Business
Traders up in arms against 12% GST on textiles, footwear
The Confederation of All India Traders (CAIT) said that instead of simplifying and rationalising the GST tax structure, the GST Council has made it as “most complicated GST law in India over the world” and much against the GST structure shown to CAIT by the then Finance Minister Arun Jaitley.
CAIT National President B.C. Bhartia and Secretary General Praveen Khandelwal said that in the cotton textile industry there was no inverted tax structure, then why fabric and other cotton textile goods were brought under the 12 per cent bracket.
Even in the man-made textile industry, at the stage of manufacturing garments, sarees and all types of made ups, there was no inverted tax issue. Without having any understanding of the stages of the textile industry such a harsh decision will be a regressive step.
The Central Government’s notification to increase the rate of GST on basic items like textiles and footwear from 5 per cent to 12 per cent is being opposed all over the country, including Delhi, and the CAIT has decided to launch a mega agitation across the country against such arbitrariness.
The agitation will be led by two important trade associations of cloth trade, namely Delhi Hindustani Mercantile Association and Federation of Surat Textile Association (FOSTA) under the umbrella of CAIT. Apart from textiles and footwear, trade organisations of all types of trade, workers, employees associated with them will also participate in it.
Bhartia and Khandelwal said, “Roti, Kapda & Makaan are three basic things of life. Bread has already become very expensive due to high rise in prices, buying a house is beyond the reach of a common man and the cloth, which was accessible, has also been made expensive by the GST Council.
“After all, what kind of treatment is being done to the common man of the country. In this matter not only the Central Government but also the State Governments are completely guilty because these decisions have been taken unanimously in the GST Council and no one has opposed such an irrational decision,” CAIT said.
They have demanded that the increased rate of GST on clothes and footwear should be withdrawn immediately. They said that retail trade in the country has already been destroyed due to Covid and now that the business was resuming on track from this year, the increase in the GST rates will be the last nail in the coffin of the trade, CAIT said.
Bhartia and Khandelwal said that according to sources, it has been learnt that the Fitment Committee of GST has recommended an increase in the GST rate on gold jewelry from 3 per cent to 5 per cent and the current tax rate in GST 5 per cent has been recommended to 7 per cent, 12 per cent to 14 per cent and 18 per cent to 20 per cent. They said that this proposed increase in tax rate is highly irrational and unjustified and is clearly arbitrary action by the fitment committee.
In the matter of increase in clothes and footwear, no consultation was done with any stakeholder of the country. GST is being distorted continuously and the concept of “One Nation-One Tax” has been made a joke.
They said that traders across the country have mobilised against this unilateral and arbitrary increase against which the traders across the country are in great anger and resentment.
To decide about the future strategy of the agitation, the CAIT has convened a video conference on November 28 with the leaders of textile and footwear trade across the country, which will also be joined by prominent trade leaders of all States.
Bhartia and Khandelwal said that it is very unfortunate that the GST which was talked and explained to CAIT by the then Finance Minister Arun Jaitley, who by soliciting the support of trading community on June 4, 2017 was a simple tax structure having minimal compliance, but has been blown up and replaced by a very complex GST tax system. Prime Minister Narendra Modi’s announcement of Ease of Doing Business and One Nation-One Tax is being openly ridiculed, CAIT said.
CAIT said the officers have become autocratic and either the command of the responsible leaders has become lose or they are also involved in torturing the traders. Traders across the country will no longer tolerate this situation.
Business
‘What Is The Hack?’: X User Raises Questions Over Uber’s Differential Pricing On iPhones & Android
Cab-aggregator services have become an integral part of commute in many urban centres in India. Uber is one of the biggest names in the business, not just in India but globally.
In a story that surrounds the functioning of the application, one user took to X, to notify a peculiar observation.
While many have anecdotally mentioned a pattern of distinction in the pricing of the services, depending the device in use, this apparent differential phenomenon was highlighted by an X user who noticed the same.
Different Phones, Different Prices
The user who goes by the name SUDHIR, with the handle @seriousfunnyguy took to X with a photograph of two phones. The phones in the photograph had the Uber open. In the app, the user was in the process of booking a ride.
As one book a ride, the app shows different modes and options along with their respective pricing. In this, on one phone, which is an Android phone, the price is lower than the price for the same distance, on an iPhone. The rides were also booked at the same time.
The indignant user added, “Same pickup point, destination & time but 2 different phones get 2 different rates. It happens with me as I always get higher rates on my Uber as compared to my daughter’s phone. So most of the time, I request her to book my Uber. Does this happen with you also? What is the hack?”
Different Pricing Across Modes
In this, the pricing on the Android phone is shown to be lower than the prices on the Apple iPhones for all options, including Uber Auto, Uber Go, Go Sedan and Uber XL.
In the first option, there is a gap of over Rs 42. With Uber Go, there is a difference that is even greater at over Rs 120. For the Uber Go Sedan, the difference is over Rs 65. In addition, the price for Uber XL is close to Rs 100.
Business
‘Its Prime Real Estate’: Anand Mahindra Expresses Awe At Grandiose Of Brabus Big Boy 1200
In the City of Dreams that is Mumbai, one of the biggest ‘dreams’ of most who live in the metropolis is to find an abode, that they can call it their own. Real estate in Mumbai is known for its sky-high pricing, with figures of Rs 10-15 crore not surprising anyone.
