Implementation of GST will expand Indian economy by 1%

Service tax consultant in Delhi

According to Mr. Prashant Kumar, Additional Commissioner, Service Tax, Mumbai-I informed GST holds the potential to make Indian products improve compliance, globally competitive and contribute to the expansion of the Indian Economy by at least 1% of GDP.
On March 20, 2017, the Union Cabinet approved 4 crucial GST bills, viz. CGST, iGST, UTGST and the Compensation Bill. These Bills are expected to be tabled in parliament shortly as Money Bills.

The Government is all set to roll out crucial GST on July 1, 2017.

GST is a major step towards streamlining various Union and State indirect taxes and will help in speeding up the transportation of goods and services between various states.
One of the key promises of GST is the ability to data mine the vast information which will be collected by the government.

This will help the Government to ensure strict enforcement of rules and regulations and go after defaulters and tax evaders. 

Source: http://bit.ly/2nOwH84
http://www.narendramodi.in/media-coverage/534811

The countries in three continents : After Modi's india, Demonetisation is spreading around the world

Six weeks ago, when prime minister Narendra Modi announced his government’s decision to demonetise Rs500 and Rs1,000 notes, it wasn’t just Indians who were taken aback.
World leaders, economists, and international organisations watched the bold experiment with a mix of wonder and worry. Would it work as a means to crack down on unaccounted cash and counterfeit currency in foreign companies subsidiary? So far, Modi’s move has left millions scrambling for cash, hitting consumption and thereby threatening GDP growth in India.
Nonetheless, it now appears Modi’s move was just the first of a handful of such year-end demonetisation exercises around the world

Read more information visit at: http://bit.ly/2hf7K0W

Donald Trump meets Indian business partners in New York, praises PM Modi’s work

US President-elect Donald Trump, who is busy in planning the transition to his presidency in January, on Tuesday met his Indian business partners in New York and praised Indian Prime Narendra Modi’s work saying ‘he is doing a great job’.

According to a report in Economic Times, Trump, who met Atul Chordia, Sagar Chordia and Kalpesh Mehta at Trump Tower in New York on Tuesday afternoon, said that ‘he wants to expand and cement ties with India’.

“Donald Trump was praising Modiji as always and added that he is doing a great job,” Sagar Chordia, director of Panchshil Realty, said.

The report said that Trump’s family was also present at the meet during which they discussed the Indian economy at length. 

They, however, didn’t discuss about the government’s recent decision to scrap Rs 500 and Rs 1000 notes. But Kalpesh Mehta of Tribeca, Trump's India partner, mentioned that Trump’s kids knew about it and they termed it as an ‘incredibly bold move’.

Mehta further stated that Donald Trump Jr expressed satisfaction with the pace of Trump Organization’s India business and showed interest in expanding it further.

PM Modi has forged a close working relationship with the US government and recently he had said that he is ‘looking forward to work with Trump with whom he has good relations’.

It is worth mentioning here that Trump, 70, is a confessed fan of India. During his presidential campaign, he had India as ‘key strategic ally’ and lauded economic policies of the government saying ‘he wants to work with New Delhi’.

Trump defeated Democrat’s Hillary Clinton in a stunning end to the Presidential race. He will take over as the 45th President of the United State on January 20.

Read originally published article here: http://bit.ly/2f9GdtL

Rahul visits bank to exchange old note, hits out at Modi

On Friday, even as Congress vice-president Rahul Gandhi stood in solidarity with others in a serpentine queue outside a branch of the State Bank of India on Parliament Street, to exchange his old notes, his colleague and former Union Minister Anand Sharma attacked the government for unleashing “financial chaos” across the country: the Centre, he stressed, had no legal power to limit people’s access to their own money deposited in banks.

Slamming Prime Minister Narendra Modi for taking an ‘anti-poor’ measure, Mr. Gandhi said ordinary people were waiting for long hours to exchange their demonetised 500 and 1,000 rupee notes. “There is no crorepati in the queue,” Mr. Gandhi said. “People are facing hardships: that’s why I have come to join them. I am here to exchange my Rs. 4,000 with new notes. ”

Taking a swipe at the media, Mr. Gandhi told the gathered reporters, “Neither you [reporters] nor your crorepati owners nor the Prime Minister understand the problems faced by people.”

After reaching the SBI’s Parliament Street branch at around 4.25 p.m., he waited for his turn in the queue, interacting with others, listening to their troubles, and obliging people who wanted to take selfies with him.

Meanwhile, at the AICC headquarters, hours after BJP chief Amit Shah described those criticising the demonetisation of Rs. 500 and Rs. 1,000 notes as votaries of black money, Mr. Sharma said, “For the past two days, we have seen financial chaos unfold across the country. The government has no power to impose withdrawal limits for people’s money in banks.”

Accusing Mr. Shah of misleading the country, he said the Modi government had failed to make adequate prior arrangements as banks and ATMs were running out of money.

Stressing that around 60 per cent of the population — small traders, shopkeepers, daily wagers and labourers — were unnecessarily suffering, he said it was the right of the opposition to voice people’s concerns: “We will seek accountability from the government.”

Mr. Sharma said when the previous UPA government had withdrawn a particular series of Rs. 500 and Rs. 1,000 notes in January 2014, people had been given sufficient notice to exchange their money.

“Prime Minister Modi had said that cautioning the people would have alerted terrorists and money launderers. That is a silly argument. Which terrorist would have gone to the bank to get cash exchanged?” asked Mr. Sharma.

Original Article: http://bit.ly/2fXo3kr