#Gold GST Rate

[efiletax]

GST on Gold: Effects of Gold GST Rate in India 2024

In 2024, the effects of the Goods and Services Tax (GST) rate on gold continue to resonate throughout India's economy, impacting various stakeholders from consumers to industry players. Let's delve into the implications of the gold GST rate and how it shapes the landscape of the precious metal market:

Consumer Sentiment: The GST rate directly influences the final price of gold for consumers. A lower GST rate makes gold more affordable, encouraging higher demand for jewelry, coins, and bullion among consumers. Conversely, a higher GST rate may deter purchases, particularly among price-sensitive buyers, impacting consumer sentiment and spending patterns.

Investment Dynamics: Gold is revered as a traditional investment asset and a hedge against economic uncertainties. The GST rate affects its attractiveness as an investment avenue. A lower GST rate enhances the appeal of gold investments, attracting investors seeking portfolio diversification and wealth preservation. Conversely, a higher GST rate may prompt investors to explore alternative investment options with potentially higher returns.

Industry Performance: The gold industry, encompassing miners, refiners, jewelers, and retailers, is intricately linked to the prevailing GST rate. A lower GST rate spurs demand for gold jewelry and ornaments, benefiting jewelers and retailers. However, fluctuating GST rates can disrupt supply chains, inventory management, and pricing strategies within the industry, posing challenges for stakeholders.

Tax Revenue Implications: The GST rate on gold significantly contributes to government tax revenues. While a lower GST rate stimulates demand and economic activity in the gold sector, it may lead to a reduction in tax collections. Conversely, a higher GST rate boosts government revenues but could dampen consumer spending and industry growth, necessitating a delicate balance between revenue generation and economic stimulus.

Regulatory Measures: Policymakers continuously monitor and adjust the gold GST rate to achieve broader economic objectives, address inflationary pressures, and ensure fiscal sustainability. Changes in the GST rate are often accompanied by regulatory measures aimed at curbing illicit activities such as smuggling and tax evasion, thereby safeguarding government revenue and market integrity.

Global Competitiveness: The GST rate on gold in India is juxtaposed with rates in other countries, influencing international competitiveness and trade dynamics. Disparities in GST rates between nations can incentivize cross-border trade, impacting domestic markets and necessitating policy responses to maintain a level playing field for industry participants.

In summary, the GST rate on gold in India is a critical determinant of consumer behavior, investment trends, industry dynamics, and government revenues. As policymakers navigate economic challenges and strive to foster growth, they must calibrate the gold GST rate judiciously, balancing the interests of stakeholders while ensuring fiscal prudence and regulatory effectiveness, you need the advice of experts such as efiletax Indeed. 

[finschool]

Indirect Tax

Recent changes in Indirect Tax

Indirect taxes are taxes that are assessed by Government on goods and services, rather than on individualities or businesses directly. These taxes are collected by businesses from consumer when they buy goods or services, and also remitted to the government. Indirect taxes are often referred to as consumption taxes because they are based on consumption of goods and services rather than income or wealth. Indirect taxes can take many forms, including sales taxes, value-added taxes (VAT), excise taxes, and tariffs.

During the Union Budget of 2023 “Amrit Kaal”, It was the very first time when the indirect tax proposals were presented before the direct tax proposals. In the Proposal of indirect tax Presented in the Union Budget of 2023 there were 4 major changes which caught the attention of the citizens.

Following are the 4 major changes:

Customs Perspective:  In the Union Budget, to promote the ‘Make in India’ campaign and give to a boost to domestic manufacturing and enhance exports, the government and our FM has proposed few changes in the rate of import duties. The import duties on electric chimneys and cigarettes will now be more expensive, while on the other hand import of gold, silver, platinum, coin, etc., will be cheaper. Also, some exemption has been proposed towards goods or machinery used for manufacturing of lithium-ion battery.

GST Returns To Be Filed Within Three Years:  GSTR 1, GSTR 3B and GSTR 9and GSTR 9C would now be restricted for filing, post expiry of three years from the due date of filing of the relevant GST return. Until now, there was no threshold on time for filing GST return and any taxpayer could file belated returns along with interest and late fees. However, going forward, in future these dates have been locked so as to have clarity on the timelines for litigation.

Widening of Scope of OIDAR:  The Online Information and Database Access and Retrieval (OIDAR) services were brought under the tax bracket in the service tax regime and subsequently, in the GST regime. However, due to some exceptions in OIDAR and non-taxable online recipient, multiple services were escaping tax. In order to remove those exceptions, the Budget proposes to amend both the definitions and make OIDAR a wider segment for taxability purpose.

Taxability of High Sea Sales and Out-And-Out Sales: Out-and-out sales and high-sea sales were inserted in schedule III of the CGST Act, 2017 with effect from Feb. 1, 2019. However, the GST authorities were demanding GST from July 1, 2017 to Jan. 31, 2019. So to clarify this ambiguity and confusion, the budget has stated that such insertion will be with retrospective effect from July 1, 2017. This is a relief for taxpayers who are undergoing a litigation on these aspects. However, if the taxpayer has already paid the taxes for such period on the specified sales, the Budget has clearly specified that no refund of such tax can be claimed.

