The Automobile industry in India is one of the most successful manufacturing space from past liberalization. The industry has potential to grow to become a major economic contributor. The
Government of India has also recognized the importance of Automobile industry holds in the Indian economy and hence is currently working on Automotive Mission Plan 2026 to set targets for the industry for the year 2026. The Government of India has planned to implement of GST to the manufacturing sector in India. The objective of this study is the impact of GST on Automobile sector in India.
Factors affecting automobile industry in economicsKanishkaSingh43
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The automotive industry is one of the most important economic sectors by revenue. In 2021, the automobile industry is expected to see a growth rate of around 7%, with the disclaimer that the auto industry in India has been hit badly by the ongoing global financial crisis.
Factors affecting automobile industry in economicsKanishkaSingh43
Â
The automotive industry is one of the most important economic sectors by revenue. In 2021, the automobile industry is expected to see a growth rate of around 7%, with the disclaimer that the auto industry in India has been hit badly by the ongoing global financial crisis.
In this presentation, I tried to explain the term GST in brief.
If you have any query related to it, please ask, comment and contact. Don't forget to share.
Impact of taxation on cross border investment Isha Joshi
Â
Consequent to the implemented economic liberalisation in India during the 1990s, substantial international investment activity began within the Indian capital markets and through corporate vehicles with an increasingly vibrant fervour. In fact, today, Foreign Institutional Investors (FIIs) play a crucial role in the liquidity, growth and vitality seen in Indian capital markets. Simultaneously, along with increasing FII activity, as a result of the favourable economic and political climate, India also witnessed an increasing quantum of Foreign Domestic Investment (FDI).
The regulation of these investment channels and instruments was at the front and centre of economic policy debate, a part of which revolves around taxation. There is undoubtedly a proximate and intelligible nexus between taxation and the employment of these investment tools. A taxation regime that is favourable can work in effectively attracting more international investment which in turn would enhance market liquidity, activity, and growth.1 While FIIs and FDIs may appear to be similar investment channels, for the most part, they serve entirely different objectives, and operate in substantially different manners and are subject to different regulatory regimes in terms of exchange, economic and taxation policy.
In the coming sections of this paper, the authors have attempted to analyse several aspects of FII and FDI taxation in India. The first section delineates the differences in FIIs and FDIs, their market strategy, modus operandi, and objectives, while ascertaining what exactly these investment channels imply and the various investment vehicles that may be employed by foreign actors.
The subsequent section of the paper outlines the tax regime applicable to such FDIs and FIIs, depending on the organisational scheme and objective of the business vehicle so employed for the investment.
Given that FIIs and FDIs essentially involve a foreign element, the question of double taxation is one which necessarily requires to be addressed. To that end, in the third section of this paper, the authors have looked at Double Taxation Avoidance Agreements (DTAAs) (Tax Treaties) in the context of FIIs and FDIs.
The Good and services tax (GST) is the biggest and substantial indirect tax reform since 1947. The main idea of GST is to replace existing taxes like value-added tax, excise duty, service tax and sales tax. GST as it is known is all set to be a game changer for the Indian economy. India as worldâs one of the biggest democratic country follow the federal tax system for levy and collection of various taxes.GST tax system plays a vital role in growth of India.GST cover 12 taxes (Like Vat, Sale tax, CST, KKC etc). GST is one of the most crucial tax reforms in India which has been long pending. It will be levied on manufacture sale and consumption of goods and services. GST is expected to address the cascading effect of the existing tax structure and result in uniting the country economically.
Goods And Service Tax in India, Informative PPT | The all about GST.Deepak Poddar
Â
Here we are discussed about GST. The all information about GST related. We learn about
#WhatisGST
#AdvantagesofGST
#HowGSTworks
#DisadvantagesofGST
#HistoryOfGST
#GSTfollowstheFramwork
#ContentofGST
EXPLAINING ABT GST CLAUSE, RULES REGULATION
Executive SummaryâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ.1
i
Background of GST within and outside India
ii
Preparation for GST
iii
Need for GST
2
Objective of StudyâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ....9
i
Benefits and simplification of GST model in India
3
Scope of GSTâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...16
4
Literature ReviewâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...17
5
Research modelâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...18
6
Data CollectionâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...18
i
Dual GST model to be introduced in India
ii
GST Portal
iii
GST Registration, GSTIN
iv
Composition Dealer, Applicability
v
Migration to GST
vi
Penalties of not registering under GST
vii
Multiple Registration under GST
viii
Input tax credit
ix
x
GST software
GST rate comparison existing tax system v/s new tax system
7
xi
GST return procedure
Data AnalysisâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ..............37
i
GST calculation
ii
GST benefit to common man
iii
Impact of GST (Overall, On India, Indian Economy)
8
Negative ListâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...46
9
List of Tax not considered under GSTâŚâŚâŚâŚâŚâŚâŚâŚâŚ.48
10
Limitation (Why no to GST)âŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ.49
11
ConclusionâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...51
12
RecommendationâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ........53
major research project (IMPACT OF GST ON LOGISTIC INDUSTRY IN INDIA)Abhilash Haldkar
Â
Logistics sector plays a very significant role in the development of our nation. The Indian logistics industry is expected to grow steadily. But the logistics costs in India are high when compared to developed countries. This is primarily due to complex tax structure and poor infrastructure. Currently the freight that moves across the country is taxed multiple times. So this paper is an analysis of what the impact of Goods and Service Tax (GST) will be on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers.
More than 150 countries have implemented GST so far.
This video would describe about two important types of foreign investments- the foreign direct investment and foreign institutional investor.
FDI is when a company makes investment in foreign country by setting up the business over there.
FII is an entity or institution which makes investment in a foreign country by getting registered in the stock exchange of foreign market to trade in securities.
 Foreign companies invest in India to take several advantages like relatively lower wages, cheaper production, new potential customers, tax exemptions, tapping growth potential of market, interest rate arbitrage.
It also benefits the host country by providing employment, increasing capital flow, greater investment opportunities, foreign exchange, transfer of new technology, skills & knowledge.
When FIIs invests in large in Indian stock market, rupee appreciates and the balance of payment improves
When FIIs withdraws, rupee depreciates and the balance of payment weakens
A comparison has been made between FDI and FII based on various factors like employment, tax rate, time period etc.
