No GST on Petroleum Products for now.

The center has ruled out the inclusion of petroleum products in GST for now, it was being reported by many news channels that the petroleum products can be included in GST but now the Government has dismissed any possibility at least for now.

The Aviation Sector has been asking for petroleum products to be included in GST so that a uniform price for aviation fuel can be achieved but after the government rejecting the proposal the aviation sector is not happy over the decision.

When GST was introduced, the states and the center had decided to pool their powers. Now GST council holds the power for implementation and review of decisions regarding GST.

The panel headed by the Union finance minister now decides the rates and the indirect tax regime, leaving only a few items with the state FM.

If petroleum products are included in GST, the move will only benefit the companies not the general public and that may be the reason the government is not keen on the inclusion, as government believes that the taxes on ATF are passed on the public.

Finished politics of appeasement .. First time Haj pilgrims will have to fill the GST tax .

The government and the development of all of them, it has been seen to be quite right now and without any appeasement, the government is moving towards equally adhering to a rule. It is worth mentioning. That Haj pilgrimage will be more expensive this time. The pilgrims now have to give 18 percent GST on air travel. Last time GST had to pay 5 percent. In addition to GST, this time UDF and PSF (Saudi tax) will also be given.

Haj Committee of India has issued Hajj’s guide line. According to this, the amount of Haj pilgrimage will be deposited in three parts, whereas in the previous Haj pilgrimages, the amount has been deposited in two installments only. Parmi Khan Warsi, the founder of Bareilly Haj Seva Samiti, told that the first installment of Haj for the first installment of 81 thousand rupees and the second 1.20 lakh rupees will be deposited at the end of 2019. The remaining third installment will be fixed after the financing of Bank and Saudi Riyal. According to the Indian currency, according to the difference of Azizia and MCNVZ category, they have to pay.

However, the opposition has started in this case. On the occasion, a meeting was held at the office of the Civil Lines office of Bareilly Haj Seva Samiti against GST. In this, Mohsin Irshad, the in-charge of the committee, demanded the removal of GST from the Haj pilgrimage from the Indian government. He said that Haj is his religious journey. According to his own statement, Muslims go to Saudi Arabia to pay their Haj effect, not to do business, so Haj travels should be kept free of GST .Haz trainer Haji Yasin Qureshi said that GST and Saudi tax UDF and PSF should be done on Haj pilgrimage. Haji Saqib Raza Khan, Haji Abdul Latif Qureshi, Haji Tahir, Nihal Khan, Ahmed Ullah Warsi, Shahid Raza etc. were present in this meeting.

Prime Minister Narendra Modi says that India ideal investment destination in the world

Prime Minister Narendra Modi inaugurated Uttarakhand’s first investors summit on Sunday, saying India is the ideal investment destination in the world today with major social and economic changes sweeping the country.

Addressing the country’s top business leaders and industrial houses at ‘Destination Uttarakhand: Investors Summit 2018’, Modi said the country was passing through an era of unprecedented social and economic changes at present and expressed confidence that in the coming decades India will become the engine of world economic growth”Fiscal deficit has come down, the rate of inflation has come down. The middle class is growing and the country is full of demographic¬†dividend.”

“In the past four years, the state and central governments together have taken over 10,000 measures, which have helped the country improve its position in the ease of doing business rankings by 42 points,” Modi said, describing the current times as the best for investors in the country. GST is the biggest tax reform in the country post-independence which has turned the country into a single market, he said.

Highlighting rapid growth in the infrastructure sector, the prime minister said 10,000 km highways have been built, which is double in comparison with what was done by earlier governments. The aviation sector is growing at a record speed with 100 new airports and helipads coming up across the country. Type II and Type III cities are getting air connectivity.

With the high-speed rail projects and metro lines in various cities and the Centre’s policy of housing for all, power for all, fuel for all and banking for all, the scenario of an ideal investment destination becomes complete, Modi said.”My message to investors is ‘make in India’ but not just for Indians but for the whole world,” he said.

