Saturday, 18 November, 2017

Union Government exempts import of aircraft, aircraft engines from ambit of GST

GST to Help MSMEs to Compete With Cheap Imports From China Others India marches towards tax transparency: Modi
Damon Campbell | 11 July, 2017, 00:48

Allaying public fears on the new GST (Goods And Service Tax) regime, Union Minister for Urban Development and Information and Broadcasting M Venkaiah Naidu today said GST was a revolutionary reform and not a confusion as many sections consider.

With the Goods and services tax (GST) comes into effect from 1 July, the micro, small and medium enterprises (MSMEs) would be able to compete with foreign competition coming from cheap cost centers such as China, Philippines, and Bangladesh, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) said on Sunday. "This will make domestically manufactured sanitary napkins at a huge disadvantage vis-à-vis imports, which will be zero rated", the Ministry added. The 15-20 member team will also include officials from Ministry of Foreign Affairs and Finance Ministry.

The Ministry clarified that the tax incidence on the item before GST was slightly higher. Gift has not been defined in the GST law. "It can not be demanded as a matter of right by the employee and the employee can not move a court of law for obtaining a gift", it said. For interstate you will pay only 18% IGST (Integrated GST) to the Centre", said Taori while explaining the basics."A mixed supply contains products which are independent and can be sold individually. The Minister also said, GST has resulted in economic integration of the country. Most of the raw materials such as wood pulp are imported. "These services will not be subjected to GST provided appropriate GST was paid when procured by the employer", it said.

Sanitary napkins will attract a Goods and Services Tax (GST) of 12 per cent, a shade lower than 13.7 per cent in the previous indirect tax regime.

Stanton to defend, Judge hopes to rule Home Run Derby
The fourth seed is Royals third baseman Mike Moustakas and he will go up against five seed Miguel Sano from the Minnesota Twins. He's averaged a home run every 10.1 at bats and is third in the majors with a.613 slugging percentage (Judge is first at.697).

3 children among 9 people shot at gender reveal party near Cincinnati
One pregnant woman who was shot in the leg reportedly lost her baby, according to Cincinnati's ABC affiliate, WCPO Sunday. The Cincinnati Police Criminal Investigations Section assisted Colerain with processing evidence in the home overnight.

Georgia woman charged with killing family smiles, gives thumbs up in court
Family members set up a GoFundMe page to help pay for funeral and medical costs, as at least one of the Romero children survived. The woman accused of killing four children and her husband is expected to be arraigned on murder and assault charges Friday.

Same would hold true for free housing to employees, when it is provided in contract between employer and employee, and is part of Cost to Company (CTC).

Despite such provision in the treaty, the traders and freight forwarders have been complaining to the government about slow pace of movement of goods during export and import of goods to and from India since last week when the Indian Government enforced GST.

Prime Minister Narendra Modi had termed the GST as a good and simple tax which will end harassment of traders and small businesses while integrating India into one market with one tax rate.

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