FDIs invests in the real economy while the FIIs invests in stock market only.
FDIs pay higher taxes as compares to the FIIs
FDIs generates mass employment as compared to FIIs that generates no or few employment opportunities
Both these foreign investments highly influence the country's economy and financial system.
It has its own positive and negative impacts. Do watch the video to know all about FDIs and FIIs.
Thank you for watching
Subscribe to DevTech Finance
India Tax Insights (October-December 2014)elithomas202
Â
The third edition of our, âIndia Tax Insightsâ magazine focuses on Goods & Services Tax (GST) â a âgame changerâ reform much-awaited by the industry.
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...ijtsrd
Â
Background Health is considered as one of the most important values of life. Certain illnesses can also change the clientâs body image or physical appearance weakness, loss of limb, and severe scarring. The clientâs self esteem and self concept will also be affected. Early detection and treatment is one of the measures to prevent illness and also to reduce complications and death. Objective The study aimed to assess the effectiveness of planned teaching programme on knowledge towards safe handling of chemotherapeutics drugs among staff nurses in Cancer hospital Gwalior M.P. Methods The research design selected for the study was pre experimental one group pre test posttest . Structured knowledge questionnaire developed to assess the knowledge of staff nurses regarding safe handling of chemotherapeutic drugs. Bhoori Singh | Sunita Tomar | Sunita Singh "A Pre-Experimental Study to Assess the Effectiveness of Planned Teaching Programme on Knowledge towards Safe Handling of Chemotherapeutics Drugs among Staff Nurses in C.H.R.I Gwalior (M.P)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42353.pdf Paper URL: https://www.ijtsrd.commedicine/nursing/42353/a-preexperimental-study-to-assess-the-effectiveness-of-planned-teaching-programme-on-knowledge-towards-safe-handling-of-chemotherapeutics-drugs-among-staff-nurses-in-chri-gwalior-mp/bhoori-singh
In this presentation, I tried to explain the term GST in brief.
If you have any query related to it, please ask, comment and contact. Don't forget to share.
Impact of taxation on cross border investment Isha Joshi
Â
Consequent to the implemented economic liberalisation in India during the 1990s, substantial international investment activity began within the Indian capital markets and through corporate vehicles with an increasingly vibrant fervour. In fact, today, Foreign Institutional Investors (FIIs) play a crucial role in the liquidity, growth and vitality seen in Indian capital markets. Simultaneously, along with increasing FII activity, as a result of the favourable economic and political climate, India also witnessed an increasing quantum of Foreign Domestic Investment (FDI).
The regulation of these investment channels and instruments was at the front and centre of economic policy debate, a part of which revolves around taxation. There is undoubtedly a proximate and intelligible nexus between taxation and the employment of these investment tools. A taxation regime that is favourable can work in effectively attracting more international investment which in turn would enhance market liquidity, activity, and growth.1 While FIIs and FDIs may appear to be similar investment channels, for the most part, they serve entirely different objectives, and operate in substantially different manners and are subject to different regulatory regimes in terms of exchange, economic and taxation policy.
In the coming sections of this paper, the authors have attempted to analyse several aspects of FII and FDI taxation in India. The first section delineates the differences in FIIs and FDIs, their market strategy, modus operandi, and objectives, while ascertaining what exactly these investment channels imply and the various investment vehicles that may be employed by foreign actors.
The subsequent section of the paper outlines the tax regime applicable to such FDIs and FIIs, depending on the organisational scheme and objective of the business vehicle so employed for the investment.
Given that FIIs and FDIs essentially involve a foreign element, the question of double taxation is one which necessarily requires to be addressed. To that end, in the third section of this paper, the authors have looked at Double Taxation Avoidance Agreements (DTAAs) (Tax Treaties) in the context of FIIs and FDIs.
The Good and services tax (GST) is the biggest and substantial indirect tax reform since 1947. The main idea of GST is to replace existing taxes like value-added tax, excise duty, service tax and sales tax. GST as it is known is all set to be a game changer for the Indian economy. India as worldâs one of the biggest democratic country follow the federal tax system for levy and collection of various taxes.GST tax system plays a vital role in growth of India.GST cover 12 taxes (Like Vat, Sale tax, CST, KKC etc). GST is one of the most crucial tax reforms in India which has been long pending. It will be levied on manufacture sale and consumption of goods and services. GST is expected to address the cascading effect of the existing tax structure and result in uniting the country economically.
Goods And Service Tax in India, Informative PPT | The all about GST.Deepak Poddar
Â
Here we are discussed about GST. The all information about GST related. We learn about
#WhatisGST
#AdvantagesofGST
#HowGSTworks
#DisadvantagesofGST
#HistoryOfGST
#GSTfollowstheFramwork
#ContentofGST
EXPLAINING ABT GST CLAUSE, RULES REGULATION
Executive SummaryâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ.1
i
Background of GST within and outside India
ii
Preparation for GST
iii
Need for GST
2
Objective of StudyâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ....9
i
Benefits and simplification of GST model in India
3
Scope of GSTâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...16
4
Literature ReviewâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...17
5
Research modelâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...18
6
Data CollectionâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...18
i
Dual GST model to be introduced in India
ii
GST Portal
iii
GST Registration, GSTIN
iv
Composition Dealer, Applicability
v
Migration to GST
vi
Penalties of not registering under GST
vii
Multiple Registration under GST
viii
Input tax credit
ix
x
GST software
GST rate comparison existing tax system v/s new tax system
7
xi
GST return procedure
Data AnalysisâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ..............37
i
GST calculation
ii
GST benefit to common man
iii
Impact of GST (Overall, On India, Indian Economy)
8
Negative ListâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...46
9
List of Tax not considered under GSTâŚâŚâŚâŚâŚâŚâŚâŚâŚ.48
10
Limitation (Why no to GST)âŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ.49
11
ConclusionâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ...51
12
RecommendationâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚâŚ........53
major research project (IMPACT OF GST ON LOGISTIC INDUSTRY IN INDIA)Abhilash Haldkar
Â
Logistics sector plays a very significant role in the development of our nation. The Indian logistics industry is expected to grow steadily. But the logistics costs in India are high when compared to developed countries. This is primarily due to complex tax structure and poor infrastructure. Currently the freight that moves across the country is taxed multiple times. So this paper is an analysis of what the impact of Goods and Service Tax (GST) will be on Logistics Sector in India primarily in Transportation, Warehousing and Logistics Service Providers.
