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Teluguhero Side Hero Username: Teluguhero Post Number: 2010 Registered: 04-2008 Posted From: 50.156.143.166 Rating: |
yes wait for few more years. New law to recover blackmoney from secret accounts likely: Subrmanian Swamy http://www.livemint.com/Politics/WBvZrkPEZ19zsqCSCpcETL/Subr amanian-Swamy-says-government-to-bring-new-law-for-black.htm l | ||
Sannayi_nokkulu Side Hero Username: Sannayi_nokkulu Post Number: 9242 Registered: 06-2014 Posted From: 68.100.234.172 Rating: N/A |
nalla dhanam venakki teeskostunnada? sachipotava , avineethi ga batukutava okkate option ante alochinchakunda chachipotaa ane type cbn - OT | ||
Teluguhero Side Hero Username: Teluguhero Post Number: 2009 Registered: 04-2008 Posted From: 50.156.143.166 Rating: N/A |
http://www.relakhs.com/gst-goods-services-tax-in-india/ What is GST? It has been long pending issue to streamline all the different types of indirect taxes and implement a âsingle taxationâ system. This system is called as GST ( GST is the abbreviated form of Goods & Services Tax). The main expectation from this system is to abolish all indirect taxes and only GST would be levied. As the name suggests, the GST will be levied both on Goods and Services. GST was first introduced during 2007-08 budget session. On 17th December 2014, the current Union Cabinet ministry approved the proposal for introduction GST Constitutional Amendment Bill. On 19th of December 2014, the bill was presented on GST in Loksabha. The Bill will be tabled and taken up for discussion during the coming Budget session. The current central government is very determined to implement GST Constitutional Amendment Bill. GST is a tax that we need to pay on supply of goods & services. Any person, who is providing or supplying goods and services is liable to charge GST. Benefits of GST Bill implementation The tax structure will be made lean and simple The entire Indian market will be a unified market which may translate into lower business costs. It can facilitate seamless movement of goods across states and reduce the transaction costs of businesses. It is good for export oriented businesses. Because it is not applied for goods/services which are exported out of India. In the long run, the lower tax burden could translate into lower prices on goods for consumers. The Suppliers, manufacturers, wholesalers and retailers are able to recover GST incurred on input costs as tax credits. This reduces the cost of doing business, thus enabling fairer prices for consumers. It can bring more transparency and better compliance. Number of departments (tax departments) will reduce which in turn may lead to less corruption More business entities will come under the tax system thus widening the tax base. This may lead to better and more tax revenue collections. Companies which are under unorganized sector will come under tax regime. Challenges for implementing Goods & Services Tax system The bill is yet to be tabled and passed in the Parliament To implement the bill (if cleared by the Parliament) there has to be lot changes at administration level, Information Technology integration has to happen, sound IT infrastructure is needed, the state governments has to be compensated for the loss of revenues (if any) and many more.. GST, being a consumption-based tax, states with higher consumption of goods and services will have better revenues. So, the co-operation from state governments would be one of the key factors for the successful implementation of GST Since GST replaces many cascading taxes, the common man may benefit after implementing it. But it all depends on âwhat rate the GST is going to be fixed at?â Also, Small Traders (based on Annual Business turnover) may be exempted from it. France was the first country to introduce this system in 1954. Nearly 140 countries are following this tax system. GST could be the next biggest tax reform in India. This reform could be a continuing process until it is fully evolved. We need to wait few more months for more details on Goods & Services Tax system. | ||
Teluguhero Side Hero Username: Teluguhero Post Number: 2008 Registered: 04-2008 Posted From: 50.156.143.166 Rating: N/A |
What is GST (Goods & Services Tax) : Details & Benefits http://www.relakhs.com/gst-goods-services-tax-in-india/ | ||
Bharat Side Hero Username: Bharat Post Number: 2540 Registered: 06-2015 Posted From: 199.90.60.4 Rating: N/A |
Constitutional amendments cannot be passed in joint sessions. | ||
Andhrawala Legend Username: Andhrawala Post Number: 52328 Registered: 03-2008 Posted From: 152.51.56.1 Rating: N/A |
GST benefits enti? assalu naaku ardham kaaledhu Modi could have got it approved in the join session of parlaiment where both LS and RS members are tehre kathaa? what is stopping him to do that?? does he need to wait this long?? Mango people ki advantage endhi becos of GST No Signature | ||
Sachin Legend Username: Sachin Post Number: 41306 Registered: 04-2008 Posted From: 108.171.130.163 Rating: |
inka enni taxes add chesthavraa erri naa dash | ||
Bharat Side Hero Username: Bharat Post Number: 2539 Registered: 06-2015 Posted From: 199.90.60.4 Rating: N/A |
GST implementation if approved might be messy in the last 2 years of govt. I hope Modi considered its implications. Already prices are rising fast. | ||
Teluguhero Side Hero Username: Teluguhero Post Number: 2007 Registered: 04-2008 Posted From: 50.156.143.166 Rating: |
