
िविध िनमा菀� ण)negotiation left for the Council, which is expected (अपे िႀ�त होना) to meet again on March 16,
involves the State and Union Territories’ GST bills. As these bills secure assent (सुरिႀ�त चढ़ाई) from
State Assemblies (िवधान­सभा) and Parliament, and swiftly, the operational rules for the GST must
be readied (तै यार/मु 玀�ैद होना/तĀर होना). Industry would need at least three months after that to prepare for
the transition(प रवत菀� नकाल) from the present system of myriad (असं銀�/बे शुमार/ब त बड़ी सं銀�ा) State,
Central and local levies on goods and services. Moreover (इसके अलावा/से बढ़कर), switching to a new
indirect tax system in the middle of a financial year will bring its own subset of accounting complications. The
Central government should resist(िवरोध करना/बाधा डालना) a pushback (पीछे हटाना) on the roll­out date,
and expedite (शी /जĀी करना) efforts to ensure everyone is ready to get on board the new system with
early clarity on what rates would apply to different goods and services.
Clearer communication of intent is equally essential. In industry circles, the introduction of a peak 40% tax
rate in the GST Bills has set the cat among the pigeons. What started out as a single tax, single market
dream for industry has now degenerated (पितत/ मनमाना) into five tax rates, a cess(उपकर) on top, with
additional uncertainty about tax rates. Just as effective excise and customs duties are lower than legally
specified rates, working in a peak rate for the GST could well be justified. In the current rate structure, a
cess has been proposed on luxury and sin goods over and above the highest GST rate of 28%. The cess
would finance compensation payouts to States for the first five years. After that, it could be replaced with a
higher GST rate to retain the same tax treatment on sin goods, without fresh parliamentary approval. But this
intent should be stated explicitly (琀�Āतया) and rates must not be tinkered with in the GST’s first five years
at least. It is still not too late to settle another major worry for industry that strikes at the very heart
of enterprise. The GST’s anti­profiteering penal provisions are far too vague (अ琀�Ā) and draconian (कठोर/
स着�/बे रहम), and could discourage companies from making efficiency improvements in supply chains if they
are required to pass on the entire (संपूण菀�) benefit to consumers. Lastly, the Chief Economic Adviser has
made an impassioned plea to bring real estate under the GST net, linking it to the war against black money.
A road map for eventually bringing such excluded (बाहर रखा गया) sectors into the GST net could hasten
(जĀी करो/शी ता करना) the process.
Courtesy: The Hindu
List of Most Important words with Hindi Meaning, Synonyms and
Antonyms from The Hindu Newspaper Editorial GST Bill: Last mile
concerns
1.Amend (संशोधन करना/प रशोध करना/सुधरना)
Synonyms: Change, Modify, Adapt, Adjust, Edit
Antonyms: lower, worsen, break
2.Integrate (एकीकृत/जोड़ना/संघिटत)
Synonyms: Combine, Merge, Unite, Blend, Mingle
Antonyms: disarrange, disconnect, disjoin
3.Compensate (कमी पू ित菀� /ႀ�ितपू ित菀� करना/मु आवजा दे ना)
Synonyms: Recompense, Repay, Pay back, Recoup
Antonyms: lose, penalize, take
4.Transition (प रवत菀� नकाल)
Synonyms: Change, Move, Transformation
Antonyms: decline, decrease, idleness
5.Myriad (असं銀�/बे शुमार/ब त बड़ी सं銀�ा)
Synonyms: Innumerable, Countless, Infinite, Numberless, Untold
Antonyms: bounded, calculable, countable, limited
6.Expedite (शी /जĀी करना)
Synonyms: Speed up, Accelerate, Hurry, Quicken
Antonyms: delay, hinder, hurt
7.Vague (अ琀�Ā)
Synonyms: Uncertain, ambiguous, dubious
Antonyms: apparent, certain, clear
8.Draconian (कठोर/स着�/बे रहम)
Synonyms: Harsh, Severe, Strict, Extreme, Drastic, Stringent, Cruel
Antonyms: amenable, gentle, calm, easy