More than 150 countries have implemented GST so far.
This video would describe about two important types of foreign investments- the foreign direct investment and foreign institutional investor.
FDI is when a company makes investment in foreign country by setting up the business over there.
FII is an entity or institution which makes investment in a foreign country by getting registered in the stock exchange of foreign market to trade in securities.
 Foreign companies invest in India to take several advantages like relatively lower wages, cheaper production, new potential customers, tax exemptions, tapping growth potential of market, interest rate arbitrage.
It also benefits the host country by providing employment, increasing capital flow, greater investment opportunities, foreign exchange, transfer of new technology, skills & knowledge.
When FIIs invests in large in Indian stock market, rupee appreciates and the balance of payment improves
When FIIs withdraws, rupee depreciates and the balance of payment weakens
A comparison has been made between FDI and FII based on various factors like employment, tax rate, time period etc.
FDIs invests in the real economy while the FIIs invests in stock market only.
FDIs pay higher taxes as compares to the FIIs
FDIs generates mass employment as compared to FIIs that generates no or few employment opportunities
Both these foreign investments highly influence the country's economy and financial system.
It has its own positive and negative impacts. Do watch the video to know all about FDIs and FIIs.
Thank you for watching
Subscribe to DevTech Finance
India Tax Insights (October-December 2014)elithomas202
Â
The third edition of our, âIndia Tax Insightsâ magazine focuses on Goods & Services Tax (GST) â a âgame changerâ reform much-awaited by the industry.
A Pre Experimental Study to Assess the Effectiveness of Planned Teaching Prog...ijtsrd
Â
Background Health is considered as one of the most important values of life. Certain illnesses can also change the clientâs body image or physical appearance weakness, loss of limb, and severe scarring. The clientâs self esteem and self concept will also be affected. Early detection and treatment is one of the measures to prevent illness and also to reduce complications and death. Objective The study aimed to assess the effectiveness of planned teaching programme on knowledge towards safe handling of chemotherapeutics drugs among staff nurses in Cancer hospital Gwalior M.P. Methods The research design selected for the study was pre experimental one group pre test posttest . Structured knowledge questionnaire developed to assess the knowledge of staff nurses regarding safe handling of chemotherapeutic drugs. Bhoori Singh | Sunita Tomar | Sunita Singh "A Pre-Experimental Study to Assess the Effectiveness of Planned Teaching Programme on Knowledge towards Safe Handling of Chemotherapeutics Drugs among Staff Nurses in C.H.R.I Gwalior (M.P)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42353.pdf Paper URL: https://www.ijtsrd.commedicine/nursing/42353/a-preexperimental-study-to-assess-the-effectiveness-of-planned-teaching-programme-on-knowledge-towards-safe-handling-of-chemotherapeutics-drugs-among-staff-nurses-in-chri-gwalior-mp/bhoori-singh
In this present generation, individuals are highly sophisticated in their life
standard as it is directly determined by their individuals and family income. Pool of
earnings in a family take them to next level life style. Copy and comparison are the
two important Câs which influence the individuals to lead their life in comfort t zone.
In the last two decades people are totally isolating to prefer public transport. Heavy
traffic penetrates the individuals to frustrate, in turn it leads to attract to buy their
own vehicles. A competitive corporate culture encourages them by launching new
modern two and four wheeler with different amenities at competitive price. Financial
institutions are also supporting them to buy vehicles at easiest instalments. At last,
these proportionately increase more automobile products. These automobile
industries directly contribute the GDP to our nation. The recent GST also encourages
the buying habit of automobile products. These positive tax regime definitely develop
the automobile sector to the reasonable extent. This research paper has made an
attempt to undergo the tax implications of automobile products with reference to
TATA motors. The study conducted based on the reliable facts from the company site
and financial reports for the period for 4 years from 2014 to 2018. Observation
method also applied to perceive the users, retailers and Dealers preference about the
GST implement about automobile sector.
GST - BOON OR BANE TO INDIAN ECONOMY
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Traditionally Indiaâs tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the Indiaâs majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept, advantages, disadvantages and international scenario
Does Goods and Services Tax (GST) Leads to Indian Economic Development?iosrjce
Â
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
GST came to India as a medicine that would treat taxable diseases at one go. It was described by economists as the biggest economic reform after independence. Till the year 2017 indirect tax structure in India was a complex mixture of central taxes and state taxes, here different types of taxes were levied at different stages, which made the tax structure difficult and most of the taxes were not adjusted for this system tax. Increases effect such as taxes on taxes that increase the value of products and services. This economic reform is extremely essential for an emerging economic power like India. Impact of The last deputy speaker from the government, the government and the economy will present its influence in both positive and negative forms. This research of mine will throw light on the study of these two sides. Dr. Sumit Trivedi "Impact of GST on Different Classes" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42333.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/42333/impact-of-gst-on-different-classes/dr-sumit-trivedi
India is facing a huge jobs and livelihood challenge. While policy-makers are working towards revamping the existing skills ecosystem and revisiting the economic landscape to pace
up GDP growth and create more jobs, industry too, in tandem, is exploring ways to build capacity and capability across the countryâs skillscape through diverse initiatives.
TAX REFORM FOR DEVELOPING VIABLE AND SUSTAINABLE TAX SYSTEMS IN INDIA WITH SP...IAEME Publication
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Most developing countries continue to face severe issues in developing adequate and quick to
respond tax systems. While each of these paths to reform is necessary, in the end what 50 years of
experience tells us is that improving the precision and understanding with which fiscal issues both
within and outside government, is the really essential ingredient to developing viable and
sustainable tax systems in developing countries like India. Indian taxation system has undergone
remarkable reforms during the last decade. The tax rates have been rationalized and tax laws have
been simplified resulting in better compliance, ease of tax payment and better enforcement. The
process of validation of tax administration is ongoing in India.
