Sunday, June 4, 2017

GST: Traders body asks FM to lower rates for Horlicks, Complan, butter, sanitary napkins

GST
Ahead of a crucial meeting of Centre and state ministers on goods and services tax (GST), traders’ body CAIT has urged finance minister Arun Jaitley to review the levy on food items including Bournvita, Horlicks, Complan, butter, ghee and sanitary napkins.
The GST Council, headed by Jaitley, will meet on Saturday to finalise the GST rates for some of the pending items before the country’s biggest tax reform is implemented from July 2017.
“Malt-based products like Bournvita, Horlicks, Complan, Boost and AmulPro and other similar products, which are consumed by children, have been placed at 28%. The GST Council should consider a lower rate for these items,” Confederation of All India Traders (CAIT) secretary general Praveen Khandelwal told HT on phone.
In a letter to Jaitley, CAIT said the proposed tax rate on tractors and auto spares should be lowered for the interest of farmers.
with thanks : Hindustan Times : LINK : for detailed news.

Spare parts traders protest 28% GST

Image result for GST

NEW DELHI: Traders of Asia's largest spare parts market Kasmiri Gate on Monday protested against the 28% GST on car spare parts, tractor parts and car accessories. They said the hike was exorbitant and likely to affect the growth of their business.

Traders from Mori Gate who are engaged in tractor parts' business also participated in the protest and marched through the market. "Only 12% VAT is charged on auto parts and car accessories, which has been increased to 28%," said Vishnu Bhargava, general secretary of Automotive Parts Merchants' Associations.

with thanks : Times of India : LINK : for detailed news.

GST rates for gold, garments, footwear out. Here’s how much you have to pay

GST
The Centre finalised on Saturday goods and services tax (GST) rates for items such as gold, packaged food, biscuits, footwear and solar panels – besides some pending rules – paving the way for the country’s biggest tax reform from July 1.
The GST Council has tried to keep the tax rates low for most items because the Narendra Modi government wants to discourage inflation and nurture economic growth, which slipped to 7.1% in 2016-17 from 8% a year ago.
THE NEW FIGURES UNDER GST
  • The new regime will have four slabs of 5%, 12%, 18% and 28%
  • Packaged food has been fixed at 5%, while biscuits will be taxed at 18%
  • Gold will be taxed at 3% as against the current tax incidence of 2-6%
  • Apparel costing below Rs 1,000 will be taxed at 5%
  • Footwear below Rs 500 will be taxed at 5% while the rest would come in the 18% bracket.
  • Beedi and beedi leaf will not attract a cess over and above the tax of 28%
  • Most food items – including wheat, rice and milk excepted from the tax bracket
  • Sugar, tea, coffee and edible oil, would attract 5% tax
  • GST Council decided the tax rates for 1,200 goods and 500 services
The council will meet again on June 11 to complete all the processes required for a smooth rollout. The new regime will have four slabs of 5%, 12%, 18% and 28%, with the intention of unifying the nation into a single market.
Union finance minister Arun Jaitley said the GST rates for packaged food has been fixed at 5%, while biscuits will be taxed at 18%. Gold will be taxed at 3% as against the current tax incidence of 2-6%, varying from state to state, while it will be 0.25% for rough diamonds.
“Gold currently has an excise rate of 1% and states charge 1% VAT... keeping these taxes in mind, and after a lot of debate in the GST Council, we have reached a consensus on 3% for gold and gold jewellery,” Jaitley told reporters after a meeting of the GST Council.
Silk and jute will be exempt, but cotton and natural fibre will be taxed at 5%, man-made fibres at 18%, and apparel costing below Rs 1,000 will be taxed at 5%. Footwear below Rs 500 will be taxed at 5% while the rest would come in the 18% bracket.
with thanks : Hindustan Times : LINK : for detailed news.

GST makes India inhospitable, says tourism sector

Owners of hotels, restaurateurs and tourism-related facilities disappointed with high rates, say GST is unviable

The rates announced by the Goods and Services Tax Council on Friday has comes as a shocker to the hospitality industry. Four tax slabs of 5%, 12%, 18% and 28% have been fixed for services including telecom, insurance, hotels and restaurants.
Expressing disappointment, the hospitality sector said the rates are too complex, high and uncompetitive, and said they will be approaching Union Finance Minister Arun Jaitely and Union Tourism Minister Mahesh Sharma for a review of the rates. The GST Council announced that non-AC restaurants will charge 12% GST on food, AC restaurants and those with liquor licence 18% per cent, and five star hotels will charge a GST of 28%.
Dilip Datwani, president, Hotel and Restaurant Association, Western India (HRAWI) told The Hindu, “The government should realise that taxes in neighbouring countries like Myanmar, Thailand, Singapore, Indonesia range between 5% and 10%. We cannot afford to have this complex and high-rate GST. This is simply not viable. Tourists will simply skip India.”
with thanks : The Hindu : LINK : for detailed news 

