Economic Survey 2018: 50% increase in indirect taxpayer base post GST
Economic Survey 2018: The Goods and Services Tax (GST) implementation has increased indirect taxpayer base by more than 50 per cent with 34 lakh businesses coming into the tax net, the Economic Survey said. The Survey, authored by Chief Economic Advisor Arvind Subramanian said, preliminary analysis of data shows GST registrants rose mainly on account of large increase in voluntary registrations, especially by small enterprises that buy from large enterprises and want to avail themselves of input tax credits. “The GST has increased the number of unique indirect taxpayers by more than 50 per cent– a substantial 3.4 million,” it said, adding GST embodies and heralds a radical alteration and enlargement in the understanding of the Indian economy.
Beating Retreat regales crowd, tribute piece for Arjan Singh
Amid soulful classical renditions and foot-tapping numbers rending the air as the Raisina Hill dazzled in a kaleidoscope of colours, the Beating Retreat ceremony was held here yesterday, which marked the culmination of Republic Day celebrations. Held at the majestic Vijay Chowk, the event included a tribute piece for late Marshal of Indian Air Force Arjan Singh. The function began with President Ram Nath Kovind arriving at the venue, his first appearance at the Beating Retreat ceremony as the Head of State, with his ceremonial motorcade. Incidentally, his predecessor, Pranab Mukherjee, had ridden the ceremonial buggy down the Raisina Hill last year for the event.
Roger Federer shows yet again men’s tennis will always remain pre-and post-Federer
Make no mistake. Roger Federer may have said that he is not sure if he can equal Margaret Court’s record of 24 Grand Slam titles, but that is the healthy self-doubt all greats have, even at their peak. To be sure, he may or may not draw with Court—that is for time to tell. Before he gets there, he will have to draw with Steffi Graf (22) and Serena Williams (23). Williams, another great who is still active in the professional circuit, could of course smash Court’s record before Federer gets to have a go, in which case, the goal post would have shifted. All said, in the hall of men’s tennis greats, Federer will perhaps always remain primus inter pares.
Why Budget 2018 is another step towards Digital India
Budget 2018: In the aftermath of disruptive monetisation, where digital currency became a widespread phenomenon, and the Prime Minister’s focus on Digital India in the last year, it is clear that India stands on the horizon of a digital revolution. Technology is poised to reshape the lives of citizens by providing a uniform, standardised and a ‘glocal’ format for administrative and governance processes, much on the lines of GST levied from last year. While the country rides on a spurt of growth trajectory, policy reforms will serve the purpose of a fuelling catalyst, wherein lies the role of Budget 2018.
New home launches in 9 cities drop 18% in Oct-Dec, reveals PropEquity report
New home launches in nine cities across the country dropped by nearly 18% on year during the fourth quarter (Oct-Dec) of Calendar 2017 to 13,666 units, according to a report by PropEquity. Lack of new launches was due to developers focussing on compliances with RERA and implementation of GST. According to the report, which covered Gurgaon, Noida, Mumbai, Kolkata, Pune, Hyderabad, Bengaluru, Thane and Chennai, capital values including resale was marginally down. Weighted average prices in the quarter remained at Rs 6,634 per square feet from Rs 6,683 per square feet a year ago.