With the parliament approving the GST bill (now 101st amendment act) in August 2016, India’s most transformative tax reform is soon to become a reality. The GST will replce all the different types of taxes currently levid by the government (e.g. exicse duty, service tax, salex tax etc. ) and will implement a single taxation regime throughout india. GST would be in action form 1st July 2017.
The GST will benefit us on many fronts. It will simplify the tax policy, promote transparency and will eliminate the cascading effect i.e. tax on tax and miltiplicity of tax. For businessman seamless movement of goods across states & reduced transaction costs would improve ease of doing business. As everything will be online there will be very less chances for coruption. It is expected that GDP will increase by 1% after GST.
A special council has been made for GST. There will be four tax slabs at 5%, 12%, 18%, 28% respectively. With GST burden of taxes on manufacturing sector eases, which will make products cheaper. With cheaper products the demand will increase which will increase the GDP and create many jobs, also as Indian products become cheaper the international demand will also rise.
After GST Service tax will increase from 15 to 18 percent i.e. banking, telecom services will be higher. States are allowed to levy the additional rates of 1% to 2% on certain comodities, which will defeat its purpose. Despite ONE NATION, ONE TAX policiy one has to register in every state where one has business places.
Goods and Services tax has all the ingredients of a modern, seamless taxation system. But its success depends on how well it will be implemented. Ultimately it will be a great reform for the betterment of economy and also for the people of India
Kisi ko is bare me koi knowledge ho to btana... Non-Pay leave konsi job me easily mil jaegi?
Joining lene k baad jaldi se jaldi mil jaye... Chahe NIP hi kyo n ho...
I was just thinking about this... it is expected that a paper leak is imminent and that some corrupt officials inside SSC may be responsible for it. But at the same time, I keep reading posts here from time to time about some people who want to join ITI or similar posts only to earn under-table income...
It's funny to think that people who want to get a job through SSC and become corrupt could be complaining about an unfair admission process.
3. Pollution (References to AQI Levels in delhi during Diwali)4. Climate Change (Paris Agreement)5. RTI Act 2005 a powerful tool to curb the corruption 1. Intellectual Property Rights in topics pe essay ho to please share kr dena ...
puys your reviews on Jan dhan yojana (PMJDY) -275 words
As a measure towards financial inclusion of the poor in the national mainstream the Government of India(GOI) launched the Pradhan Mantri Jan-Dhan Yojana(PMJDY) on 28th August 2014.It ensures access to financial services and adequate timely credit to the poor and unorganised sector at an affordable cost.
With an aim to provide banking services to 7.5 crore households from current 58%, the scheme is implemented in two phases where in the 1st phase until August 2015 every person can open an account with zero balance and will receive Rupay debit card and use basic banking services, accident insurance cover of 1,00,000, life insurance cover of 30,000 and overdraft facility. In the second phase until August 2018, micro insurance and unorganised sector pension schemes are provided.Banking outlets will be established for this purpose.
When promoted in wider context, it can uplift financial conditions and standard of living of the poor.It can also help the government to provide subsidies directly to the beneficiaries bank accounts and plugs the leaks thereby ensuring transparency in the governance as well as remove the influence of money lenders and ensuring trust in banking system.
But there are several other important factors which act as a barrier in the delivery of banking services such as bypassing KYC norms that are mandatory for regular savings accounts leading to multiple accounts may be opened up by the same individual, absence of a comprehensive strategy for financial education, devices that provide doorstep banking services may not work properly due to technical problems and reach of the banks in rural areas.
So a holistic strategy constituting effective implementation will go a long way in furthering financial inclusion.