Thursday 11 August 2016
Thursday 4 August 2016
GST IMPACT ON VARIOUS SECTOR.
GST IMPACT ON VARIOUS SECTOR.
1) BANKS - Current service tax 15% know after GST 18% Negative.
2) CONSUMER STAPLES current tax rate 22% know after GST it's 18% .
Positive for - Asian paints,Dabur,HUL,EMAMI
NEGATIVE for ITC & UNITED BEVERIES.
3) CONSUMER DISCRETIONARY current 15% after GST 18%
NEGATIVE for Jubilant Food works,Coffe Day ,& Restaurant Businesses.
4)MEDIA - current Tax 15% service tax and 7% entertainment Tax by State's know After GST it will be 18%
POSITIVE for DISH TV, VIDEOCON D2H, BIG TV,
5) TELECOM current Tax 15% After GST 18% may see marginal dip in consumption as tax rise from 15% to 18%
6)AUTO INDUSTRIES current Tax 27% after GST it will be 18% .
POSITIVE for M&M, MARUTI,BAJAJ AUTO , EICHER MOTORS,ASHOK LEYLAND .
7)METALS - current TAX 18% after GST 18% no major impact
8) CEMENT - current Tax 27% altogether after GST it will be 18%
POSITIVE for Ultra tech cement,shree cement,ambuja cement etc.
9) PHARMA - current Tax 15% after GST it will be 18% .
NEGATIVE for Pharma companies.
10) REAL ESTATE - 15% to 16% Stamp duty so no major impact on REAL ESTATE companies.
11) LOGISTICS - majorly benefits to logistics sector no impact of GST
POSITIVE for - Container Corp, GATI etc...!
GST news:
Congratulations 👍👍👍
Constitution (122nd) Amendment Bill, 2014 enabling levy of GST by Central Government as well as State Governments is finally passed by Rajya Sabha with 100% in favour of the same 👍👍
Now it shall go back to Lok Sabha to approve the amendments made by Rajya Sabha.
Thereafter it shall be ratified by at least 16 States before being presented to the Hon'ble President of India for his assent.
Cabinet approves amendments to GST Bill
Cabinet approves amendments to GST Bill, removes 1% additional tax
*GST highlights*
1. Be ready for 36 to 49 returns per year.
2. Lumpsum turnover limit 50 lacs
3. Input tax credit available only if Electronic data matches.
4. 15 digit pan based GST no.
5. Penalty for return Per day Rs.100 and maximum Rs.5000
6. Output,input and summary based returns submission.
7. Tax credit only available if sellers tax shows online.
8. Liquors,petroleum products out of GST net.
9. Return filling limit 10,15,20 days after due date for type of return.
10. Threshhold turnovrr limit is 10 lacs and for north east 5 lacs.
11. Jammu and kashmir is also included in GST regime.
12. TDS limit 10 lacs.
13. Existing TIN will be migrated and issue Provisional GST is valid for 6 months..if documents submitted within 6 months than Final GST will be allotted.
14.Tax audit figure and GST data has to be reconciled in annual return.
15. If any mismatch in data than data will be transferred to IT dept.
Thursday 28 July 2016
Saturday 21 May 2016
Thursday 10 March 2016
Rajya Sabha passed the Real Estate Regulator Bill
The Rajya Sabha passed the Real Estate Regulator Bill, which will help regulate the sector and bring in clarity for both buyers and developers, on Thursday, 10th March 2016.
Moving ‘The Real Estate (Regulation and Development) Bill, 2015’ for consideration and passage, Urban Development Minister M Venkaiah Naidu said it aims to protect the interests of buyers and bring more transparency in the sector.
Here are 10 things to know about the Bill’s reforms and regulations that will come to the Indian real estate sector:
• The bill will help establish state-level Real Estate Regulatory Authorities (RERAs) to regulate transactions related to both residential and commercial projects and ensure their timely completion and handover. Projects measuring more than 500 sq. m. or more than eight apartments will be required to register with the RERA.
• The bill proposed that a minimum of 70% collections from buyers should be deposited in separate escrow account to cover the cost of construction and land. States can increase the ceiling but not lower it.
• Unaccounted money will be prohibited from being pumped into the sector, and as now, 70% of the money has to be deposited in bank accounts through cheques.
• Appellate Tribunals will now be required to adjudicate cases in 60 days, and Regulatory Authorities will be required to dispose of complaints in 60 days.
• The Bill also provides for imprisonment of up to three years in case of promoters and up to one year in case of real estate agents and buyers for any violation of orders of Appellate Tribunals or monetary penalties or both.
• Developers are required to post all information including but not limited to project plan, layout, government approvals, land title status, sub-contractors to the project, and schedule for completion with the State Real Estate Regulatory Authority (RERA).
• Carpet area has been clearly defined in the bill to include usable spaces like kitchen and toilets.
• The bill seeks to impose strict regulations on the developer and ensure that construction is completed on time. The builders will also benefit from the proposed legislation, as it proposes to impose penalty on allottee for not paying dues on time.
• A developer’s liability to repair structural defects has been increased to 5 years from the earlier 2 years.
• The developer cannot make changes to the plan that had been sold without the written consent of the buyer
Moving ‘The Real Estate (Regulation and Development) Bill, 2015’ for consideration and passage, Urban Development Minister M Venkaiah Naidu said it aims to protect the interests of buyers and bring more transparency in the sector.
Here are 10 things to know about the Bill’s reforms and regulations that will come to the Indian real estate sector:
• The bill will help establish state-level Real Estate Regulatory Authorities (RERAs) to regulate transactions related to both residential and commercial projects and ensure their timely completion and handover. Projects measuring more than 500 sq. m. or more than eight apartments will be required to register with the RERA.
• The bill proposed that a minimum of 70% collections from buyers should be deposited in separate escrow account to cover the cost of construction and land. States can increase the ceiling but not lower it.
• Unaccounted money will be prohibited from being pumped into the sector, and as now, 70% of the money has to be deposited in bank accounts through cheques.
• Appellate Tribunals will now be required to adjudicate cases in 60 days, and Regulatory Authorities will be required to dispose of complaints in 60 days.
• The Bill also provides for imprisonment of up to three years in case of promoters and up to one year in case of real estate agents and buyers for any violation of orders of Appellate Tribunals or monetary penalties or both.
• Developers are required to post all information including but not limited to project plan, layout, government approvals, land title status, sub-contractors to the project, and schedule for completion with the State Real Estate Regulatory Authority (RERA).
• Carpet area has been clearly defined in the bill to include usable spaces like kitchen and toilets.
• The bill seeks to impose strict regulations on the developer and ensure that construction is completed on time. The builders will also benefit from the proposed legislation, as it proposes to impose penalty on allottee for not paying dues on time.
• A developer’s liability to repair structural defects has been increased to 5 years from the earlier 2 years.
• The developer cannot make changes to the plan that had been sold without the written consent of the buyer
New Marketed by- Reias India Real Estate Pvt. Ltd
Sunday 31 January 2016
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