The Hindu Editorial (Revenue riddles) – Oct 07, 2023

Halfway through the financial year, India’s gross revenues from the Goods and Services Tax (GST) stand at over ₹9.92 lakh crore, marking an 11.1% increase over collections between April and September 2022…. For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Revenue riddles) – Oct 07, 2023.

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The Hindu Editorial (Revenue riddles) – Oct 07, 2023:

riddle (noun) – mystery, puzzle, unsolved problem.
inflow (noun) – a flow of a large amount of something to a particular place.
amid (preposition) – in the middle of, surrounded by; during.
broadly (adverb) – usually, commonly; on the whole, in general.
trend (noun) – tendency, direction, inclination.
scrutiny (noun) – examination, inspection, investigation.
gross (adjective) – total, complete, entire, overall, full, aggregate.
mark (verb) – represent, signify, indicate.
kitty (noun) – a sum of something (money/things) made up of small contributions.
fiscal year (noun) – financial year.
tad (adverb) – a very small amount; a little bit; to small degree extent; slightly, somewhat.
kick in (phrasal verb) – begin, start; come into operation, come into effect.
persist (verb) – continue, carry on, remain, stay, linger, last.
quarter (noun) – a period of three months (considered as one-fourth of a year).
context (noun) – circumstances, conditions, situations, factors.
room (noun) – scope, chance, leeway, freedom, latitude, opportunity (for something to happen).
spare (verb) – afford, give, provide.
moderation (noun) – reduction, contraction, lessening, decrease.
central bank (noun) – the banking regulator of a county’s banking system. (e.g. The Reserve Bank of India (RBI) is the central bank of India).
resilience (noun) – the ability to bounce back quickly from difficulties; strength of character, strength, toughness, buoyancy, adaptability.
GST Council (noun) – a federal body (established under article 279A of the Constitution) that aims to bring together states and the Centre on a common platform for the nationwide rollout of the indirect tax reform.
convene (verb) – assemble, meet, gather.
discernible (adjective) – noticeable, visible, recognizable, conspicuous, tangible.
slowdown (noun) – economic decline, recession, slump/depression.
drop (verb) – decrease, lessen, reduce, diminish, decline.
uptick (noun) – a small increase or upward trend.
dip (verb) – decrease, fall/drop, slump.
dues (noun) – outstanding payment, amount due, money owing.
regime (noun) – system.
remit (verb) – send, transmit, pay, make payment of.
moreover (adverb) – in addition, furthermore, besides.
e-invoice (noun) – e-Invoice is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP) to be managed by the GST Network (GSTN).
compliance (noun) – adherence, observance, conformity.
push (noun) – effort, initiative, drive.
at work (phrase) – in action.
distill (verb) – refine, rectify, purify.
gauge (verb) – measure, calculate, determine.
extent (noun) – magnitude, level, degree.
stem from (verb) – originate from, come from, be rooted in, emanate from, flow from, proceed from, result from, be consequent on.
E-Way bill system (noun) – it is for GST registered person / enrolled transporter for generating the way bill (a document to be carried by the person in charge of conveyance) electronically on commencement of movement of goods exceeding the value of Rs. 50,000 in relation to supply or for reasons other than supply or due to inward supply from an unregistered person.
translate (verb) – change, convert, transform.
shrunk past participle of shrink (verb) – lessen, reduce, decrease.
for instance (phrase) – as an example.
puzzling (adjective) – perplexing, mystifying, bewildering.
of course (phrase) – certainly, definitely, obviously, by all means, needless to say.
reflect (verb) – indicate, show, display, demonstrate, represent, exhibit.
intake (noun) – supply; consumption.
hit (verb) – reach a level.
add up (phrasal verb) – increase in amount,
authorities (noun) – officials, officialdom, the people in charge, the government, the administration, the establishment, the bureaucracy, the system.
dig deep (phrase) – to make a lot of effort with one’s (physical, mental or financial) resources.
revenue leakage (noun) – lose revenue; it refers to the loss of revenue from your business, which often goes unnoticed.