Delhi: The government on Tuesday said that the services sector will not be charged extra tax levied during the transitional period of the implementation of the goods and services tax (GST). According to Rashmi Varma, special secretary, revenue, in the finance ministry, the one percent additional tax which is proposed to be levied during the transitional period of GST for two years will not impact services sector.
Verma, who was addressing the CII (Confederation of Indian Industry) Big Picture summit held here, elaborated that the additional levy will only be charged on the manufacturing sector.
The special secretary assured the media and entertainment (M&E) industry that the soon-to-be-implemented GST will be a game changer for the sector.
“Multiplicity of tax will go in one stroke. Entertainment, services and goods tax both at the Centre and states will be built into one — making compliance hassle free.”
However, the entertainment tax levied by local authorities like panchayats and municipalities will remain, she clarified.
“But, the share of such taxes to the total tax collected would be insignificant. Close to 99 percent of the taxes levied under the Centre and state dispensation would be merged with GST,” Verma said.
She assured the industry that under the GST regime, goods and services would be taxed uniformly.
The industry had voiced concerns over the lack of definitional clarity between goods and services, tangible and intangible goods.
Verma said all industries would be eligible to take credit under GST to set off against other tax liabilities.
“We are working on the transition roadmap, so that the change-over hiccups will be minimal and if there are any concerns remaining, the GST Council, which will be set up after the constitutional amendment, will look into it and take corrective actions,” she said.
Besides the ongoing process, the top finance ministry official mentioned that a fourth draft proposal on returns will be put in public domain to seek the views of all stakeholders.
The ministry plans to place a model legislation in public domain by mid-November. It also plans to hold regional workshops to elicit the views of the industry associations at the apex and state levels.
Verma said there would not be any concessions or incentives schemes under the GST regime.
“The states which want to continue with the fiscal concessions for specified sectors could do so, setting apart resources from their own kitty,” she said.
She added that no final decision has been taken on GST rate.
“The slabs under the GST would be minimal – one low and the other high and in between a standard slab – to keep the cascading effect to the minimal and easy to comply.”
“It is not in the sinful list, I can assure you that,” Verma added
New Delhi, October 6, 2017 : The Goods and Services Tax (GST) Council is actively discussing relief measures for traders, including quarterly return filing and increasing threshold limit for Composition Scheme, sources said on Friday.
“Council members requested quarterly return filings for businesses with turnover less than Rs 1.5 crore,” a Council member said on the sidelines of its ongoing meeting.
The state Finance Minister said that the Council was discussing the issues being faced by small traders.
Raising the threshold limit for Composition Scheme from the current Rs 75 lakh to Rs 1 crore is also under discussion.
“Rs 1 crore threshold in the Composition Scheme is also supported by the GST Council members,” he said. (IANS)
Navratri is a nine day festival primarily dedicated to Goddess Durga
The festival combines ritualistic puja and fasting along with cultural activities for nine consecutive days and nights.
This year the festival will be celebrated from September 21 to 29
Mumbai, August 31, 2017 : Navratri is a festival which can be celebrated by all, irrespective of their caste or religion, says one of the organizers of Ruparel Navratri Utsav 2017 here.
Ruparel Navratri Utsav 2017, co-organised by Ruparel Realty and Showbizz Entertainment, will be held from September 21 to 29. Popular singer Falguni Pathak is set to perform at the festival.
Asked if Muslims are barred from such events, Santosh Singh, one of the organizers and director of Showbizz Entertainment, told IANS: “Garbas are not meant for Hindus only. There are no divisions based on caste or religion. Everyone should be welcome, and in Mumbai, they are.”
The festival will take place at the 13-acre Late Shri Pramod Mahajan Sports Complex of Borivli, Mumbai. It means loads of people would turn up for the event. What are the security measures taken by them?
“We are not checking anyone’s identity, but we have deployed extra security and stringent crowd management measures, especially for women, so that they can enjoy the festival while feeling safe and relaxed,” said Singh.
Have demonetisation and GST taken a toll on Navratri celebrations?
“We don’t know about others, but for us, this year the Navratri festival will be interesting because after demonetization and GST, it will be the first religious and social programme that will bring lakhs of people together,” he said. (IANS)
We have to take the country ahead with the determination of creating a ‘New India’
His government is serious about tackling various national security issues
I want to proudly tell people that within just three years, we have recovered black money of Rs 1.25 lakh crore
New Delhi, August 15, 2017: It was Prime Minister Narendra Modi’s fourth Independence Day speech from Red Fort, Delhi. He talked about a variety of issues like GST, demonetisation, terrorism, and triple talaq among others. Here are the top 10 points of Modi’s speech:
A New India will be our democracy’s biggest strength
During his speech, Modi expressed that India should create a new India before 2022, the 76th year of Independence. Modi said, “We have to take the country ahead with the determination of creating a ‘New India’. Let us come together to create an India free of corruption, nepotism, casteism, communalism, and terrorism. Let us build a country which is clean, healthy and is self-determined.”