http://www.firstpost.com/politics/gst-bill-pm-modi-has-launc hed-the-brahmastra-its-time-congress-gave-in-2873902.html GST Bill: PM Modi has launched the Brahmastra; itâs time Congress gave in In an interview given to The Economic Times, Prime Minister Narendra Modi has launched the Brahmastra on the Congress party - the last hurdle for him to claim the Goods and Services Tax (GST) trophy. âSo much so, the obstruction of GST is now not a Lok Sabha issue but has become a Gram Sabha issue! The public in states like UP, Bihar and West Bengal will be the biggest beneficiaries. Therefore, I do not think any political party will try to commit suicide by opposing GST,â said Modi. With the monsoon session of Parliament just a few days away (slated to begin on 18 July), Modi realizes the criticality of building consensus for the crucial Bill. Also, there is widespread disappointment among investors and economy watchers with regard to the Modi governmentâs ability to pull off large-ticket reforms. The latest such comment has come from Morgan Stanley Investmentâs Ruchir Sharma, who said he didnât have any great expectations from the Modi government with respect to big reforms since the government is already past its prime. Modi realises that the passage of GST is crucial for him to silence his critics. Moreover, with the GST gaining tremendous national interest, Modi realises that the best political strategy is to isolate the âpolitical party' as the lone hurdle standing between the economy and the biggest tax reform of the decade. Except the Congress, most other major parties have given the nod for GST, which is expected to help India create a uniform taxation regime subsuming several different taxes and offering clarity to overseas investors. With the new regime likely to help the country broaden the tax base, the GDP is expected to get an additional boost of 1.5 percent to 2 percent boost in due course. True, the BJP canât entirely play the victim on GST. The BJP had hard-fought to block the crucial piece of reform when it was in opposition and one of the BJP leaders who were hell bent against GST was none other than Modi himself in his earlier avatar as Gujarat chief minister. But, at this stage, that canât be the reason for the Congress to take the revenge. The party, on the contrary, could use a temporary political defeat on the GST war as a tool to rebuild its shattered image. There are a few reasons why it should support the GST now. For one, so that the country wonât miss the April 2017 deadline and can give time to state governments pass their own GST legislation and put in place the systems necessary for the final roll-out. Second, to put the economy on the high growth path broadening the tax base since India is in a sweet spot now with rest of the world firmly gripped by a prolonged phase of slowdown. This is India's chance to get on the big-ticket reforms road and consolidate its position among the emerging markets. Also, the numbers are improving for the BJP in the Rajya Sabha post the recent polls to the Upper House. If the BJP manages to get all regional parties on board, its chances to crack the GST puzzle is higher now. But, the Congress can still play spoilsport since the GST Bill is a constitutional amendment and the house needs two-thirds of the support of the Upper House. If one goes by the recent comments of Congress leader Abhishek Manu Singhvi, the Congress isnât yet in a consensual mode on GST. âThe sequence of the BJPâs conduct smacks of hypocrisy,â senior Congress leader Abhishek Manu Singhvi told The Hindu. âHaving vehemently the opposed GST bill for two-and-half years, it (BJP) was embarrassed to find that two of the three Congress demands were endorsed by the governmentâs own Chief Economic Advisor,â Singhvi said. Singhvi is correct. The Arvind Subramanian panel had suggested in favour of the Congressâ two demands on GST â removing the inter-state levy and creation of a joint dispute resolution mechanism. But, those two have never been the bone of contention on GST really. The deadlock was on the third condition â capping the GST rate in the Bill. But, most experts have ruled against such a provision since capping the rate will make any future changes difficult, say in the event of an emergency with respect to a specific region. Hence, Singhviâs argument that all the governments should be âprevented from increasing it beyond a maximum,â by including in the constitution, might not be a workable idea. Modi knows very well that the Congress party doesnât have a strong case to block the GST any longer, especially after most states have agreed to the broader contours of the Bill and Modi seems to have gained confidence of regional powers such as TMC and AIADMK. Now, read Modiâs comments in this backdrop. âThe states and especially the consuming states now understand the benefits of GST. Most of the states have clearly understood that GST will benefit the poor through buoyancy of revenue, enabling better services to them. The poorest states will benefit even more.â Especially, the UP-elections due next year, it makes immense political sense for the PM to highlight UP as a big beneficiary of the tax reform. Modi has used the right weapon. The PM would want to push ahead the big-ticket reforms before it is too late and to prove the likes of Ruchir Sharma wrong. Even the cabinet reshuffle should be seen as an enabler to achieve that. By isolating the Congress, the smart political strategist in Modi has hit the Congress where it hurts mostâthe issue of the larger national interest. Modi has launched the Brahmastra. Itâs high time the Gandhis gave in and see an opportunity in the crisis. |
