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by Peerzada Arshad Hamid
 
NEW DELHI Alexander Radulov Jersey , July 1 (Xinhua) -- India early Saturday rolled out its biggest ever tax reform in its 70-year history after achieving independence from British rule in 1947.
 
The new tax regime known as Goods and Services Tax (GST) replaces more than a dozen state and federal levies to unify an economy of 2 trillion U.S dollars and 1.3 billion people into a single market.
 
"GST would lead to a modern tax administration which is simpler, more transparent, and helps curb corruption," Indian Prime Minister Narendra Modi in his address ahead of launching GST said.
 
GST is a comprehensive indirect tax on manufacture Ben Bishop Jersey , sale and consumption of goods and services across India, replacing existing indirect taxes levied by the federal and state governments. It is a destination-based, value added taxation system proposed as dual levy.
 
Prior to implementation of GST there was no uniformity on tax across India as duties and fees were levied at different rates across India's different states.
 
"The new law will bring a uniformity of taxes - one country, one tax - and it is expected to make things easier for doing business among different states Stephen Johns Jersey ," said Imtiaz Ahmad, a tax consultant. "States will now be bound to levy tax as per federal directive, for the new law has ended the state's fiscal autonomy."
 
With the implementation of new tax regime all goods and services will be placed in four basic rates - 5 percent (for essential items), 12 percent and 18 percent (for Standard goods and services) and 28 percent (for luxury and sin tax items). Most agricultural and food products will attract zero percent tax.
 
Each product will now attract a single tax rate across India.
 
Experts say the GST will improve India's gross domestic product growth.
 
Modi Brett Ritchie Jersey , during his recent visit to the United States, wrote in the Wall Street Journal that a "unified, continent-sized" Indian market would make it much easier for foreign businesses to invest.
 
GST was first proposed in 2003, but the idea could not take off in wake of stiff opposition from opposition parties. Bharatiya Janata Party (BJP) and Modi before coming to power were sharply opposing the GST.
 
Although the tax reform will have a long term benefit Esa Lindell Jersey , however, the rollout at present seems to be in disarray.
 
With opposition from political parties outside government, the business community says it was not given enough time to prepare for the new change and comply with the new system.
 
"So far none from sales tax office has come to us to make us aware about this GST ," Rakesh Shukla Tyler Pitlick Jersey , a stationary shop owner at New Delhi's Gautam Nagar said. "What I understand is this new law will increase the paperwork, which is highly irritable for all the businessmen."
 
Even there are unfounded assertions that the prices of goods would increase.
 
"For filing the returns and to get acquainted with new system, I have to hire services of an accountant and save every paper slip," said Shukla. "Last year it was the ghost of demonetization and this year it's GST. I fail to understand why this government doesn't plan things properly."
 
But the new law has not been implemented in Indian-controlled Kashmir. where the local government is struggling hard to get opposition parties and other stakeholders on board.
 
Traders in Muslim majority areas of the region on Saturday observed a daylong strike to oppose GST.
 
Police have detained a trade leader along with his dozen supporters in Srinagar for leading a protest demonstration against GST in Indian-controlled Kashmir. The traders feel implementation of GST will erode the financial and political autonomy of the restive region.
 
Meanwhile Devin Shore Jersey , India's former finance minister P Chidambaram Saturday said GST would put a burden on the common men and hugely affect small, medium and micro businesses and entrepreneurs, besides being inflationary with multiple rates.
 
"There will be inflation. What is the government going to do about it?" Chidambaram said. "Small, medium and micro scale entrepreneurs and traders will be affected in a big way because they are not ready for the roll out of the new law."
 
Xi pledges firm commitment to "one country Mattias Janmark Jersey , two systems"
 
President Xi attends gala show for HK's 20th return anniversary
 
NYSE special closing bell celebrates 20th Anniversary of HKSAR' s establishment
 
First train ferrying China-made Volvo cars arrives in Belgium
 
Fishing boats parade held to celebrate 20th anniv. of HK's return to motherland
 
China, Kyrgyzstan hold anti-terror drill in Xinjiang
 
In pics: woodblock movable type printing in C China
 
Muslims celebrate Eid al-Fitr worldwide
 
 
 
OSLO, Dec. 16 (Xinhua) -- A Norwegian court has convicted a taxi driver of illegal driving as Uber driver, newspaper Aftenposten reported on Friday.
 
The unidentified 43-year-old man thus lost his driving licence for three months and his job as a taxi driver.
 
He was charged after police found in a crackdown on the car-sharing service that he had completed 1,100 Uber tasks in 10 weeks.
 
The driver finally chose to confess his illegal driving in court, and paid the fine of 8,000 kroner (922 U.S. dollars) as well as accepted the confiscation of the 34,350 kroner (3,957 U.S. dollars), which he earned as a Uber driver.
 
"Yes, I am guilty according to the law, but I still feel wrongly convicted. That is why I think that the punishment is unreasonable," the driver said after the ruling.
 
The big problem for the convicted driver is the revoked driving license, as he worked as a taxi driver while the Uber assignments were only for extra income.
 
The police wanted to take away driving licence from him for six months, but the court reduced the period to three months.
 
"However, it doesn't matter whether it is six or three months. The point is that I have lo. Cheap Celtics Jerseys   Cheap Cavaliers Jerseys   Cheap Bulls Jerseys   Cheap Bucks Jerseys   Cheap Warriors Jerseys   Cheap Phoenix Suns Jerseys   Wholesale Spurs Jerseys   Wholesale Kings Jerseys   Wholesale Raptors Jerseys   Wholesale Pelicans Jerseys 

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