From Quit India Movement to a United India Movement
Modi has previously spoken about the Quit India Movement during the monthly address of Mann ki Baat as well as the special session of the Parliament to commemorate the event. During the Independence Day speech, he once again brought back the historic event.
Asking Indians to take inspiration from the 1942 movement, Modi said, “Within five years, the British had left the country because of our unity. We have to take a sankalp of new India and take the country forward.” Remembering the contribution of Mahatma Gandhi in the freedom movement, “There was a Mohandas Karamchand Gandhi once. People with cotton in their hands support Gandhi and eventually, the country got freedom,” he added. He said on the Independence Day that the need of today’s India is Bharat Jodo, a united India.
2018: A crucial year for India
Modi put special emphasis on January 1, 2018, telling Indians that 2018 will be the year that will mark the coming of age of a whole generation, the generation which will steer India forward.
1 January 2018 will not be an ordinary day. “The people who were born in the 21st century will find that this date will decide a lot in their lives. I welcome all the youths who will turn 18 in 2018. Now, you are getting an opportunity to be a part of the force which develops India,” said the prime minister. He called them the Bhagya Vidhatas’ of our country
Surgical Strikes and National Security
Modi hailed the surgical strikes (29 November 2016) on the Independence Day and stressed upon the fact that his government is serious about tackling various national security issues. He said, “After the surgical strike, the entire world had to acknowledge India’s strength.” The concern for national security is a natural one in an independent India. Our armed forces always showed their capabilities in handling both terrorism and during the war.
Modi said that people are celebrating a Mahotsav of honesty today. His government implemented various praise-worthy measures like One Rank One Pension, GST, and demonetisation.
Talking about his government’s commitment to armed forces, Modi said, “For 30 or 40 years, the matter of One Rank One Pension was stuck. But our government took steps to fulfill the demand of our security personnel.” He said that GST gave the nation a new direction to competitive federalism and that GST was rolled so fast across the country, all thanks to technology. He said, “After GST enrollment, our truck drivers save 30 percent of their time in travel now.”
PM Modi spoke on demonetisation, “Today, I want to proudly tell people that within just three years, we have recovered black money of Rs 1.25 lakh crore.” Through Note ban, the black money came out. It was their endeavor to recover black money and then to make it a constructive part of the economy. Demonetisation proved to be a successful move against corruption. “The businessmen with black money used to run shell companies. After demonetisation, three lakh shell companies were found. And out of that, we canceled the registration of 1.75 lakh companies,” said the prime minister.
On development measures, he said, “Today, roads and railway tracks are being constructed twice as fast. Today, over 14,000 villages have got electricity. 29 crore people have got bank accounts now.”
Modi opposes Triple Talaq
His government supports the movement against Triple Talaq and India will also support Muslim women in their struggle. “I believe India will fully support the women in their struggle. The women of this country created a revolution against Triple Talaq. There was an atmosphere against Triple Talaq in the country with even the media supporting the women,” he said.
The prime minister was being criticized for not speaking on the Gorakhpur hospital tragedy which has killed over 70 children so far. But, Modi broke his silence today. He said, “In the last few days, some of our innocent children died in a hospital. All the countrymen stand together at this time.”
Militancy in Kashmir
On Independence Day,taking a peacemaking approach towards Kashmiris, Modi expressed his opinion that the Kashmir issue can be solved only through peaceful means. He said, Na gaali se samasya sulajhne wali hai, na goli se, samasya suljhegi har Kashmiri ko gale lagane se (Kashmir problem can’t be resolved by either bullet’s or by abuses. It can be resolved only by embracing all Kashmiris).
He promised to bring prosperity to the militancy-infested state. “The development of Jammu and Kashmir is also a commitment of the people and the government there,” said Modi.
No leniency for terrorism
Prime Minister spoke of involving common Kashmiris in India’s growth story but took a tough stance on militancy. “A lot happens in Kashmir. A lot of claims have been made. A lot of people abuse each other. There are a lot of separatists. But there will be no leniency for terrorism. I have told many to become a part of democracy,” said the prime minister.
Communalism and Casteism are poison for the country
Modi said that violence in the name of faith is not acceptable and described casteism and communalism as poison for the country. The comments assume importance in the backdrop of various incidents of lynching by cow vigilantes. He said that issues like communalism and casteism can’t benefit the country in any way. “Therefore, violence cannot be emphasized in the name of faith,” Modi said.
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