And
Click the below link to download the PDF file of current affairs 2017.
https://drive.google.com/file/d/1CjDQBCkrMlaY9wiB7YTvTQKEpIt_Dp8N/view?usp=drivesdk
Friday, December 29, 2017
CURRENT AFFAIRS 2017(JAN TO JULY)
And
Click the below link to download the PDF file of current affairs 2017.
https://drive.google.com/file/d/1CjDQBCkrMlaY9wiB7YTvTQKEpIt_Dp8N/view?usp=drivesdk
Wednesday, December 27, 2017
NATIONAL HIGHWAYS
And click to download the PDF
https://drive.google.com/file/d/1pmseB1ywLssfwe49Mla1lxU0RhnWNIkv/view?usp=drivesdk
For RAILWAY TRANSPORT
Tuesday, December 26, 2017
SAHITYA AKADEMI AWARD 1955 to 2017
Full details about sahitya academy award for Tamil literature from 1955 to 2017
Watch the video:
To download this material click the below link
https://drive.google.com/file/d/12JxnGrpeoc0vgzuEzypTvEIhLJXavISQ/view?usp=drivesdk.
Watch the video:
To download this material click the below link
https://drive.google.com/file/d/12JxnGrpeoc0vgzuEzypTvEIhLJXavISQ/view?usp=drivesdk.
Friday, December 22, 2017
From UPSC perspective, the following things are important:
All aspects related to implementation and working of GST (A question was asked in Mains 2017 on it)
Problems associated with GST
The introduction of the Goods and Services Tax (GST) raised much hope that it would herald the emergence of a ‘good and simple tax’ with ‘one nation, one market, one tax’There has been considerable concern with the new tax, both in its structure and operational details, including the ease of paying the tax and filing returns. Trade and industry have been grappling with the problem of payment, filing the returns and claiming input tax credit, and exporters have been facing liquidity crises
History of GST
GST is a standard policy recommendation for every country going in for the structural adjustment programme of the International Monetary Fund The GST has taken centre-stage in many countries and is considered important in view of the competitive reduction in corporation tax rates due to high mobility of capital of over 165 countries which have adopted GST in one form or another, only five have repealed it (Belize, Ghana, Grenada, Malta and Vietnam), but have reintroduced the tax later
Desirable features of GST
It is important not to have too low thresholds Reasonably high thresholds will reduce the compliance burden to a large number of small businesses without much impact on revenue In developing countries, a threshold closer to $100,000 would eliminate 75% of the taxpayers with a revenue loss of less than 4%
2. GST should have fewer rates
Multiple rates create classification problems, are harder to administer and would require the general rate of tax to be higher. It would also invite a lot of lobbying by special interest groups
3. It is important to prepare well before the plunge
Most countries take at least two years to prepare for the introduction of reform to ensure a smooth transition. This is particularly necessary for developing and testing the technology platform, educating the tax collectors and taxpayers and to avoid any anomalies in the structure of the tax
Indian version of GST
Given that the reform had to be evolved by taking into account the views of 29 States, two Union Territories with legislatures and the Union government, compromises are inevitableIt is impossible to expect the structure of the tax to be idealSome bad initial features may be an essential compromise to get the tax accepted in the first place. Having four tax rates and three rates of cesses should have been avoidedIt enormously complicates the technology platform to ensure input tax credit mechanism
Way Forward
Problems of transition to a major tax reform are unavoidable and most countries go through this all traders, in one way or the other, are being brought into the formal sector which would hurt some of them. It appears desirable to move immediately towards three slabs with the final goal of reducing the slabs to two
and to fix the threshold at ₹50 lakh.
Problems associated with GST
The introduction of the Goods and Services Tax (GST) raised much hope that it would herald the emergence of a ‘good and simple tax’ with ‘one nation, one market, one tax’There has been considerable concern with the new tax, both in its structure and operational details, including the ease of paying the tax and filing returns. Trade and industry have been grappling with the problem of payment, filing the returns and claiming input tax credit, and exporters have been facing liquidity crises
History of GST
GST is a standard policy recommendation for every country going in for the structural adjustment programme of the International Monetary Fund The GST has taken centre-stage in many countries and is considered important in view of the competitive reduction in corporation tax rates due to high mobility of capital of over 165 countries which have adopted GST in one form or another, only five have repealed it (Belize, Ghana, Grenada, Malta and Vietnam), but have reintroduced the tax later
Desirable features of GST
It is important not to have too low thresholds Reasonably high thresholds will reduce the compliance burden to a large number of small businesses without much impact on revenue In developing countries, a threshold closer to $100,000 would eliminate 75% of the taxpayers with a revenue loss of less than 4%
2. GST should have fewer rates
Multiple rates create classification problems, are harder to administer and would require the general rate of tax to be higher. It would also invite a lot of lobbying by special interest groups
3. It is important to prepare well before the plunge
Most countries take at least two years to prepare for the introduction of reform to ensure a smooth transition. This is particularly necessary for developing and testing the technology platform, educating the tax collectors and taxpayers and to avoid any anomalies in the structure of the tax
Indian version of GST
Given that the reform had to be evolved by taking into account the views of 29 States, two Union Territories with legislatures and the Union government, compromises are inevitableIt is impossible to expect the structure of the tax to be idealSome bad initial features may be an essential compromise to get the tax accepted in the first place. Having four tax rates and three rates of cesses should have been avoidedIt enormously complicates the technology platform to ensure input tax credit mechanism
Way Forward
Problems of transition to a major tax reform are unavoidable and most countries go through this all traders, in one way or the other, are being brought into the formal sector which would hurt some of them. It appears desirable to move immediately towards three slabs with the final goal of reducing the slabs to two
and to fix the threshold at ₹50 lakh.