The Motorhome
Space is a major issue in city, given the paucity of it, in a region that encompasses millions. However, what happens when the space is not only available but also mobile? That is precisely what a ‘motorhome’.
It may not been the most commonly seen or discussed avenue in this part of the world, but in other parts of the world, particularly in the US, an RV or recreational vehicle is the way of life, either by choice or by circumstance.
Mahindra Group chairman, Anand Mahindra recently reacted to one such motorhome. In a post on X, he shared a minute-long clipping of the Brabus Big Boy 1200. This is an uber-luxe, profligate motorhome manufactured by the German automobile company Brabus.
Mahindra, while reacting to the video of a person showing around the bus said, That’s not transport. It’s prime real estate.”
And one may arguably agree with Mahindra on this. The vehicle is extravagant and has a length of 12 meters or 39.4 ft and over 30 square meters or 320 sq ft. For context, the average size of homes in city of Mumbai hovers around 400-700 sq ft.
What Are The Features Of This Motorhome?
In addition, the vehicle also has two electrically extendable slide-outs on each side. These slide-outs can extend the bedroom and saloon to a width of 4.50 meters.
In addition, the motorhome also consists of a double bed measuring 160 x 200 centimeters.
A closet is integrated into the rear wall of the vehicle.
For amusement, the vehicle also has a desk and a 43-inch 4K television. Here one could watch TV programs that have been made available on the system play games on the integrated Playstation 5 system.
In addition, one can also connect to the internet through the Starlink system.
When it comes to the vehicle, it runs on a12.8-liter six-cylinder turbodiesel engine. This engine can deliver 390 kW / 530 hp and can generate a maximum torque of 2,600 Nm.
The vehicle is priced at around USD 1.5 million or a whopping Rs 12 crore.
Business
Maha will play key role in achieving India’s $5 trillion economy goal: Minister Tatkare
Nagpur, Dec 21: Representing Maharashtra in the pre-Union Budget meeting held in Jaisalmer, Minister Aditi Tatkare on Saturday assured that Maharashtra would play a pivotal role in India’s journey towards becoming a $5 trillion economy.
She emphasised the need for special financial assistance to the state in the upcoming Union Budget.
Minister Tatkare presented Maharashtra’s vision, highlighting its strategic role in realising the Prime Minister’s goal of a ‘Viksit Bharat’ by 2047.
Minister Tatkare outlined several critical issues and proposals for inclusion in the Union Budget. She urged the finance minister for central assistance for state Capital Investment by enhancing the allocation under the Scheme for Special Assistance to States for Capital Investment.
She emphasised the need for streamlining fund disbursement timelines to provide qualifying states with a minimum one-year utilisation window.
In the wake of rapid urbanisation, Minister Tatkare called for central support to tackle the challenges faced by the state.
“Maharashtra, with urbanisation expected to surpass 50 per cent in the upcoming census, faces challenges in resource mobilisation for urban local bodies (ULBs). The state government urges support for ULBs to access long-term loans for planned urban development and infrastructure enhancement,” she said.
Under the MukhyaMantri Saur Krushi Vahini Yojana 2.0, aimed at solarising agricultural feeders, Minister Tatkare sought increased targets and funding allocations for Maharashtra.
She requested expansion of Battery Energy Storage System (BESS) capacity from 500 MWh to 9,000 MWh to meet the state’s energy storage goals.
In order to further boost the modernisation of the home department, Minister Tatkare sought funds on a 60:40 basis, for projects such as digital forensic labs, mobile forensic vans, AMBIS systems, and the Cyber Security Project (Rs 837.86 crore).
She highlighted the need for funding major initiatives like Dial 112 emergency services integration and Maharashtra Police Station CCTV projects.
She urged financial support for faster case disposal through enhanced infrastructure for the judiciary.
She requested funding for constructing the Bombay High Court Complex in Bandra (East), estimated at Rs 3,750 crore.
Further, to push the implementation of the Mumbai Metropolitan Region (MMR) economic master plan, Minister Tatkare proposed a special package.
The master plan is aligning with NITI Aayog’s vision to transform MMR into a national growth hub by 2030.
According to NITI Aayog, the MMR has a potential to increase its GDP to $300 billion by 2030 from the present level of $140 billion.
The Centre’s public policy think tank has asked the Maharashtra government to concentrate on seven growth drivers and attract investment of $125-135 billion from the private sector to achieve the target.
In a bid to push the state government’s ambitious plan to make Maharashtra drought-free, the state government has sought central government support to include state-funded river-linking projects like Wainganga-Nalganga and Damanganga-Godavari under the National Interlinking of Rivers Scheme.
Further, the state government appealed to the Centre to ease revenue expenditure pressures to create fiscal space for capital projects and establish a ‘Kisan Vishesh Sahayata Nidhi’ to compensate farmers affected by trade policy interventions.
The state government also appealed for the enhancement of funding for ongoing schemes like the Jal Jeevan Mission and financial assistance for disaster-affected areas.
Minister Tatkare said the comprehensive representation highlighted Maharashtra’s ambitions and challenges, ensuring the state’s priorities were well-articulated for the Union Budget deliberations.
She reiterated Maharashtra’s commitment to becoming a cornerstone of India’s economic growth and development trajectory.
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