Another key objective of tax reform measures has been to increase total tax to GDP ratio as a
means of achieving fiscal consolidation and improving resource allocation. GST, easier tax filing
methodology and simpler tax structures â Government of India is working to enhance the
government's revenue collection, at the same time ensuring that cumbersome taxes do not deter
investors. This paper review the three principal ways in which developing countries like India may
develop and progress their taxation systems - base-broadening, rate reduction, and administrative
improvement - in the context of the political economy of tax reform.
Goods ans Services Tax (GST) is an indirect tax which was introduced in India on 1 July 2017 and was applicable throughout India which replaced multiple cascading taxes levied by the central and state governments.
Impact of Goods and Services Tax (GST) to the Common Mantridentbull
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The Goods and Services Tax (Amendment) Bill â officially known as, the Constitution (122nd Amendment) (GST) Bill, 2014 â is believed to be the biggest tax reform since independence. The Constitution Amendment Bill for Goods and Services Tax (GST) passed in the Rajya Sabha on 3 August 2016, which was approved by the Lok Sabha in May 2015.
Similar to Impact of gst on automobile sector in india (20)
In organizations, conflict is regarded as the presence of discord that occurs when the goals, interests or values of different individuals or groups are incompatible and frustrate each otherâs attempting to achieve objectives. There are different views surrounding the origin of conflict in organizations and institutions. From the draw of creation mankind has been presented with conflict. Conflict appears to be inevitable;
once there is human interaction conflict seem to fester. This paper seeks to describe the concepts of conflict management, conflict in organizations and conflict management and
its effect.
âIt is the process of planning and executing the conception, pricing and promotion, distribution of goods and services to satisfy customers and achieve organizational goals.â
It is a branch broad area of management which is concerned with the direction of purposeful activities towards the attainment of marketing goals.â
In todayâs competitive world the word âStrategyâ is very crucial for all business organizations. Presently organizations started realizing that customer centric and aggressive marketing strategies plays vital role to become successful leader. Though
globalization has opened the doors of opportunities for all, the market is still crowded with some unknown risks and lot of competition. Because of this competition, a marketing
strategy must aim at being unique, differential-creating and advantage-creating. To obtain unique and differential advantage, an organization has to be innovative in its
marketing strategy. Today due to innovative marketing strategies Maruti Suzuki has become the leading & largest seller of automobiles in India. Company has adopted various Brand positioning, Advertising, Distribution strategies to cover the market. Marutiâs few unique promotional strategies include Teacher Plus Scheme, 2599 scheme, Change your life campaign. The objective of this paper is to focus on various marketing strategies of Maruti Suzuki India Ltd.
The reason for this move was simple: Indiaâs Ministry of Finance claimed that 500 and 1,000 rupee notes are being used to finance terrorism, fund illegal drug sales, fuel the black
market, drive counterfeiting, and pay bribes. This so-called âblack moneyâ had reputedly built up to such epic proportions that Prime Minister Modi declared that enough was enough,
that he would take it upon himself to wash his countryâs currency supply in one fell swoop. Demonetization can be said as a âSurgical Strikeâ on Black Money, Terrorism, Fake
Currency, Unorganized trading, Real Estate, Share market etc. on the other hand if we talk about the Indian industry on a broader way it can be categories in three parts Manufacturing
sector, Service sector and Agriculture sector. After demonetization only Agriculture sector shows some positive improvement while if we talk about the manufacturing and service sector both were crashed down and these will affect the whole Indian market in 2017 also. As of December 28, official sources said that the Income Tax department detected over 4,172 crore of un-disclosed income and seized new notes worth 105 crore as part of its country-wide operations. The department carried out a total of 983 search, survey and enquiry operations
under the provisions of the Income Tax Act and has issued 5,027 notices to various entities on charges of tax evasion and hawala-like dealings. The department also seized cash and
jewellery worth over 549 crore out of which the new currency seized (majority of them 2000 notes) is valued at about 105 crore. The department also referred a total of 477 cases to
other agencies like the CBI and the Enforcement Directorate (ED) to probe other financial crimes like money laundering, disproportionate assets and corruption.
The corporate world is changing the perspective from a business oriented financial perspective to a competency based economy and green economy. As the world is moving towards green economy, the responsibility of business has expanded to go green. The term Green human resources refer to the promotion of sustainable employee practices with the help of interface of every employee. Itâs aim is to increase the awareness among the employees on the issue of sustainability. Green HR deals with the HR activities which are environment friendly and promote the sustainable use of resources in the organizations. This in turn, help business organizations to trim down employee carbon footsteps by the likes of teleconferencing, sharing of car, telecommuting, filing electronically, virtual interviews, recycling, online training, etc. This study focuses on various green HRM practices followed in the organization. The paper largely focuses on the various green HRM practices
Global climate change is a change in the long-term weather patterns that characterize the regions of the world. The term "weather" refers to the short-term (daily) changes in temperature, wind, and/or precipitation of a region. In the long
run, the climatic change could affect agriculture in several ways such as quantity and quality of crops in terms of productivity, growth rates, photosynthesis and transpiration rates, moisture availability etc. Climate change is likely to directly impact food production across the globe. Increase in the mean seasonal
temperature can reduce the duration of many crops and hence reduce the yield. In areas where temperatures are already close to the physiological maxima for crops, warming will impact yields more immediately (IPCC, 2007). Drivers of climate
change through alterations in atmospheric composition can also influence food production directly by its impacts on plant physiology. The consequences of agricultureâs contribution to climate change, and of climate changeâs negative impact on agriculture, are severe which is projected to have a great impact on food production and may threaten the food security and hence, require special agricultural measures to combat with.
Presently Indiaâs economy continues to grow at a rapid pace, the automobile industry is be
a key beneficiary. This is true in whole automotive marketsâfrom those serving customers
with two-wheelers and four-wheelers to those offering commercial vehicles. The major
determinants behind such growth are the increasing affluence of the average consumer,
overall growth in GDP, the arrival of ultra-low-cost cars, and the increasing maturity of
Indian original equipment manufacturers (OEMs).Automotive Industry in India is
presently working in terms of the dynamics of an open market. In India, automobile sector
is one of the largest growing industries. Many joint ventures have been set up in India with
foreign collaboration. India also has one of the fastest growing economies, and many U.S.
companies view India as a potentially lucrative market. This paper gives an overview of
Indian Automobile Industry.
