Finance minister promises to bring real estate under GST soon

News Network
July 2, 2017

New Delhi, Jul 2: A day after the launch of Goods and Services Tax (GST), Finance Minister Arun Jaitley promised to bring the real estate sector under its ambit soon.gst copy

“In the next GST Council meeting, we will take up the issue,” he told a private TV channel on Saturday.

Delhi Deputy Chief Minister Manish Sisodia had in March written to Jaitley, urging him to bring real estate under GST to ensure transparency and curb hoarding of land and property.

But a few states are opposing the idea, Jaitley said.

“The chief economic adviser has given several presentations on the significance of bringing the sector into the GST fold. We will go ahead,” Jaitley asserted.

By keeping real estate out of GST, experts fear, the government has allowed space for black money to flourish.

Jaitley said the GST rates of 12% and 18% could converge sometime in the future. If the tax payers' base increases, the rates can come down, he explained.

Replying to criticism over multiple tax rates under GST, Jaitley said, “We could have fixed a standard 15% for all goods but it was necessary to bring down prices of food items for the poor.”

Revenues earned through indirect taxes would be used to reduce the income tax burden on the salaried class, he reiterated.

Allaying the fears of the traders, the finance minister said there is no reason for unease among traders about GST as it is the consumers who ultimately pay.

"Traders are not liable to pay tax. The tax ultimately is paid by the consumers.”

When the end consumers are ready to pay tax, why are traders worried?" he asked, adding that a lot of opposition has come from people who do not want to pay any tax. "Unease over the transition is natural but there is nothing to worry about. Many people think not paying tax is their fundamental right. This government refuses to buy this argument. You are using the roads and other amenities of the government...and, therefore, this government does not believe in not paying taxes," he said.

I-T worries

The real reason behind their worry, he said, was the fact that the entire gamut of transactions of a business would go online, "the trade volume would eventually increase and have a significant impact on their income tax,” Jaitley said.

The finance minister said, "An efficient system will help in increasing the tax base and check tax evasion."

Jaitley dismissed concerns about multiple compliance and the documentation that the GST would increase.

"Businesses need to file only one return. They will have to file their return before 10th of every month for the transactions held in the previous month. GST will ease the process of finding defaulters," he said.

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News Network
March 24,2020

Bangalore , Mar 24: Bizom, India's leading retail intelligence platform, announced free subscription of its retailer app and tele-ordering solutions for consumer businesses in India and other emerging economies. Both solutions enable retailers to send their orders directly to the brand.
In COVID-19 times of social distancing and prophylactic measures, brands are conscious about the safety of their salespersons. Also, retailers don't want travelling salespeople to enter their premises. Consequently, many retail stores are facing stockout situations of fast-moving product categories. Bizom's self-ordering solutions help brands to avoid stockouts of their products.
Bizom trends, which analyses consumption and demand for consumer brands, showed how a near-complete shutdown during the Janta Curfew followed panic buying in early March. The asymmetrical demand and a lack of salespeople for order-taking are driving the industry towards social-distancing-based store-stocking mechanisms.
Bizom provides social-distancing-based store-stocking solutions for consumer businesses. They include the Bizom Retailer App and the Bizom Tele-ordering.
The Bizom Retailer App enables self-ordering for a brand's key retail outlets and can be implemented in under two weeks. The mobile app, a B2B shopping app, is a simple installation for retailers. It lists and groups the brand's products as per its product categories. The app's interface is no different from that of leading e-commerce apps. All the user has to do is select the preferred SKUs and add them to their shopping carts.
The app also allows brands to customize the app to meet the requirements of their continually changing product categories. For instance, if an SKU runs out of stock, the brand can disable the given SKU from the app.
With the Bizom Retailer App, brands can take orders directly from retailers instead of the traditional order-taking approach, which requires high-touch from a salesperson. Some of the key features of the app are, the ability to provide product information directly through retailers including SKUs, competitor comparison and pricing.
It also enables self-ordering from the retailer to maintain the flow of products as per demand, enables scheme rollout information through a notification on the app rather than through salespeople, tracks delivery of goods to the retailer and enables incentive payments to retailers directly rather than through distributor claims.
With Bizom Tele-ordering, as the sales teams go remote, the tele-ordering solution will become useful for brands who want to get salespeople to take orders from retailers, remotely. It ensures continued service to outlets despite not being physically present in the market.
Here, salespeople can discuss product requirements with retailers and enter orders based on specific outlet types (grocery, chemist etc.), outlet class (Class A, Class B etc.) or based on their beat or as per a distributor.
The key features of the Bizom Tele-ordering solution are, its ability to help salespeople collect orders from retailers remotely and enter it for fulfilment into Bizom using a tool, the flexibility offered to salespeople for remote servicing of retailers as per outlet type, beat, distributor area etc., secondary schemes get applied automatically, variable discounts will get applied as applicable at an SKU level.
"At Bizom, we are conscious of our responsibility to help brands run faster during these COVID-19 times. Our solutions of Bizom Retailer App and Bizom Tele-ordering have been built to ensure that brands can leverage this situation of low direct touch with retailers to enable a better way of working, remotely. I am trying to help brands go live in a few days so that they, in turn, can serve consumers better during these testing times," said Lalit Bhise, CEO, Bizom.

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coastaldigst.com web desk
June 20,2020

New Delhi, Jun 20: As part of measures to check the spread of covid-19, Indian Railways is likely to stop distributing blankets and pillows in trains to AC passengers in coming days and it will make arrangements for sale at stalls on platforms.

The railways already stopped distributing blankets and pillows in 15 pair Special Rajdhani trains and 100 pair of fixed timetabled special trains, which is being operted at present. The system of not distributing blanks and pillows may continue in future once train operations normalise, said the official.

Passengers are encouraged to bring their own blankets and pillows. However same will be made available for purchase at shops so that if passengers want they can buy it, said an official.

The railways also made arrangements to sell sanitisers, masks and gloves at shops. The national transporter also said sale price should not exceed maximum retail price.

As per the Railway Board circular to zonal railways, " Amongst the items which fulfill the needs of travelling public and in keeping with the emphasis for providing safe and hygine travel facilities to passengers, it must be ensured that take away bedrolls kits/items other COVID-19 related protective items such as masks, sanitiser, gloves etc are also made available for sale through multi purpose stalls."

All items should be in good quality and will be sold only at MRP rate, circular said. The railways has also permanently removed curtains inside the AC coaches.

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News Network
January 7,2020

Bengaluru, Jan 7: The Central Crime Branch (CCB) sleuths held an international bookie in connection with the Karnataka Premier League (KPL) betting scam and spot-fixing racket, police said on Tuesday.

The bookie was identified as Jitin Sait (32), a native of Sonipat in Haryana.

'We had obtained and issued a Look Out Circular (LOC) against Sait, and on Sunday, he was caught after he landed at the Kempegowda International Airport from the Netherlands.

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