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In the biggest  GST  rejig yet, tax rates on over 200 items, ranging from chewing gum to chocolates, to beauty products, wigs and wrist watches, were on Friday cut to provide relief to consumers and businesses amid economic slowdown. As many as 178 items of daily use were shifted from the top tax bracket of 28 per cent to 18 per cent, while a uniform 5 per cent tax was prescribed for all restaurants, both AC and non-AC, Finance Minister  Arun Jaitley  said after the GST Council meeting here. Currently, 12 per cent GST on food bill is levied in non-AC restaurants and 18 per cent in air-conditioned ones. All these got input tax credit, a facility to set off tax paid on inputs with final tax. Jaitley said the restaurants, however, did not pass on the input tax credit to customers and so the facility is being withdrawn and a uniform 5 per cent tax is levied on all restaurants without the distinction of AC or non-AC. Restaurants in starred-hotels that charge Rs 7,500 ...

नोटबंदी की 101 उपलब्धियां :- ज़रूर पढ़ें : 01- नोटबंदी के बाद 16.6 खरब नोट सिस्टम में वापस आ गए। 16 हजार करोड़ रुपये को छोड़कर सभी कैश बैंक में जमा हो जाने से बिना हिसाब वाले पैसों का पता चला। 02- अधिकतर कैश के बैंकिंग सिस्टम आने से इस पैसे को कानूनी दर्जा मिला और नोटबंदी अवैध धन रखने वालों के खिलाफ एक्शन लेने का एक जरिया बना है। 03- कासा यानी चालू खाता, बचत खाता जमाओं में कम से कम 2.50-3.00 प्रतिशत की वृद्धि हुई। 04- मुद्रा बाजार की ब्याज दरों में गिरावट हुई और म्युचुअल फंडों के साथ बीमा क्षेत्र में धन का प्रवाह बढ़ा। 05- आयकर विभाग ने संदिग्ध लेन-देन को लेकर 517 नोटिस जारी किए थे, जिसके बाद 1833 करोड़ रुपये की 541 संपत्तियां जब्त की गई। 06- नोटबंदी के बाद 17.73 लाख संदिग्‍ध मामलों की पहचान की गई, जिनमें 3.68 लाख करोड़ रुपये की हेरा-फेरी हुई है। 07- आयकर विभाग द्वारा 9 नवंबर 2016 से लेकर मार्च 2017 के बीच चलाए गए करीब 900 सर्च अभियान में 900 करोड़ रुपये की संपत्ति सीज की गई। 08- नोटबंदी के बाद पता लगा कि 1 लाख 48,165 लोगों ने ही लगभग 4 लाख 92,207 करोड़ रु...

1) Dayanand's tweet: Stupid people like @OfficeOfRG call  # GST  Gabbar Singh Tax. Well informed, world's best economic bodies term it a landmark reform.It is unique in the sense that it has never been implemented in a huge country like  # India . 2) Tweet no. 2 Moody's have upgraded India's ratings due to the economic reforms of past 3 years. Today, inflation is moderate, FE stock is ample, currency stable and growth is picking up. After Ease of Business and Pew, another feather in cap for Modi Sarkar.  https://t.co/NKr46eS06Q 3) Tweet no. 3 Moody's are impressed by GST, the new monetary policy & bankruptcy law, direct transfer scheme, measures to control NPAs & demonetization: which will give long term benefits, more tax payers & digital payments & a strong financial base. Kudos Modi Sarkar.  https://t.co/FeeooPQVka 4) Tweet no. 4 Ratings are a reflection on the economic model of the country. They reflect profitability: f...