The prime minister said schemes like Ayushman Bharat Yojana will provide health insurance coverage to a huge population and it will also open up huge opportunities for investors in the health sector.Describing Uttarakhand as a shining jewel in the crown of emerging new India, Modi extended an invitation to top industrial houses to invest in the state, which has taken huge strides in its development since its creation.When former Prime Minister Atal Bihari Vajpayee decided to create Uttarakhand, the challenges were big but now the scenario has changed, with major steps taken in terms of infrastructure building and connectivity.

“The state government’s new policy on tourism, which gives it the status of an industry, is going to give a big advantage to investors coming to the state. The new policies framed by the state government like support subsidy for investors in the MSME sector will be another advantage,” he said. With its unique blend of nature-adventure-culture and yoga, Uttarakhand has enough to stimulate the interest of investors, he said, adding that it has the potential to emerge as the country’s “Spiritual Eco Zone” (SEZ).Noting that the states had great potential, Modi said if India is able to channelise its strength nothing can stop it from growing expeditiously.

Emphasising that the strengths of each of India’s states surpass those of many European countries, Modi said if every state recognises its strengths and develops accordingly nothing can stop the country from growing by leaps and bounds.

Citing his own experience after he took over as the chief minister of Gujarat for the first time, he said journalists decided to grill him as he was new in the office and asked him what model he had in mind for the development of the state.”I said, I will follow the model of South Korea. They were puzzled to hear my answer because they had little idea about South Korea. But, I explained to them how that model could work for Gujarat as it had a similar size of the population and a similar geography,” Modi said.The prime minister asked the investors to expedite their projects in the state where they have an industry-friendly government.

Uttarakhand Chief Minister Trivendra Singh Rawat thanked the prime minister for his constant support and guidance without which organising the summit like this would not have been possible.

 

Union Finance Minister Arun Jaitley on Saturday reiterated that the Bharatiya Janata Party (BJP)-led Central Government

Finance Minister also expressed the government’s confidence in maintaining a growth rate higher.Confident of strictly maintaining fiscal deficit at 3.3 per cent: Jaitley

Union Finance Minister Arun Jaitley on Saturday reiterated that the Bharatiya Janata Party (BJP)-led Central Government is confident of strictly maintaining the fiscal deficit target at 3.3 per cent.

Addressing the media here, Jaitley said, “The Prime Minister took a review of the various departments of the Ministry of Finance, following which he expressed his satisfaction with regard to the broad parameters in relation to the economy and the macroeconomic parameters which are emerging this year. The government is confident and will strictly maintain the 3.3 per cent fiscal deficit target.”

“As far as capital expenditure is concerned, which is necessary for maintaining a high trajectory growth, already we have spent about 44 per cent of the budgeted expenditure till August 31 and we’ll end the year without any cuts and will maintain the 100 per cent capital expenditure,” Jaitley added.

The Finance Minister also expressed the government’s confidence in maintaining a growth rate higher than what was projected in the budget earlier this year, adding that the inflation is broadly under control.

Jaitley further stated that the government was ahead of schedule as far as the direct tax collection was concerned and that the impact of the anti-black money measures – Demonetisation and the Goods and Services Tax (GST) by the Prime Minister Narendra Modi-led government– was apparent.

“There is a phenomenal increase in the assessee base – the number of people filing returns. The CBDT made it clear that we will collect in excess of what was the budgeted target. With regard to the GST and other indirect taxes, the GST is settling down and with the kind of pickup in consumption which has taken place, it will have an impact on GST collection in future months and we’re confident that the government would comfortably meet the targets,” Jaitley said.

Speaking on the non-tax revenues, Jaitley said that the program for divestment and strategic sales for this year were considered and that the government was confident of surpassing their targets.

“We are optimistic about our growth rate, about our tax collections, and certainly as far as the fiscal deficit is concerned, we are confident we will be able to meet the 3.3 per cent target,” Jaitley said in conclusion.