Month: June 2018

GST on petrol, diesel increasing; new tax structure on fuel look like this

GST on petrol, diesel increasing; new tax structure on fuel look like this

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A peak tax rate of 28 percent plus states levying some amount of local sales tax or VAT on petrol and diesel is likely to be the tax structure when the two auto fuels are covered under the GST regime, a top government official said. The peak GST rate plus VAT will be equal to the present tax incidence, which is made up of excise duty, levied by the central government, and VAT charged by the states. But before the two fuels are put under GST, the Centre has to decide if it is willing to let go of the about Rs 20,000 crore of input tax credit it currently pockets by keeping petrol, diesel, natural gas, jet fuel and crude oil out of the Goods and Services Tax (GST) regime that came into force from July 1, 2017, the official said. “There is no pure GST on petrol and diesel anywhere in the
As GST enters 2nd year, Modi government must fix these 3 next level issues now

As GST enters 2nd year, Modi government must fix these 3 next level issues now

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One year of GST: The switch to the new indirect tax regime — the Goods and Services Tax (GST) — will complete one year soon. The GST was passed after over a decade-long deadlock and the transition failed to be smooth. However, experts say that overarching teething issues have largely been resolved and now the time is to fix the next-level problems to ensure that GST achieves its target of simplifying the taxation system. The GST has made India’s indirect tax system simpler and has stabilised to a large extent, Abhishek Rastogi, Partner at law firm Khaitan & Co said in an interaction with FE Online. Now, he said, the government must take up these three issues in the second year of arguably India’s biggest tax reform. Compliance: There should be ease of compliance. The ta
WhatsApp viral message: ‘Modi government to ban WhatsApp use in country?’ Here’s the truth

WhatsApp viral message: ‘Modi government to ban WhatsApp use in country?’ Here’s the truth

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A fake report being circulated on Whatsapp, and through e-mails, claims that the Narendra Modi government may ban the use of popular messaging platform WhatsApp in the country “as it is terrorist’s favourite app for messaging”. However, this is not true. The report, dated June 14, 2018 says: “At a meeting in New Delhi yesterday, the ministry expressed its concern over anti-national elements in the country using social media apps to carry out their activities.” While it is true that top officials recently held a meeting in the wake of reports of growing use of WhatsApp by terrorists, they didn’t mull a nationwide ban on the use of WhatsApp. Instead, news agency PTI reported on June 11 that the Modi government is planning to examine the feasibility of blocking WhatsApp calling services in
Jio’s Rs. 299 Prepaid Plan Offers 4.5 GB Per Day Data, Unlimited Calling

Jio’s Rs. 299 Prepaid Plan Offers 4.5 GB Per Day Data, Unlimited Calling

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Reliance Jio's  Rs. 299 prepaid recharge plan is currently offering  126GBs or gigabytes of high-speed 4G data for a period of 28 days with a daily cap of 4.5GB data, a press release issued by the operator said. However, Mukesh Ambani-led operator's new offer is not a permanent one and is valid only till June 30, 2018. In a recent move, Jio introduced a bouquet of offers for its customers. Jio is now providing 1.5GB per day additional high-speed 4G data to every user who recharges with any daily-recurring data pack. Jio's new offer on Rs. 299 pack is part of this scheme, the release added. Jio's Rs. 299 prepaid pack originally offers 84GBs of high-speed 4G data for a period of 28 days with a daily cap of 3GB per day data. However, under the new scheme, Rs. 299 pack is offering 4.5GBs
How to become rich in India: All you need is Rs 4,000 to turn into a crorepati

How to become rich in India: All you need is Rs 4,000 to turn into a crorepati

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Financial planning at an early stage is important to ensure a secure financial future  when you grow old. However, taking care of short-term goals is equally important. This makes it important for all of us to create a balanced portfolio that focuses on long as well as short-term money goals that we have in life. Most of us tend to ignore this critical aspect, but Ashish Sharma, a 32-year old viewer of Zee Business from Jalandhar, did not do that, much to his profit. Ashish earns Rs 37,000 per month and is working methodically to become rich. He is already running systemic investment plans (SIPs) worth Rs 8000 and is well on his way to becoming a crorepati. Sharma has a goal of collecting Rs 30 lakh in 10 years, Rs 20 lakh in 20 years and another Rs 30 lakh in 25 years. Sharma also has
Detailed Comparision – Post Office vs SBI: Interest rates of FDs and RDs – Find out which one is better