Wednesday, December 13, 2017
PROFIT OF BITCOINS
Undeclared Bitcoins Profits?
Ready To Pay 200% Penalty!
Reports are emerging from reputed publications, regarding Govt. latest move to milk bitcoin profits from Indians, and no one will be spared it seems.
If we believe Business Standard, then a 30% capital gains tax can be mandated on all bitcoin profits, if they are held for less than 3 years, and 20% capital gains tax, if they are held for more than 36 months. A concept borrowed from stock trading.
A senior Govt. official close to the developments said,
“Bitcoin taxation is a grey area at the moment. We are yet to look into it in detail. A panel may examine each issue. There are no guidelines at the moment. A clarification may come,”
Besides, some heavy penalty has been devised for those, who fail to declare profits from bitcoins. A penalty of 50-200% is being devised for such instances, when a tax payee fails to declare bitcoin earnings in a financial year, besides levying an interest of 12% per year, for the same.
Govt. Committee Will Decide Fate Of Bitcoin Profits in India
The value of bitcoins has surged past $19,000 (currently $16,000), and this astronomical surge of over 1200% value within a year has clearly unsettled the Govt. and RBI.
Reports say that a special panel be would be established, which will decide how to tax bitcoin earnings, and more importantly, whether GST rules can be applied on bitcoin investments or not.
This is in directly contradiction to what RBI had recently said about bitcoins in India, while ‘warning’ Indians against its usage:
“it (RBI) has not given any licence or authorisation to any entity or company to operate such schemes or deal with Bitcoin or any VC.”
This was RBI’s 4th warning against bitcoin usage in the last few years, and it clearly shows that although RBI is not willing to allow bitcoins in India, they are not banning it as well. And now, they want to tax it as well.
But, to be fair to RBI, they have already admitted that blockchain is a technology which will immensely help banking system in coming years, and bitcoins are based on blockchain tech.
Pretty confusing situation for a person who is a bitcoin investor, and wants to be clean in the tax rules and regulations.
Supreme Court has already asked the Centre to respond to a plea regarding bitcoin regulation in India, and the matter is subjudice.
In April this year, there were rumors of taxation policies for bitcoin users in India, and now, with recent reports, it seems that Govt. wants to indirectly control bitcoins, but cannot come out in the open, and accept that bitcoins has the power to change everything.
Ready To Pay 200% Penalty!
Reports are emerging from reputed publications, regarding Govt. latest move to milk bitcoin profits from Indians, and no one will be spared it seems.
If we believe Business Standard, then a 30% capital gains tax can be mandated on all bitcoin profits, if they are held for less than 3 years, and 20% capital gains tax, if they are held for more than 36 months. A concept borrowed from stock trading.
A senior Govt. official close to the developments said,
“Bitcoin taxation is a grey area at the moment. We are yet to look into it in detail. A panel may examine each issue. There are no guidelines at the moment. A clarification may come,”
Besides, some heavy penalty has been devised for those, who fail to declare profits from bitcoins. A penalty of 50-200% is being devised for such instances, when a tax payee fails to declare bitcoin earnings in a financial year, besides levying an interest of 12% per year, for the same.
Govt. Committee Will Decide Fate Of Bitcoin Profits in India
The value of bitcoins has surged past $19,000 (currently $16,000), and this astronomical surge of over 1200% value within a year has clearly unsettled the Govt. and RBI.
Reports say that a special panel be would be established, which will decide how to tax bitcoin earnings, and more importantly, whether GST rules can be applied on bitcoin investments or not.
This is in directly contradiction to what RBI had recently said about bitcoins in India, while ‘warning’ Indians against its usage:
“it (RBI) has not given any licence or authorisation to any entity or company to operate such schemes or deal with Bitcoin or any VC.”
This was RBI’s 4th warning against bitcoin usage in the last few years, and it clearly shows that although RBI is not willing to allow bitcoins in India, they are not banning it as well. And now, they want to tax it as well.
But, to be fair to RBI, they have already admitted that blockchain is a technology which will immensely help banking system in coming years, and bitcoins are based on blockchain tech.
Pretty confusing situation for a person who is a bitcoin investor, and wants to be clean in the tax rules and regulations.
Supreme Court has already asked the Centre to respond to a plea regarding bitcoin regulation in India, and the matter is subjudice.
In April this year, there were rumors of taxation policies for bitcoin users in India, and now, with recent reports, it seems that Govt. wants to indirectly control bitcoins, but cannot come out in the open, and accept that bitcoins has the power to change everything.
Monday, December 11, 2017
Sunday, December 10, 2017
GENERAL APTITUDE FOR YOU
It's very very useful for all competitive Exams.
Related video's and TARGET 180+ in TNPSC EXAMS
Watch now.
And for RS AGARWAL GENERAL APTITUDE click the below link (direct download)
RS AGARWAL GENERAL APTITUDE
And for RS AGARWAL GENERAL APTITUDE click the below link (direct download)
RS AGARWAL GENERAL APTITUDE
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