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#No GST On Gifts Up To Rs 50,000 Given By Employers; Businesses Need To Display GSTIN On Signboards!

Under the GST regime, there was some confusion on the aspect of gifts and perks, given by an employer to an employee, which is part of Cost To Company (CTC), and maybe subjected to performance. Clearing doubts, Govt. has issued notification, which states that gifts up to Rs 50,000 / year given by an employer to an employee is exempted from GST. This means that companies can now pass on incentives, perks, and gifts to employees till Rs 50,000, without paying any tax. However, Govt. has laid out some guidelines…

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#Delhi Govt. Wants To Ban UberPool & OlaShare; Planning To Launch Their Own App Based Bus Hailing Service

You must have heard and read about the advantages of cab sharing in a metro – less pollution as less cars are on the road, less fuel consumption, and less expenses for the consumers. It is a win-win situation, and thanks to apps like Uber and Ola, cab sharing is indeed picking up momentum across India. But it seems Delhi Govt. has some other plans. As per reports coming in, it seems that AAP led Delhi Govt. will soon ban all cab sharing services across New Delhi, and the reason…

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#8 Indirect Taxes That Are Not Covered Under GST!

The four-day-old GST Nation might be struggling with the new taxes and rules, but here are a few things that you need to know. The Prime Minister may have announced the ‘One Nation One Tax’ propaganda, but there are still a number of indirect taxes which the GST doesn’t cover. There are several taxes which are going to be levied by the local bodies, and the GST is not going to cover them. Here are the 8 such taxes which are not covered under GST Taxes Which are not covered under GST…

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#7 Major GST Myths Busted; Here Is How Indian Companies Are Faring On Day #3 Of GST Regime

GST regime is now live across India, and as expected, there are loads of confusion and myths related to the new tax structure across India. Sensing the need and understanding the confusion ensuing all around, Revenue Secretary Hasmukh Adhia came out in the open and issued clarifications to clear all doubts. Here are the 7 Mythbusters issued by the Govt.: Myth #1: All invoices need to be generated by computer under GST Reality Check: No, invoices can be generated manually as well, as long as GST is mentioned in it Myth #2: The…

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#Google Is India’s Most ‘Attractive Employer’; 31% Indian Employees Not Loyal To Any Industry/Sector

57-year-old Randstad, which is world’s 2nd largest human resource firm having a presence in 39 countries, has declared Google has the most attractive employer in India. Their study, titled Randstad Employer Brand Research 2017, covered 75% of the global economy and questioned 1,65,000 respondents from 26 countries. This was their 7th year of this study. In India, 3500 employees were surveyed by Randstad. One of the most interesting results which came out from India was the issue of loyalty. One out of three employees in India has admitted that they…

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#GST Will Boost India’s GDP by Rs 6.5 Lakh Cr : US Central Bank Predicts, But around 70% of SMEs Still Not Prepared For GST

Federal Reserve System, which is US’s central banking system, has made a report according to which Goods and Services Tax (GST) regime will enhance India’s GDP by 4.2%, which is Rs 6.5 lakh crore. Note here, that Rs 6.5 lakh crore is more than what India borrows, per year, from International financial organisations. In other words, Fed’s report suggests that India will no longer be required to borrow money if GST is implemented pan-India. July 1st is the possible date of the rollout of GST, pan-India. This research is part of Federal…

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#China Is upset With Make in India Success–Threatens Trade War If India Protects Its Own Mobile Manufacturers

China’s state-sponsored media outlet: Global Times has issued a warning to India over its Make In India mission. In fact, the article published actually threatens India with ‘trade war’, if Indian Govt. continues its ‘protectionism’ policy towards local mobile manufacturers. This is second such anti-India article published on Global Times, on the issue of Make in India and India’s rising power in manufacturing. Last year in September, Global Times had ‘warned’ their own manufacturers against going to India for manufacturing phones and other appliances. Clearly, China is rattled by the popularity which India’s Make…

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#Indian IT Workers In Trouble As Australia Abolishes 457 Work Visa; Australian Startups Worry About Skill-Shortage

After the US, it is the turn of Australia to adopt protectionism for their citizens. In a move to encourage local hiring, and to stop foreign workers from coming into their country, Australia has abolished 457 work visa. This is a significant development, as 457 work visa was one of the most popular visas used by Australian companies to bring foreign workers, from all fields. But, IT sector was the biggest beneficiary of this visa, and out of 95,757 temporary workers right now in Australia, the majority of them are Indians,…

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#Automation Threat: Infosys ‘Released’ 9000 Employees in 2016; Lower End Jobs Vanish

In another yet confession by a IT biggie, it has been revealed that automation is sucking away jobs at a rapid pace, and job insecurity is looming ahead for thousands of workers. During Bengaluru chapter of Global Shapers, a body backed by the World Economic Forum, Infosys’s HR Head Krishnamurthy Shankar admitted that over 9000 employees were ‘released’ by them in 2016. He has cleared that these employees were not fired, but moved and transferred to other departments, as lower-end jobs are vanishing and there exists no more jobs for…

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#IRCTC Offers Rail Platforms For Installing 2000 ATMs; Platforms Would Be Now Used For Destination Weddings!

You would be surprised to know that Indian Railways earn less than 5% of their revenues via non-fare sources. In order to increase this share, and to introduce innovative approaches for generating revenue, IRCTC is all set to unleash few major plans in the coming days. Last year in October, we had reported that IRCTC will monetize 100 terabytes of passenger data. After Railway Minister asked Zonal heads of all 16 Railway Zones to come up with ideas pertaining to increase non-fare revenues to Rs 2000 crore within a year, there…

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