A brief discussion about the India's first highly reputed company who makes a revolution in the world of buscuits and cookeys.
In 1929 a small company by the name of Parle products emerged in British dominated India. The goal was to spread joy and cheer to children and adults alike, all over the country with its sweets and candies. A small factory was set up in the suburbs of Mumbai to manufacture confectionery products
Liberalization is a very broad term that usually refers to fewer government regulations and restrictions in the economy.
Privatization means transfer of ownership and/or management of an enterprise from the public sector to the private sector .It also means the withdrawal of the state from an industry or sector partially or fully.
Globalization implies integration of the economy of the country with the rest of the world economy and opening up of the economy for foreign direct investment by liberalizing the rules and regulations and by creating favorable socio-economic and political climate for global business.
what is the best method to sell pi coins in 2024DOT TECH
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The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
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The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
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Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
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If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. đ I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
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Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Resume
⢠Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
⢠Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
⢠In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
⢠The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
⢠The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
⢠As in March, annual consumer inflation amounted to 3.2% yoy in April.
⢠At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
⢠Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
what is the future of Pi Network currency.DOT TECH
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The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
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USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
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Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
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Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
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how to swap pi coins to foreign currency withdrawable.DOT TECH
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As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.
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Impact of gst on automobile sector in india
1. Impact of GST on Automobile Sector in India
Abstract
The Automobile industry in India is one of the most successful manufacturing space from past
liberalization. The industry has potential to grow to become a major economic contributor. The
Government of India has also recognized the importance of Automobile industry holds in the
Indian economy and hence is currently working on Automotive Mission Plan 2026 to set targets
for the industry for the year 2026. The Government of India has planned to implement of GST to
the manufacturing sector in India. The objective of this study is the impact of GST on Automobile
sector in India.
Keywords: GST, Automobile Sector, Economic Development,
Introduction
Automobile sector in India is growing fast and the growth pattern seems to have a clear
correlation with the reforms related policies those influenced both domestic demand pattern as
well as trade. India is global major in the two wheeler industry producing motor cycles, scooters
and mopeds principally of engine capacities below 200cc. The two wheeler industry in India has
grown at a compounded annual growth rate of more than 15% during the last five years and
Indian two wheelers comply with some of the most stringent emission and fuel efficiency
standards maintained worldwide. In India two wheelers is the second largest producer in the
world and the worldâs number one producer is located in India. India is the largest tractor
manufacturer, the fifth largest commercial vehicle manufacturer and the thirteenth largest
producer of passenger cars in the world.
The Auto industry currently employs more than 30 million people both directly and indirectly.
The auto industry is a key employment generator in the OEM factory that manufacturers the
vehicles, in the inbound auto component and logistics industry that makes and delivers
components & systems and the out bound logistics and dealer network that sells, maintains and
distributes the cars. Every vehicle produced, generates secondary and tertiary employment. The
industry generates employment of 13 persons for each truck, 6 persons for each car and four
persons for each three wheeler and one person for two wheelers. It is important to appreciate the
sectorâs multiplier effect on economic activity. If the industry produces as per its potential, it
could generate employment of over 35 million people by 2020.
Objectives
⢠To cognize the concept of GST
⢠To study the features of GST
⢠To evaluate the impact of GST on Automobile Sector
GST: Goods and Service Tax
The GST as the biggest taxation reform and is basically a proposed tax reform at the moment.
This is indirect tax much like the VAT, Service tax, entertainment tax, etc. and this would be
levied by the state and center in the form of State GST and Centre GST on the manufacture, sale
and consumption of almost all goods and services all across India. The auto industry is likely to
2. gain from the implementation of the GST since it is expected to reduce logistics costs by
removing trade hurdles, paving way for more competitive manufacturing. The execution of GST
will remove the effect of multiplicity of taxes on the cost of goods and services. Currently, most
of car manufacturers are located in few of the states in India and by some estimates, 80% of
these cars are sold to dealers in states outside the state in which they are manufactured.
Moreover, with the effective tax rate dropping to around 18% from up 27% from some segments
currently, it will result in lower prices and consecutively, boost the demand for automobiles with
respect of taxation and duties, cars have been classified into four categories (I) Small cars with
petrol engine capacity below 1200cc and under four meters in length, (ii) Mid-size cars with
petrol engine below 1200cc , (iii) Diesel engine below 1500cc , (iv) Luxury cars with engine
capacity of 1500cc and above, (v) SUVs with engine capacity above 1500cc, 170 mm of ground
clearance and longer than four meters. On small cars, a total tax of around 28% is levied
currently which includes VAT and excise duty while for Mid-size cars, itâs around 39% once
GST gets implemented, the total taxes levied on cars is likely to be reduced. The industry
requires the Government to support by providing it an atmosphere that facilitates growth. While
the auto industry is focused on generating volumes in the different segments to garner growth, it
is in the interest of the Government to continue with the lower excise rates as this will help
increase volumes and garner additional tax revenue. High tax rates and consequent high prices of
vehicles have a harmful effect of lowering volumes, lowering gross tax collections and
ultimately lowering growth in the auto sector.
The Government should facilitate a conducive environment for growth of the auto industry by
defining favorable long-term policy for investment. Due to the unfavorable policy environment
in the country where tax rates on vehicles are getting changed every year and Government is
negotiating FTAs where custom duties are likely to come down, many international companies
that had planned to enter the market have stalled the plan and are now considering other
emerging markets, such as China and Brazil. The industry has potential to grow to become a
major economic contributor. The Government also recognizes the importance the automobile
industry holds in the Indian economy and hence is currently working on Automotive Mission
Plan 2026 to set targets for the industry for the year 2026 and to suggest interventions that would
be critical for growth of the industry. The industries identified by the Prime Minister for âMake
in Indiaâ also include the automobile and auto component industry. The Ministry of Finance has
laid down the roadmap for implementing Goods & Services Tax (GST) from April 1, 2010 and
the Empowered Group of State Finance Ministers on Value-Added Tax (VAT) has accepted the
report of the Joint Working Group which suggests a dual GST structure (a central GST and a
state GST).