GST to make small cars and hybrids more expensive in India

2017 Toyota Prius (12)
With the announcement of the much anticipated Goods and Services Tax (GST), there has been mixed reactions from the automobile fraternity. And the reason for that is the varying tax structure imposed on different segment of vehicles sold in India.
The GST structure will be replacing the central excise duty and service taxes that are collected by the Central government. The segment that benefits from the newly announced GST structure are the large vehicles with a displacement greater than 1,500cc as well as SUVs with a length of more than 4 metres. This category of vehicles will attract 15 per cent cess over the peak rate of 28 per cent making it a total of 43 per cent. Presently, the central excise of 27 per cent is applied along with a value added tax (VAT) of 12.5 to 14.4 per cent. In addition to these taxes, there is also state taxes, octroi and infrastructure cess that is levied. The total tally of these taxes goes to up to 45 per cent.
The new GST structure has also brought hybrid cars under the same slab as that of large vehicles meaning a tax of 43 per cent will be levied on them. However, electric cars will attract a tax of 12 per cent. This has been seen as an unfair decision in favor of hybrids stated some in the industry. Hybrid cars employ cleaner and more efficient technology when compared to the conventional petrol and diesel powered vehicles.
With thanks : OverDrive : LINK : for detailed news.

Kamal Haasan protests 28% GST rate, threatens to quit films if not reduced

Kamal Haasan
Veteran actor Kamal Haasan has joined the film industry's protest against the proposed Goods and Services Tax (GST) of 28 per cent. The actor lashed out at the Centre and sought a lower tax slab for the entertainment industry.
ANI reports that the actor held a press conference on Friday, where he said, "When it comes to the pride of India, it was always regional cinema that stood up for awards in international arenas. Regional cinema contributes to the might of the country. You can't reduce that through taxation."
With thanks : India Today : LINK : for detailed news.

Saturday, June 3, 2017

IMMORAL POLITICAL SAVAGERY - HOUSE OF CARDS : SEASON 5 : EPISODE 1 : REVIEW

Frank Underwood is coming to India with the television premiere of House Of Cards Season 5 on Saturday, 3rd June, 5 PM onwards, only on Zee Café!


A review of the political series, "Home Coming of Terror", a tale of a pragmatic principal character who is freaking obsessed to achieve the zenith of success even by embracing immoral means. The scene commences, where a journalist is killed, while Frank (Kevin Spacey) and Claire Underwood (Robin Wright), try to manipulate the attack to quench the thirst of his narcissistic lust.  

In a broaden horizon, it begins with a telecast, where Claire is saying, You have nothing to be Afraid of. We are here to protect you”.  She continues, “There’s a lot of noise out there, a noisy press that’s choosing to dwell on the past instead of what’s happening right now,”. But as soon as the story succeeds, it is revealed, that it was the deliberate recording of an election telecast.
The scene shifts to the American Congress, where a senate wants a debate on the actions of the President and his declaration of war on terror. But the reply he gets from the Frank was, “ I am on my way to the funeral of an American patriot. A good man. A husband. A father who was beheaded on American soil. And this chamber chooses to debate me.”
Even though the creator of the series, Beau Willimon is no more connected with the series, the first episode of the, House of Cards,  season 5, still looks as smart as earlier. It shows the President of the United States of America, as a strong and angry person, with no regard to the political values. The show almost matches with the working style of Donald Trump, the existing president of America.
Frank tries to overcome the growing popularity of his Republican rival Will Conway (Joel Kinnaman), and manipulates the situation, by waging a war against the terrorist organization ICO / ISIS, with the sole aim of creating fear in the general public so that he could retain his presidency in the coming elections.
It is a manipulative story of Frank Underwood's political passion and his longing to conquer presidency at any cost, alike Donald Trump. Deceitful traits of his inner self has caught the centre of attraction. He is truly an opportunity seeker, and much more concerned with his own reelection as the President. He notably exploits the issue of the insecurity of the people, in his own favour, just to repossess his popularity as well to keep on holding the power.
Frank Underwood is coming to India with the television premiere of House Of Cards Season 5 on Saturday, 3rd June, 5 PM onwards, only on Zee Café!You can view more details about the new series at  https://www.facebook.com/ZeeCafe.  #HOConZCafe

Sunday, May 28, 2017

Various Panel Discussions on Times now - Mirror now : B S Vohra



















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