Snehal khanna Blog

This is the team that will spearhead what will essentially be the Prime Minister's vision document for 2019 BUDGET NEWS      :    As the Narendra Modi government presents its fifth and final Union Budget before the 2019 polls, this is the team that will spearhead what will essentially be the Prime Minister’s vision document for 2019 and beyond along with Finance Minister Arun Jaitley . Adhia was designated finance secretary when Ashok Lavasa retired in October. The senior most official in handling GST, he still has a lot on his platter as he looks to ensure revenue buoyancy, while removing the complications arising from the new levy’s less-than-perfect roll-out. He is also one of the masterminds behind demonetisation. Adhia is a strong contender to be the next Cabinet secretary. A 1983 batch Rajasthan cadre officer, Garg took over as economic affairs secretary in June, after the retirement of Shaktikanta Das . Garg was World Bank ex...

Ambiguous rules, multi-rate sales tax have left firms confused on how to price their products LATEST NEWS  : Nationwide goods and services tax (GST) was meant to unify the $2-trillion economy and make it easier for companies to transact across state borders. Nearly a month on, many are finding that doing business is more complicated than ever. Ambiguous rules under the new, multi-rate sales tax that went into effect on July 1 have left firms confused on how to price their products. The tax's complex structure — four main rates ranging from 5 to 28 per cent — has hurt sales and risks denting economic growth and government revenues in the months ahead. Airlines, for example, are uncertain whether to tax premium economy seats as an economy or business class — at rates of 5 percent or 12 per cent, respectively. Auto repair shops face a similar quandary as GST rates vary for different jobs. "People are either overcharging or undercharging for their work,...