Detailed Comparision – Post Office vs SBI: Interest rates of FDs and RDs – Find out which one is better

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Post offices in India offer three saving and investment options to customers – recurring deposits (RDs), saving accounts and fixed deposits (FDs). The State Bank of India (SBI) also offers the same options to its subscribers. But which of the two is beneficial for you? While savings bank accounts are meant for regular savings, FDs and RDs are good for long-term investments, mainly for people who are planning to have savings for retirement. The difference between FD and RD is that the former is a one-time investment while the latter requires periodical contributions. Here is the comparison of interest rates on recurring deposits and fixed deposits of Post Office and SBI: Post office fixed deposits: The interest rate is according to the term of the account. For one year the interest rat
PAN Card is Mandatory to Send Money Abroad

PAN Card is Mandatory to Send Money Abroad

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Reserve Bank of India has now made it mandatory to furnish PAN Card details, every time money is being sent out of India.   RBI says PAN Card Must For Sending Money Abroad :- In a detailed statement RBI said " “Statement on Developmental and Regulatory Policies”, RBI has announced that furnishing PAN Card is must for sending money abroad." Issued by Jose J. Kattoor, Chief General Manager at RBI, this press release has several updates related to financial investments and remittance abroad. RBI has altered the Liberalised Remittance Scheme rules, which allowed money transfer up to $25,000 without any PAN Card requirement. Henceforth, any amount which is sent abroad has to be accompanied with PAN Card details, so that Govt. is aware how much money is being sent out of India, and by
Jio Double Dhamaka Offer Giving Users 1.5GB Additional Data Per Day on Prepaid Recharges

Jio Double Dhamaka Offer Giving Users 1.5GB Additional Data Per Day on Prepaid Recharges

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Jio has announced a new Jio Double Dhamaka Offer that will provide users will 1.5GB extra data per day select prepaid recharge packs, Gadgets 360 has learned. The new Jio offer is effective starting today, June 12 and will be available to customers till June 30. It comes soon after Airtel reportedly started undercutting the Mukesh Ambani-backed operator for a handful of users, first with its Rs. 399 rechargeand then with the Rs. 149 pack. Along with the Jio Double Dhamaka Offer, the operator will also launch a fresh Rs. 499 recharge that provides validity of over 3 months and 3.5GB data per day. Under the Jio Double Dhamaka Offer, subscribers will get additional 1.5GB data per day at no extra charges on recharges purchased before June 30. This means packs with 1.5GB data per day (namely
IRCTC Railways’ Premium Tatkal Rules & Ticket Refund Charges; New Changes You Need To Know

IRCTC Railways’ Premium Tatkal Rules & Ticket Refund Charges; New Changes You Need To Know

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Bhubaneswar/New Delhi: The Indian Railway Catering and Tourism Corporation (IRCTC) has brought in a few changes in the ticket booking system wherein passengers will have to be cautious before booking normal tickets as well Tatkal and Premium Tatkal tickets. This apart, IRCTC has clarified about refund in case payment is Settled but Ticket Not Booked and Settlement failed and ticket not booked. Here’s all you need to know: New quota as Premium Tatkal (PT) Quota is being introduced by Railway with dynamic fare pricing. Dynamic fare stands for the fare component which may be increased with the subsequent bookings. Opening days booking to be allowed on/after 10:00 hrs. Advance Reservation Period (ARP) of Premium Tatkal ticket booking is same as Tatkal ticket booking. Agent
E-verification for passports in all districts across state

E-verification for passports in all districts across state

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TIRUVANANTHAPURAM : The e-verification system for passports, which will end the delay in obtaining police verification, will be extended to all districts within a month.DGP Loknath Behera has issued instructions to district police chiefs in this regard. Presently, the police verification report takes about a minimum of 20-30 days. In the e-verification system, the waiting period will come down to a mere four-five days, the police said on Sunday. The e-verification project was piloted in Malappuram. Following its success, the scheme was  extended to Kannur, Palakkad, Kozhikode Rural, Thrissur Rural and Ernakulam Rural. Within a month, it will be made available in the remaining police districts also. Under the new system, the personal details of the applicant will be sent to the District