This refers to the edit “Beautiful game” (December 20). The charm of World Cup 2022 matches including the final would remain etched in our memory. Argentina were overcome by the unfancied Saudi Arabia in their opening game, but they came on top due to inimitable teamwork. But France lost the final due to lack of it — even the hat trick by Mbappe did not stir them enough.

The results had a high share of surprises. Favourites like Germany and Belgium were eliminated in the group stage while Japan and South Korea progressed. Also the much-loved Brazil were defeated by Croatia and Portugal by Morocco.

An unexpected number of matches were decided by penalty shootouts. In the battle of nerves between two players Argentina’s goal keeper, Emiliano Martinez, scored high.

Lastly, credit should also go to Qatar, a country of less than three million, which hosted the matches competently and admirably.

YG Chouksey

Pune

GST’s challenges

This is with reference to “GSTN can resolve MSME payment woes”, (December 20).

The recently implemented new GST return filing system has simplified the process of filing returns. GST from the revenue point of view is important for the government, even as the assured protection to States for any revenue loss after GST implementation comes to an end.

The provisions for time of supply of service for small service providers should be amended so that GST in respect of advance money received by the service provider is taxed only at the time of invoice raised or service received, whichever is earlier. This will benefit the small service providers and improve their working capital.

GST’s working capital-related aspects will help smoothen the challenges and go a long way in making it a Good and Simple Tax for the smaller entities too.

P Sundara Pandian

Virudhunagar

The NPA headache

The ICRA report about the projected fall in banks’ gross NPAs to 3.9-4.3 per cent by FY24 though welcome depicts only one side of the story. Bank’s bad loans being sold to asset reconstruction companiesdoes not augur well to banks.

The Finance Minister in Parliament said loans worth ₹10.09 lakh-crore were written off during the last five years and hardly 13 per cent of written off loans worth ₹1.03 lakh-crore could be recovered. Further the news on 50 defaulters defrauding banks of about ₹1 lakh-crore is depressing.

But the loan-write-offs and the subsequent bank recap is a drain to taxpayer’s money. The anomaly needs to be set right

Srinivasan Velamur

Chennai

The economic road-map

This refers to the article ‘Is India on track to becoming a $5 trillion economy?’ (December 20), it’s not difficult for a country like India to become a $5 trillion economy given its one billion-plus population and its high average and marginal propensity to consume. For sustained growth, India has to make the best use of its demographic dividend which stands at around 356 million today.

The state has to transform the youth into invaluable human capital by providing skill-based education and sound medical facilities at nominal costs on a sustained basis.

S Ramakrishnasayee

Chennai

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