Review of Literature
Agogo Mawuli (May 2014)1, stated, âGoods and Service Tax-An Appraisalâ and found that
GST is not good for low-income countries and does not provide broad based growth to poor
countries. If still these countries want to implement GST then the rate of GST should be less than
10% for growth.
1
Agogo Mawuli (2014): âGoods and Service Tax- An AppraisalâPaper presented at the the PNG
Taxation Research and Review Symposium, Holiday Inn, Port Moresby, 29-30.
3. Dr. R. Vasanthagopal (2011)2, studied,âGST in India: A Big Leap in the Indirect Taxation
Systemâ and concluded that switching to seamless GST from current complicated indirect tax
system in India will be a positive step in booming Indian economy. Success of GST will lead to
its acceptance by more than 130 countries in world and a new preferred form of indirect tax
system in Asia also.
Ehtisham Ahmed and Satya Poddar (2009)3, justified, âGoods and Service Tax Reforms and
Intergovernmental Consideration in Indiaâ and found that GST introduction will provide simpler
and transparent tax system with increase in output and productivity of economy in India. But the
benefits of GST are critically dependent on rational design of GST.
Girish Garg (2014)4, stated that GST is the most logical steps towards the comprehensive
indirect tax reform in our country since independence. GST is leviable on all supply of goods
and provision of services as well combination thereof. All sectors of economy whether the
industry, business including Govt. departments and service sector shall have to bear impact of
GST. All sections of economy viz., big, medium, small scale units, intermediaries, importers,
exporters, traders, professionals and consumers shall be directly affected by GST. One of the
biggest taxation reforms in India â the Goods and Service Tax (GST) -- is all set to integrate
State economies and boost overall growth. GST will create a single, unified Indian market to
make the economy stronger. Experts say that GST is likely to improve tax collections and Boost
Indiaâs economic development by breaking tax barriers between States and integrating India
through a uniform tax rate. Under GST, the taxation burden will be divided equitably between
manufacturing and services, through a lower tax rate by increasing the tax base and minimizing
exemptions.
Nitin Kumar (2014)5, declared, âGoods and Service Tax- a Way Forwardâ and concluded that
implementation of GST in India help in removing economic distortion by current indirect tax
system and expected to encourage unbiased tax structure which is indifferent to geographical
locations.
Pinki, Supriya Kamma and Richa Verma (July 2014)6, studied, âGoods and Service Tax-
Panacea For Indirect Tax System in Indiaâ and concluded that the new NDA government in
India is positive towards implementation of GST and it is beneficial for central government, state
2
Dr. R. Vasanthagopal (2011), âGST in India: A Big Leap in the Indirect Taxation Systemâ, International
Journal of Trade, Economics and Finance, Vol. 2, No. 2, April 2011.
3
Ehtisham Ahamad and Satya Poddar(2009), âGoods and Service Tax Reforms and Intergovernmental
Consideration in Indiaâ, âAsia Research Centerâ,LSE,2009.
4
Girish Garg, (2014), âBasic Concepts and Features of Good and Service Tax in Indiaâ.
5
Nitin Kumar (2014), âGoods and Service Tax in India-A Way Forwardâ, âGlobal Journal of
Multidisciplinary Studiesâ, Vol 3, Issue6, May 2014.
6
Pinki, Supriya Kamna, Richa Verma(2014), âGood and Service Tax â Panacea For Indirect Tax System
In Indiaâ, âTactful Management Research Journalâ,Vol2, Issue 10, July2014
4. government and as well as for consumers in long run if its implementation is backed by strong IT
infrastructure.
Features of GST
A. Ambit of GST
It is applied to all taxable goods and services except the exempted goods and services and
on transactions below the threshold limit.
Exempted goods and services include alcohol for human consumption, electricity, custom
duty, real estate. [Proposed article 366(12A)]
Petroleum products [crude oil, HSD (high speed diesel), motor spirit (petrol), natural gas,
ATF (aviation turbine fuel)] are initially exempted from GST till the GST Council
announces date of their inclusion.
Tabaco products are included in GST along with central excise tax.
B. Imposition and Collection of GST
The power of making law on taxation of goods and services lies with both union and state
legislative assemblies. A law made by union on GST will not overrule a state GST
law.(proposed article 246A)
GST has two components CGST and SGST as discussed above. CGST will be collected
by central government whereas states governments will collect SGST.
IGST is levied on supplies in the course of interstate trade including imports which is
collected by central government exclusively and distributed to imported states as GST is
destination based tax. The proportion of distribution between center and states is decided
on recommendation of GST Council.(proposed article 269A)
C. GST Council
It is set up by president under article 279-A. It is chaired by union finance minister.
It will constitute union minister of state in charge of revenue and minister in charge of
finance or taxation or of any other field nominated by state governments. The 2/3rd
representatives in council are from states and 1/3rd from union.
The decision of council is made by 3/4th majority of the votes cast and quorum of council
is 50%.
It will make recommendations on
a. Taxes, surcharge, cess of central and states which will be integrated in GST.
b. Goods and services which may be exempted from GST
c. Interstate commerce â IGST- proportion of distribution between state and center
d. Registration threshold limit for GST
e. GST floor rates
f. Special rates during calamities
g. Provision with respect to special category states specially north east states
It may also work as Dispute Settlement Authority for GST
D. Additional 1% Tax
Additional 1% tax on interstate taxable supply of goods which is levied by center and
directly portioned to the exporter state (origin state).
This tax will be charged for two years or for longer time period recommended by GST
Council.
E. Compensation to States
For maximum of 5 years union will compensate states for the revenue losses arising out
of GST implementation.
This compensation will be made on the recommendation of GST Council.
