Indian Economy: News and Discussion

[Knowitall]

does "she" alone decides GST rates, finance ministers of states have no role to play?

Finance ministers of the state can only recommend but not implement major changes themselves.

 

[ezsasa]

Finance ministers of the state can only recommend but not implement major changes themselves.

partially true.

it's a consensus based system. if no consensus, no decision will be made.
notice how many decisions are going back to review committee in every GST council meeting.
=====
The Functioning of GST Council:

The Council must have at least 50 percent members present and to be able to hold a meeting and make recommendations. The suggestions made by the council need a three-fourth majority of the members present and voting in the meetings. The central government’s vote counts as one-third of the total votes, while the weightage of the states’ total votes are two-thirds.

 

[Shuturmurg]

15 companies selected under 2nd Round of PLI Scheme for White Goods (ACs and LED Lights) with committed investment of Rs 1,368 crore

A total of 15 applicants have been selected under the 2nd round of the PLI scheme in White Goods. Af

pib.gov.in

 

[no smoking]

Only problem is how will you get access to Yuan? You go take dollars to Chinese central Bank which in this case is PBOC and exchange it for yuan. You are basically draining the forex and worse you are propping the currency of the enemy nation. You have to take whatever rate they are going to give you. And they are not going to give you a good deal, trust me.

No, you don't need to go the central bank for Yuan. There is an offshore RMB - CNH! You buy them from Hongkong, London, etc. The rate of offshore CNH is essential controlled by market instead of Chinese central bank.

 

[tribendra bisoi.]

Business Reforms Action Plan 2020' report

 

[Butter Chicken]

Export duty put on petroleum products. Negative for Reliance and other refineries, they were selling to Europe but good for domestic market

 

[Kumata]

Knives spoons she has gone mad.

View attachment 162079

IMO Govt is itself stoking inflation now ...

GST rates revised: What gets cheaper, what gets costlier? Here's full list

Already reeling under high inflation, the common man is likely to suffer more with the GST Council deciding to increase rates on some products and services, besides bringing more items under its ambit.

www.tribuneindia.com

She is hitting daily use stuff now. Atleast spare the daily food items..plan seems to bring more & more agriculture sector into tax net albeit indirectly..

For banks, her funda seems to be simple... Deposit u pay, withdraw.. u pay.. xfer .. u pay..keep cash.. u r making black money... Pls beg.. don,t earn...




Come July 18, 18 per cent Goods and Services Tax (GST) will be applicable on bank cheque book/loose leaf cheques and 12 per cent on maps, atlas, and globes.

Similarly, unbranded but pre-packed curd, lassi, butter milk, food items, grains etc will be brought under the GST net from the exemption list.

Writing, printing, or drawing ink will also become costlier.

The rate on machines for cleaning, sorting or grading seed, and grain pulses, machinery used in milling industry or for the working of cereals etc, 'pawan chakki', or air-based atta chakki, wet grinder goes up from five per cent to 18 per cent.

Machines for cleaning, sorting or grading eggs, fruit or other agricultural produce and its parts, milking machines and dairy machinery will have rates going up from 12 per cent to 18 per cent.

 

[sauntheninja]

IMO Govt is itself stoking inflation now ...

GST rates revised: What gets cheaper, what gets costlier? Here's full list

Already reeling under high inflation, the common man is likely to suffer more with the GST Council deciding to increase rates on some products and services, besides bringing more items under its ambit.

www.tribuneindia.com

She is hitting daily use stuff now. Atleast spare the daily food items..plan seems to bring more & more agriculture sector into tax net albeit indirectly..

For banks, her funda seems to be simple... Deposit u pay, withdraw.. u pay.. xfer .. u pay..keep cash.. u r making black money... Pls beg.. don,t earn...




Come July 18, 18 per cent Goods and Services Tax (GST) will be applicable on bank cheque book/loose leaf cheques and 12 per cent on maps, atlas, and globes.

Similarly, unbranded but pre-packed curd, lassi, butter milk, food items, grains etc will be brought under the GST net from the exemption list.

