describes that what is GST, why it is being implemented and what taxes will be replaced by GST. benefits of GST will be covered under this presentation
Impact of Goods and Services Tax (GST) to the Common Mantridentbull
The Goods and Services Tax (Amendment) Bill — officially known as, the Constitution (122nd Amendment) (GST) Bill, 2014 — 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.
describes that what is GST, why it is being implemented and what taxes will be replaced by GST. benefits of GST will be covered under this presentation
Impact of Goods and Services Tax (GST) to the Common Mantridentbull
The Goods and Services Tax (Amendment) Bill — officially known as, the Constitution (122nd Amendment) (GST) Bill, 2014 — 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.
Taxes imposed on the earnings of organizations and individuals are income taxes. Marginal tax rate and flat tax rate. Marginal tax rates are harmful to the economy.
Income tax in Australia is the most important revenue stream within the Australian taxation system. Income tax is levied upon three sources of income for individual taxpayers: personal earnings (such as salary and wages), business income and capital gains.
Tax Policy Reforms with focus on VAT & GST in India - JenaChidananda Jena
Updated 80 slides training material on Goods and Service Tax of India is designed keeping the Value Added Tax and General Sales Tax in the background. General tax reforms in major direct and indirect taxes of India are discussed as introduction keeping overarching taxation guides in background. Impact of direct taxation is analyzed with some original concepts and examples. Some of the concepts and most of the examples and computations demonstrated in VAT and GST section are also original of the author.
Stephen M. Cordi from the Office of the Chief Financial Officer gives entrepreneurs tips on new tax regulations at the Washington, DC Economic Partnership's Entrepreneur Road Map seminar (4/16/14).
GST in the Cement Industry - by Frahim AdajaniaFrahim Adajania
This presentation is a brief abstract of the Goods and Services Tax (GST) applicable in the Cement Industry in India. It includes the taxes applicable before and after the implementation of GST and its effects to the industry.
There are two videos in PPT, where are black slides:
Video1: https://www.youtube.com/watch?v=wxW8GP59Sq8
Video 2: https://www.youtube.com/watch?v=VcZF_DxQ5cU
Taxes imposed on the earnings of organizations and individuals are income taxes. Marginal tax rate and flat tax rate. Marginal tax rates are harmful to the economy.
Income tax in Australia is the most important revenue stream within the Australian taxation system. Income tax is levied upon three sources of income for individual taxpayers: personal earnings (such as salary and wages), business income and capital gains.
Tax Policy Reforms with focus on VAT & GST in India - JenaChidananda Jena
Updated 80 slides training material on Goods and Service Tax of India is designed keeping the Value Added Tax and General Sales Tax in the background. General tax reforms in major direct and indirect taxes of India are discussed as introduction keeping overarching taxation guides in background. Impact of direct taxation is analyzed with some original concepts and examples. Some of the concepts and most of the examples and computations demonstrated in VAT and GST section are also original of the author.
Stephen M. Cordi from the Office of the Chief Financial Officer gives entrepreneurs tips on new tax regulations at the Washington, DC Economic Partnership's Entrepreneur Road Map seminar (4/16/14).
GST in the Cement Industry - by Frahim AdajaniaFrahim Adajania
This presentation is a brief abstract of the Goods and Services Tax (GST) applicable in the Cement Industry in India. It includes the taxes applicable before and after the implementation of GST and its effects to the industry.
There are two videos in PPT, where are black slides:
Video1: https://www.youtube.com/watch?v=wxW8GP59Sq8
Video 2: https://www.youtube.com/watch?v=VcZF_DxQ5cU
The presentations describes the 1991 Liberalization Privatization Globalization(LPG) model of Indian economy. Following are the topics discussed in the ppt:
Reasons for implementing LPG
Definitions
Advantages
Disadvantages
Disinvestment Commission
Successful privatizations in India
FDI
MNCs
Effects
Mazars - India Budget (Presentation at IFCCI event on 12 March 2015)Nicolas Ribollet
Under the patronage of H.E. François Richier, Ambassador of France to India,
the Indo-French Chamber of Commerce & Industry (IFCCI) organised a seminar on “India Budget 2015-2016” following the announcement by Finance Minister Arun Jaitley of his first full-fledged Union Budget on 28th February 2015. The French Embassy and Mazars gave insights on this very important budget. The presentation attached has been prepared by Mazars in that context.
