-The Times of India MUMBAI: For the middle class, an immediate impact of GST would be the higher premium outgo due to the increase in rate of tax on insurance following implementation of the Goods and Services Tax. For families that own a car and pay for health and term insurance the increase in annual outgo would be close to Rs 1,000. "The immediate impact will be an increase in the tax...
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GST rates announced; milk, cereals to be exempted -Yuthika Bhargava
-The Hindu 81% items to be taxed at below 18% The Goods and Services (GST) Council on Thursday agreed on the fitment of almost all commodities in the various tax slabs under the new indirect regime to be rolled out on July 1. Milk, cereals (unpackaged and unbranded), and jaggery will be exempt from any GST, while sugar, tea, coffee (except instant), and edible oil will be taxed at 5%. Common use items...
More »New WPI series suggests higher core inflation rate in past 6 months: CRISIL
-Business Standard WPI inflation for April is at 3.9%, which is 144 (bps) lower than the March inflation rate The Ministry of Commerce and Industry unveiled the revised wholesale price index (WPI) on May 12, 2017 as per the 2011-12 base year. As per this release, WPI inflation for April is at 3.9%, which is 144 basis points (bps) lower than the March inflation rate. The decline is mainly due to a...
More »Look at the facts of demonetisation, not politics -Kaushik Basu
-The Indian Express Six months later, it is clear that it achieved next to nothing, and inflicted a large cost on the poor and the informal sector. It was six months ago, on November 8, that India hit the headlines the world over, with its sudden demonetisation. It was announced in the evening that, at the stroke of the midnight hour, all bank notes of Rs 500 and Rs 1,000 would cease...
More »Why Are Cesses Meant For Workers' Social Security Being Abolished? -Bharat Dogra
-TheWire.in After the government cancelled certain cesses that were meant for labourers’ welfare in preparation for the GST, activists suspect that many such moves may be around the corner. Assaults on the hard-earned rights of several categories of workers have been on the rise in recent times, evidenced by the cancellation of cesses meant to be utilised for workers’ social security. If left unchecked, such changes can lead to much bigger losses...
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