Writing, printing, or drawing ink will also become costlier.

The rate on machines for cleaning, sorting or grading seed, and grain pulses, machinery used in milling industry or for the working of cereals etc, 'pawan chakki', or air-based atta chakki, wet grinder goes up from five per cent to 18 per cent.

Machines for cleaning, sorting or grading eggs, fruit or other agricultural produce and its parts, milking machines and dairy machinery will have rates going up from 12 per cent to 18 per cent.

Gst for hospital beds also marne mei bhi shanti nai hai

 

[Kumata]

Gst for hospital beds also marne mei bhi shanti nai hai

Only if Daily room rent is re 5000 or above , which IMO is peanuts for a good hospital...on single basis...or Go for a common ward bed ... and get infected from others..

 

[DEV1729]

I guess this is the second best move, we will use Yuan only for some trades with Russia, so no significant use apart from making front page newspaper headlines... And let the Chinese banks handle sanctions et al. If Russian cos. don't want payment in rupees, then there's not much we can do... Have to be pragmatic here, for cheap commodities.

We need to stop import dependencies on fertilizers,energy and electronics

 

[thebakofbakchod]

Vivo industrial park

Chinese electronic company Vivo is building a 7000 crore manufacturing base in YEIDA's Sector 24, sprawling across a 169 acre plot. This plant will employ around 25000 people once fully built. Right next door is Patanjali's proposed food park which has been pending for a while. They have pledged to invest 6000 crores in multiple phases and employ around 25000 people in their 430 acre plot. YEIDA has a pretty bright future ahead. If only other cities in UP could get such investments

 

[gslv markIII]

 

[Butter Chicken]

So now we’ll have atleast 2 semiconductor fabs?

Just an MOU.

 

[shade]

Hope it materialises.

 

[sauntheninja]

Vivo industrial park

View attachment 162239

Chinese electronic company Vivo is building a 7000 crore manufacturing base in YEIDA's Sector 24, sprawling across a 169 acre plot. This plant will employ around 25000 people once fully built. Right next door is Patanjali's proposed food park which has been pending for a while. They have pledged to invest 6000 crores in multiple phases and employ around 25000 people in their 430 acre plot. YEIDA has a pretty bright future ahead. If only other cities in UP could get such investments

Chinese electronic company yay or nay?

 

[thebakofbakchod]

Chinese electronic company yay or nay?

Like that porki PM said, beggars cant be choosers. You can give Indian companies another 10 years and they still wont make such large investment commitments in this sector. Micromax and Lava were happily screwdriving Chinse phones and labelling them as made in india, and the investments they are making now even under the PLI scheme is still only a few hundred crores. Tata electronics is the only one who seem serious about investing into the local electronic ecosystem. They are investing a similar amount in TN.

 

[notaname]

For banks, her funda seems to be simple... Deposit u pay, withdraw.. u pay.. xfer .. u pay..keep cash.. u r making black money

True, just costs even to withdraw from ATM's, bank you already pay gst, they have capped on withdrawal, you need to pay gst if you want pay instantly, the only way they have left is to pay through NEFT, which is free as of now maybe she will come to know about that also and tax the hell out of it.

 

[Haldilal]

Ya'll Nibbiars The Hazoor Multi Projects Ltd. bags contract from Gayatri Projects Ltd for completion of balance change work of Samruddhi Maha Marg Pkg - 11 in Ahmednagar, Maharashtra. The Order Value : 220.41 crores rupees.

 

[Haldilal]

Ya'll Nibbiars The Gemini Edibles and Fats India Ltd. to invest 500 crores rupees to set up an integrated edible oil manufacturing unit in Telangana. The unit will be spread over 50 acres.

 

[Haldilal]

Ya'll Nibbiars The Essar Oil will invest Rs. 7,000 Cr to establish 220-250 wells for shale gas exploration in Burdwan district of West Bengal, creating more than 5,000 jobs. ONGC scientists discovered the world’s second shale gas poll near Durgapur back in 2011.