The speakers to the event were :
- Welcome address by H.E. Mr. François Richier, Ambassador of France to India
- Economic overview by Mr. Jean-Rene Cougard, Minister Counsellor, Head of the Regional Economic Department and Mr. Daniel Villet, Financial Counsellor
- Presentation on the new initiatives of the Government, impacts and opportunities
by Mr. Nicolas Ribollet, Partner & National Leader, French Desk, Mazars India
with Mr. Agarwal, Direct Tax Partner & Mr. Manish Mishra, Indirect Tax Partner, Mazars India
This document has been prepared by the Finance Team of SED for information purpose only of its members residing both in Bangladesh and abroad, on the basis of the publicly available information in the market and own research. This document is not directed to, or intended for distribution to or use by, any person or entity that is citizen or resident of or located in any locality, state, country, or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation . The information and data presented herein are the exclusive property of SED and any unauthorized reproduction or redistribution of the same is strictly prohibited . No part of this report should be copied or used in any other report or publication or anything of that sort without proper credit given or prior written permission taken from the authorized publisher of this report . This disclaimer applies to the report irrespective of being used in whole or in part .
U.S. Gandhi Budget 2015 - 2016 AnalysisKunal Gandhi
Rarely has there been a budget as highly anticipated as this one.
Coming on the heels of the defeat of the ruling BJP in the recent Delhi elections, there were expectations that the original ‘Maximum governance, minimum government’ model would give place to a more populist agenda.
India Inc on the other hand expected improving the ease of doing business and a more rational tax regime.
While Corporate tax was lowered and Wealth tax was abolished, a major theme in the budget was creating a social security framework. Targeting a GDP growth rate of 8 – 8.5%, the budget plans to keep the deficit to within 3.9% of GDP by laying special emphasis on infrastructure development with a major spend budgeted on Road building.
All in all, though there were no big bang reforms, the budget 2015 was a good mix of Pragmatism and Populism. We are optimistic about growth and believe a lot more reforms are expected in the coming 3 years.
Interim Budget Tax Implication Analysis 2019ASC Group
The Budget for the year 2019-20 is here and the team at ASC Group has compiled an analysis of the key takeaways from the budget, especially in respect to Indirect Taxation. To know more visit: https://www.ascgroup.in/interim-budget-tax-implication-analysis-2019/
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
for beginners, providing thorough training in areas such as SEO, digital communication marketing, and PPC training in Noida. After finishing the program, students receive the certifications recognised by top different universitie, setting a strong foundation for a successful career in digital marketing.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
3. What it means for investor
• Reinvest in Start-ups to Save Tax
• Individuals and HUFs can invest their gains from selling residential property in start-ups to
save on tax. But these small enterprises will have to use the money to buy plant and
machinery. This can pave the way for a new type of entities. At present, such gains have
to be parked in certain bonds or reinvested in properties.
• Property Deals to Come Under TDS Bracket
• A property buyer has to deduct 1% tax if a deal exceeds 50 lakh for urban properties and
20 lakh in other areas. So, for a 1-crore transaction, the seller will receive 99 lakh while 1
lakh tax will be deposited by the buyer.
• Cash Purchases of Gold to be Taxed
• All cash transactions for buying gold will come under the tax net. Move may discourage
hoarding in gold. A seller of bullion or jewellery will collect 1% tax from the buyer if the
deal exceeds 2 lakh. Tax has to be paid even if the seller is not a trader or a jeweller.
• Gain in STT, Lose in Services
• The proposed 20% cut in securities transaction tax (STT) on delivery-based cash trades fell
short of expectations. The market had expected a 40-50% reduction across transactions
— delivery and non-delivery cash, futures and options. At the new rate, STT will be
charged at 0.10%, or 10,000 per 1-crore turnover on both purchase and sale against the
existing 0.125%, or 12,500. But the net impact will be insignificant as the service tax that
brokers recover from investors will go up to 12% from 10%.
4. What it means for consumer
• All that Glitters is Dearer
• Unbranded gold jewellery will attract a 1% ad valorem excise duty,
putting it in the same bracket as its branded counterpart. Standard
gold and platinum bars will attract a 4% customs duty, double the
previous level. Customers will now have to fork out at least 250 more on
unbranded jewellery of 10 gm and 550 more on gold bars of 10 gm.
• Twin Strikes of Excise and Service Tax
• The proposals to tax all services except those on a negative list and to
hike service tax and excise duty rate from 10% to 12% will increase
prices of a host of goods and services, from soaps to airline tickets.