5. Impact of the GST on Automobile Sector
The Goods and Service Tax is a single rate tax levied on the manufacture, sale and consumption
of goods as well as services at a national level. In this system the GST is implemented only on
the value added at every stage of production. This will ensure there is no cascading effect of
taxes (tax on tax paid) on inputs that are used in manufacturing goods. With the GST in place,
the prices of goods are expected to fall, and in the long term we can expect the dealers to pass on
these benefits to the end consumer as well. The Automobile industry has seen significant
disputes under central excise valuation like, sale below the cost for market penetration, inclusion
of State Industrial Promotion subsidies retained by the manufacture, deductibility of past sale
discounts from value under excise, valuation of demo cars treatment of PDI charges and other
dealer reimbursement advertisement charges recovered from dealers etc., and sales though
marketing companies and mutuality of interest. The model GST law continues with the concept
of transaction value which is a welcome measure, however the powers for rejection of the
transaction value are very wide, and could lead to significant valuation disputes. The GST is
working towards a more viable approach when it comes to tax, which is applicable in the
manufacturing process. The tax under the new regime which the manufacturer has already levied
in the manufacturing process in deducted when the final product created by the manufacturer is
produced in the market. Hence, the tax on products in overall reduced as the tax otherwise
charges on the final product does not include the pre charged one. The same process is followed
on the level of the wholesaler who sets off the tax when he purchases the good from the
manufacturer and releases them in the market. The product passes from the wholesaler to the
retailer the retailer after adding value to the product again sets off the tax when releasing the
goods finally in the market. In this chain of passing the goods from one to another, the tax sets
off at every level, releasing a bit of pressure on all the people on the respective stages. Hence,
when the final product is released the overall value of the good when taxed has a marginal
variation in favor of the consumer as to re-existing rate of taxes. The double tax burden is being
eliminated from this region as taxes that may have been charged and again charged on the tax
that was already paid has been done away with the section, though has variations as per type of
vehicle depending on the size and emissions by the same. Moreover the overall compliance
burden is expected to decrease and bring lots more efficiency in operations of the indirect tax
prospective the whole country will be treated as one market and will add to operational
efficiencies.
The GST will be positive for the automotive sector, primarily because of the efficiency and the
removal of cascading that is expected with GST, example a car is manufactured in a particular
state and generally 80 percent of these cars are sold to states outside the state of manufactures to
dealers outside the state. So today, to straight away give you an example, the two percent central
sales tax (CST) that they pay will not be there tomorrow because hopefully origin tax is not
there. Even the two percent CST will be an integrated GST (IGST) which will be fully creditable
by the dealer when he sells the car in the other state, and even from a procurement point of the
view, if there is interstate procurement we suffer today at two percent CST which is a cost to the
manufacturer, that also will not happen because those interstate procurements will have an IGST
in it which is again available as a full credit to the manufacturer if the credit rules are simple and
easy. The second efficiency could be also on the input side, a bigger, more easy credit
mechanism so that all the taxes on the input side, whether it is input services, whether it is capital
goods, whether it is manufactured products are set off against the output liability of GST.
6. Table showing the different types and rate of taxes levied on the passenger vehicles/ SUV
Segment Excise
duty
*Nccd
+auto
cess
VAT *Road
Tax
*Motor
vehicle
tax
Total CGST SGST TOTAL Difference
Small Cars
<1200cc
12.50% 1.1% 14% State
based
State
based
28%
(approx.)
9% 9% 18% 10%
Mid-Size
Cars from
1200cc to
1500cc
24% 1.1% 14% State
based
State
based
39% 9% 9% 18% 21%
Luxury
Cars>1500cc
27% 1.1% 14% State
based
State
based
42% 14% 14% 28% 14%
SUVâs
>1500cc,
>170mm
ground
clearance
30% 1.1% 14% State
based
State
based
45% 14% 14% 28% 17
The GST law treats job work as a service and seeks to maintain existing excise procedures for
the job work transactions, i.e. non taxability of job work transaction and providing credits to the
principal for supplies to job worker 180 days condition for bringing back goods after job work.
The automobile industry for vendors to develop tools for the manufacture of parts of
automobiles. The ownership of such tools is transferred to the OEMs, and the cost is also
recovered from OEMs. However, the tools are physically located in the vendorâs factory for
manufacture of parts. As specified in model GST law the definition of capital goods covers only
those goods which are used at the place of business of supply of goods. Thus, only goods which
are used in the place of business of OEM seem to be eligible for GST credit in the OEMâs hands.
This could possibly result in increase in the cost of totaling and cost for manufacture. The
automotive industry has witnessed several cesses including automobile cess, NCCD, tractor cess
and infrastructure cess. In the discussions on GST, the Government has indicated its intention to
subsume all Central and State cesses into GST.
The existing CENVAT credit rules the input tax credit will be allowed only of those goods
falling within specified chapters to the model GST law. Further the definition of inputs and input
services also provides for exclusions. Therefore, it appears that even under GST, restrictions on
input tax credit will continue. Generally, states provide for various incentives including
investment promotion subsidies (IPS). A majority of the automobile manufacturers enjoy special
benefits from the State government in the form of State investment promotion subsidies (IPS).
This is given in the form of refund of VAT/CST paid. The implementation of GST, taxes move
from the origin state to the consumption state. This could result in significant reduction of flow
back of IPS, since GST on interstate sales is not credited to the origin state unless on interstate
sales is not credited to the origin state unless there is a compensation mechanism to the states or
to the OEMs with regard to the impact on the IPS due to GST.
7. Existing Excise Duty rates
Vehicle Category Excise Duty
Small cars 12.5%
Length >4m but engine capacity less than 1500cc 24%
Length >4m and engine capacity more than 1500cc 27%
SUVs/MUVs (length >4m, engine capacity >1500cc and Ground clearance
>170mm)
30%
Hybrid cars 12.5%
Specified components of Hybrid vehicles 6%
Electric cars, Buses, 2W & 3W 6%
Specified components of Electric vehicles 6%
Buses 12.5%
Trucks 12.5%
Three wheelers 12.5%
Two wheelers 12.5%
Existing Import Duty rates
Criteria / Applicability Import Duty
%
Used car import 125
Cars CBUs whose CIF value is more than $ 40,000 or Petrol Engine > 3000
CC or Diesel engine > 2500 CC
100
Cars CBUs whose CIF value is less than $ 40,000 and Petrol Engine < 3000
CC and Diesel engine < 2500 CC
60
Two-wheeler CBUs with engine capacity <800 cc 60
Two-wheeler CBUs with engine capacity >=800 cc 75
Commercial Vehicle CBUs (Trucks & Buses) 20
CKD containing engine or gearbox or transmission mechanism in pre-
assembled form, but not mounted on a chassis or a body assembly
30
CKD containing engine, gearbox and transmission mechanism not in a pre-
assembled condition
10
Tax Rates for the Automobile Industry
The tax rate on inputs and output should be fixed considering the pattern of input purchase and
output sales which varies considerably. This has implications for the input tax credit. While
vehicle manufacturing takes place in a few states with supply to other states (local sales account
for less than 10% of total domestic sales), the majority of components (around 70% - 80%) are
procured from vendors within the state. If tax rate of components/inputs is more than the tax rate
at the time of supply of complete vehicles (Completely Built Units), then refund would arise.
