Ireo City Plots Site Update Aug 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.