Small cars will be costlier by up to 20,000. A 1.5-tonne, 3-star split AC will
be dearer by 1,000.
• Not Much for Rural Consumers
• Any boost comes from higher farm incomes or welfare payments. Farm
credit is to be hiked by 17%, or 1,00,000 crore, but statistics show more
loans are not increasing agri productivity. On handouts, the allocation
for NREGS, the largest scheme, is down by 17.5% to 33,000 crore. And
cash transfers are still at least a year away.
5. What it means for consumer
• Low-cost Homes will be Cheaper
• Developers can access cheaper foreign loans and home
buyers will get easier funding, thanks to a Credit Guarantee
Trust Fund and more money going into the Rural Housing Fund,
a scheme set up to provide rural housing refinance.
• A tax rebate of 1% on housing loans up to 15 lakh has been
extended for another year. Low-cost homes stay out of the
service tax net.
• Another Battle for Cattle Class
• Ailing airlines got sops, but not enough to pass them on to
fliers.
• A 2% increase in service tax will raise ticket prices by 70 to 100,
says Centre for Asia Pacifi c Aviation. The hike will make
overheads (advertising, utilities, rents) costlier for airline
companies, says KPMG. Excise duty hike will make aviation
fuel and domestic spare parts costlier.
6. Pranab Cracks Down on Tax Evaders, Lens on Gold & Realty
• F I N A N C E M I N I S T E R Pranab Mukherjee
has imposed tax deduction at source on real
estate deals and gold transactions in cash as
part of measures to step up the
government’s crackdown against black
money.
• The Union Budget has also made tax returns
compulsory for individuals owning assets
abroad. Individuals will also have to present
records of such assets for up to 16 years if
demanded by tax officials. Besides,
unaccounted for assets found during a
search will attract heavy taxes.
• Any transfer of immovable property, except
agricultural land, worth over 50 lakh in urban
areas and over 20 lakh elsewhere will be
subject to 1% TDS. Similarly, a 1% tax on cash
transactions of bullion and jewellery worth
over 2 lakh will also be deducted at source
7. What it means for business
• Big Boost for Infrastructure
• In line with its thrust on the infrastructure sector, the budget waived customs
duty on inputs for fertiliser and iron ore plants. Ailing power plants will now be
able to import fuel at a cheaper rate with full waiver of customs duty on coal,
natural gas and LNG.
• Heat on Services Sector
• The budget has raised the service tax rate as well as the number of items under
it, increasing pressure on the services industry that contributes 57% to the
country’s GDP. It proposes a negative list of just 27 types of services that will not
attract tax. These include funeral, burial and mortuary agencies, interest on
bank deposits, dividend on investments and travel on public transport. This
approach signals a move towards GST.
• Healthcare Skips Tax Net
• Healthcare continues to remain outside the ambit of service tax. The
continuation of exemption follows an unsuccessful attempt last year to impose
5% service tax on diagnostic services and AC hospitals with more than 25 beds.
Premium railway services and all aviation services have been taxed.
• Consumer Goods Lose Sheen
• Slowdown-struck consumer goods industry suffers another setback. Duties on
packaged food products and durables are set to increase, putting further
pressure on the margins of consumer durable companies, which will now have
to resort to innovative pricing strategies.
8. What it means for business
• THE HIKE IN EXCISE DUTY AND service
tax to 12% from 10% may temper
demand in the economy at a time
when India Inc is reeling under the
pressure of higher interest rates.
• All services, barring 27 types that are
in the negative list, will now fall
within the tax net.
• Healthcare, education, public
transport by buses and metros,
some government services and
interest on bank deposits will remain
out of the tax ambit.
9. SERVICE TAX TAKES IT AWAY
• By raising the service tax rate to 12% from 10% and
applying it on many more services BUT SERVICE TAX
TAKES IT AWAY
• You will pay 2% higher tax on your mobile bill, hotel stay,
under-construction house, and many more services
• You will now have to shell out 12% service tax on AC and
first-class train travel; film actors also in the net
• From just 3 services in 1994-95, the tax is now imposed on
several hundreds; revenue up from 400 crore to 95,000
crore
10.
11.
12.
13.
14.
15. Thank You Economic
Times
• http://epaper.timesofindia.com/Default/Client.asp?
Daily=ETM&showST=true&login=default&pub=ET&Ent
er=true&Skin=ETNEW
• K.Ashwin Kumar
• s9guru@gmail.com