Suggestions of Tax base & Levy
⢠Uniform rate of tax should be charged on complete vehicles (whether by way of sale or
by way of transfer) and inputs, against which input credit should be allowed.
8. ⢠Tax paid on complete vehicles on movement from factory should be made available as
input credit to the vehicle dealers.
⢠Manufacturers could give state-wise break-up at periodically to respective state
governments who may settle it through the appropriate clearing house mechanism.
⢠Considering the current level of taxation, a suitable tax rate may be adopted. Tax rates
should be uniform across states and there should be one authority to which payment
would be made by way of one Challan.
⢠Goods and services should be classified on the basis of HSN and GATTS (at both central
and state levels).
⢠A common base should be adopted for taxation of both Central and State GST. Under the
present taxation system, interstate sales tax and local sales tax is levied on excise duty in
respect of the manufactured goods resulting in cascading of taxes.
⢠In case of non-sale, where the transaction value of goods or services is not determinable
and when GST is charged, a simple mechanism of valuation could be adopted on the
basis of cost.
⢠Under GST, it is suggested that the basis of tax credit should be on âCost to Businessâ,
i.e. tax, which is paid and forms cost to business should be allowed as a tax credit, both at
the Central & State level.
⢠The document based credit should also be dispensed with and could be substituted by
appropriate certification by an independent Chartered Accountant (or the Appointed
Company Auditors). The same could be subject to appropriate audits by trained
government officers and could be IT enabled.
⢠Diesel and motor spirit should be brought under GST with input tax credit and
mechanism to avail the same. VAT on diesel and motor spirit constitutes a significant
element of cost for the transport industry.
⢠In the proposed GST system, it is not known whether the stock transfer would remain
exempted from tax (at present, sales tax is not levied on Stock Transfer) or would be
made taxable in the importing state; the industry needs to understand the treatment of
stock transfers for the purpose of input tax credit.
⢠There should be no distinction between input and capital goods. Presently, definition of
Capital Goods under Central excise law and state VAT is not uniform. Under State VAT,
definition of capital goods and also the rate of taxation vary from state to state. As
regards periodicity of taking credit, excise and VAT laws differ.
⢠In respect of existing exemptions having sunset clause, appropriate transitional provisions
should be introduced to ensure continuity of existing benefits. A clarification is needed
on how the existing sales tax benefit schemes e.g. loan, deferral would be affected.
⢠The State Goods and Services Tax Act, State GST Act should be a common Act
operated/implemented by all the states and Union Territories (similar to present Central
Sales Tax Act) covering transactions related to goods, services and exports.
⢠Concept of âTax Invoiceâ should be continued for availing State GST credit.
⢠To ensure viability of EOU under severe competition, timely refund of tax is needed.
Effective refund system should be in place for smooth operations of EOUs. Presently,
EOUs are eligible to get refund of CST on interstate purchase of inputs used in the
production of export goods and local VAT content of the export product is allowed to be
deducted against the DTA Sales and the balance, if any, is allowed as refund.
⢠Under a dual GST structure (a Central GST and a State GST), there could be a situation
where the Input Tax credits which remain assizes would be refunded to the assizes. Since
the cross utilization of credits between the Central GST and State GST is not permitted,
9. there could be a situation of payment on the one hand and a refund situation on the other.
In order to avoid this situation cross utilization of input tax credits should be allowed.
⢠Procedural changes should be notified in advance. The industry should be given 6 months
lead time before the introduction of GST.
⢠State specific incentives should be protected under GST.
Conclusions
The implementation of GST, taxes moves from the origin state to the consumption state due to
which overall economic activity is expected to increase and it could expect a better GDP growth
that should push demand for vehicle across categories. Impact of tax cascading will also go away
that will reduce overall cost of vehicle manufacturing as all taxes on input paid will be offset
with the output liability of GST.
References
⢠Agogo Mawuli (2014): âGoods and Service Tax- an Appraisal âPaper presented at the the
PNG Taxation Research and Review Symposium, Holiday Inn, Port Moresby, 29-30.
⢠Dr. R. Vasanthagopal (2011), âGST in India: A Big Leap in the Indirect Taxation
Systemâ, International Journal of Trade, Economics and Finance, Vol. 2, No. 2, April
2011.
⢠Ehtisham Ahamad and Satya Poddar (2009), âGoods and Service Tax Reforms and
Intergovernmental Consideration in Indiaâ, âAsia Research Centerâ,LSE,2009.
⢠Girish Garg, (2014), âBasic Concepts and Features of Good and Service Tax in Indiaâ.
⢠Nitin Kumar (2014), âGoods and Service Tax in India-A Way Forwardâ, âGlobal Journal
of Multidisciplinary Studiesâ, Vol 3, Issue6, May 2014.
⢠Pinki, Supriya Kamna, Richa Verma(2014), âGood and Service Tax â Panacea For
Indirect Tax System In Indiaâ, âTactful Management Research Journalâ,Vol2, Issue 10,
July2014
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⢠https://en.wikipedia.org/wiki/Goods_and_Services_Tax_(India)
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⢠http://www.gstindia.com/about/
⢠http://www.siamindia.com/publications.aspx?mpgid=42&pgidtrail=44
⢠http://www.profitbooks.net/goods-and-service-tax-gst/
⢠http://www.hindustantimes.com/business-news/gst-5-things-that-make-the-tax-reform-a-
technological-nightmare/story-iSgSrTqkgG8vsEbY5Uk6RP.html
⢠http://economictimes.indiatimes.com/topic/GST