पंतप्रधान नरेंद्र मोदींनी आपल्या धडाकेबाज विकास योजनांनी आपल्या देशातील जनतेलाच नव्हे तर आंतरराष्ट्रीय पतनामांकन संस्थांनाही झपाटून टाकलंय। तब्बल 14 वर्षानंतर मूडीज इन्व्हेस्टर्स सर्व्हिस ह्या टॉपच्या संस्थेने भारताची पत वाढवून BAA2 केलीय, जी 2004 च्या BAA3 पेक्षाही उच्च दर्जाची आहे।  त्यामुळेच सेंसेक्स 2 दिवसात तब्बल 750 गुणांनी उसळलाय। मूडीजने इतकं जबरदस्त नामांकन दिल्यामुळे उद्योग जगतातहि उत्साह सळसळलाय। मोदींच्या पाठीवर जणू शाबासकीची थाप अन मनमोहन, चिदंबरम, यशवंत सिन्हा अन टीव्हीवर आणि संपादकीय लिहून आपल्या अकलेचे दिवाळ प्रदर्शित करणाऱ्या असंख्य मोदी द्वेष्ट्यांच्या पाठितच जोरदार रट्टा हाणलाय। नोट बंदी, जीएसटी आणि मोदींनी राबविलेल्या अनेक सकारात्मक योजनांचं मूडीजने जोरदार स्वागत केलंय। त्यामुळ अर्थव्यवस्थेचा आता पर्यंत पोजिटीव्ह असलेला दर्जा स्टेबल ह्या उच्च श्रेणीमध्ये दाखल झालाय। मूडीजच्या पत नामांकानाकडे संपूर्ण जगाचं लक्ष लागलेलं असतं। त्यामुळेच देशात परकीय गुंतवणूक वाढून लाखो रोजगार निर्मिती होते। त्याशिवाय देशातील उद्योगपतीही नवीन उत्साहाने आपल्या विस्त...

India is a nice house on a bad street" - J.P. Morgan    An introductory 5-minute speech was recently given in London at an event, by a young professional of Indian origin. His name is Dhritiman Biswas.   He spoke, extempore,  and the points are reproduced here. The topic was a round-table debate on: "India - is it a gigantic success or a colossal failure?"   This is what he said:  "Ladies and Gentleman,  I am glad I am merely introducing the debate and not participating in it as, in my humble opinion, the question itself is wrong.   India, unlike, many western paradigms cannot be analysed in black and white, in linear equations or algorithms such as this.  We hate Test Cricket yet we are the No.1 Test Cricket ranked country.  Our ranking in gender diversity is 134, yet the majority of our bank CEOs - the most misogynistic yet of industries -  are women. Our health services creak and crum...

The draft rules dealing with insolvency resolution process of individuals and firms was put on the website for public comments with a deadline of 31 October. The rules of the new insolvency  regulations  to bring individual businesses under its purview are likely to be in place soon, an official of the Insolvency and  Bankruptcy Board of India (IBBI) informed. "The rules and regulations for the first phase for Insolvency Regulations for Individuals and Firms is expected to be in place by December this year," IBBI DGM Ranjita Dubey said on the sidelines of Merchants' Chamber of Commerce interactive session. The draft rules dealing with insolvency resolution process of individuals and firms was put on the website for public comments with a deadline of 31 October. IBBI is continuing with interactions on the draft rules and indicated that feedbacks can be considered if they reaches them till November 10. Dubey said initially firms, individual business and corporat...

The group will give its report to the law committee of the council by November 30. This will be reviewed by the committee and forwarded to the council for speedy action The goods and services tax could be in for a revamp that’s more comprehensive than the tweaks that have been made thus far to iron out kinks to make compliance less onerous. The  GST  Council has set up a new advisory group that includes industry representatives to look into such changes. Experts said these may apply to input credit apart from place of supply and valuation provisions. The group will give its report to the law committee of the council by November 30. This will be reviewed by the committee and forwarded to the council for speedy action. “A group has been set up to give feedback about the issues faced by industry with regard to laws, rules and procedures,” said a government official. This is in addition to changes proposed to the composition scheme to bring relief to small businesses and tra...

The warrant has been served in the names of Roy and five non-executive directors -- Swapna Roy, Omprakash Srivastava, Joy Broto Roy, Sushanta Roy and Seemanto Roy  A bailable warrant has been issued against  Sahara  India chief  Subratro Roy  and five directors of the group by the Aurangabad District Consumer Disputes Redressal Forum and Judicial Magistrate First Class for failure to respond to showcause notices / summons served earlier. The warrant has been served in the names of Roy and five non-executive directors -- Swapna Roy, Omprakash Srivastava, Joy Broto Roy, Sushanta Roy and Seemanto Roy. The developer was directed by the forum to return the booking amount to 20 customers but it failed to act on the directives in case of 10 customers, following which they once again moved the forum seeking execution of its order. While hearing the latest plea, the forum issued a notice to the developer, but it failed to respond, following which the forum issued a ba...