Although there are other changes as well but from Tax perspective the above 4 are major changes.

[susannatipsandtricks]

2025 Gold Price at Dubai: Smart Shopping Tips for Ladies | Hypeladies

Gold Price at Dubai: Expert Smart Shopping Tips for Ladies to Buy in 2025

Dubai, often called the "City of Gold," has long held its position as one of the world's premier destinations for gold trading and purchases. With approximately 20% of the world's gold passing through this glittering emirate, understanding the gold price at Dubai is crucial for both investors and jewelry enthusiasts. In this comprehensive guide, we'll explore everything you need to know about navigating Dubai's golden landscape.

Understanding Gold Prices in Dubai

The fascinating world of Dubai's gold market operates on a delicate balance of global and local factors. While the international gold market sets the baseline for Dubai gold prices, several unique aspects make the emirate's pricing structure particularly attractive to buyers worldwide. How Dubai Gold Prices Are Determined ? The gold price at Dubai is primarily influenced by the international gold market, which is quoted in US dollars per ounce. However, local prices are typically displayed in Arab Emirates Dirham (AED) per gram, making it essential to understand both metrics. Here's a breakdown of the pricing structure: Base Price Components: - International market rate (spot price) - Currency exchange rates - Local market premiums - Making charges (for jewelry) What makes Dubai's gold market unique is its tax-free status and competitive pricing structure. While most global markets add significant taxes and premiums to gold purchases, Dubai maintains minimal markups, typically ranging from 0.5% to 1% above the international rate for pure gold bars. Daily Price Fluctuations in Dubai's Gold Market Gold prices in Dubai are updated multiple times throughout the trading day, reflecting real-time changes in the global market. Local dealers receive price updates through the Dubai Gold & Jewellery Group (DGJG), which helps maintain consistency across the market. In 2024, we've seen price fluctuations ranging from: - Morning trading: First update around 8:30 AM GST - Mid-day adjustments: Updates around 1:30 PM GST - Evening revisions: Final updates around 5:00 PM GST Key Market Influences: - Global economic indicators - Political events - Currency fluctuations - Local demand cycles - Tourism patterns Market Dynamics and Price Factors Several unique factors affect the gold price at Dubai: - Tourism Impact: - Peak season (November to March): Prices may include higher premiums - Off-peak season: More room for negotiation - Festival periods: Increased demand can drive up making charges - Local Market Conditions: - Wedding season demand - Religious festivals (particularly Diwali and Eid) - Regional economic stability - Local consumer confidence - Global Factors: - International gold prices - US dollar strength - Global economic conditions - Geopolitical events Recent market analysis shows that Dubai's gold prices have maintained a competitive edge over other major gold markets. For instance, in early 2025, the average markup over international prices was just 0.75%, compared to 2-3% in many Western markets.

Dubai Gold Price Calculator: Making Sense of Rates and Values

2025 Gold Price at Dubai Understanding how to calculate gold prices in Dubai is essential for making informed purchases. Whether you're interested in pure gold bars or intricate jewelry, knowing the pricing structure helps you get the best value for your investment. Understanding Gold Karats and Purity In Dubai's gold market, you'll encounter different purity levels, each affecting the final price: 24K Gold (999.9 purity) - Purest form of gold available - Used primarily in bars and coins - Price per gram serves as the base rate - No additional metals mixed in 22K Gold (916.7 purity) - Most popular for jewelry in Dubai - Approximately 91.67% pure gold - More durable than 24K - Price calculation: (24K price × 0.916) 18K Gold (750 purity) - Common in contemporary jewelry - 75% pure gold - More affordable option - Price calculation: (24K price × 0.750) Making Charges and Additional Costs Making charges significantly impact the final price of gold jewelry in Dubai. These charges vary based on: - Design Complexity: - Simple designs: 3-8% of gold value - Medium complexity: 8-15% of gold value - Intricate designs: 15-25% of gold value - Custom pieces: Can exceed 25% - Retailer Location: - Gold Souk: Generally lower making charges - Mall outlets: Higher making charges - Boutique stores: Premium charges Sample Price Calculation Formula To calculate the final price of gold jewelry in Dubai, use this formula: Final Price = (Gold weight in grams × Current gold rate × Purity percentage) + Making charges + VAT (if applicable) Example Calculation: For a 22K gold necklace weighing 20 grams with 10% making charges: - Current 24K gold rate: 220 AED/gram - Purity percentage: 0.916 (22K) - Weight: 20 grams - Making charges: 10% Base gold cost = 20 × 220 × 0.916 = 4,030.40 AED Making charges = 4,030.40 × 0.10 = 403.04 AED Final price = 4,030.40 + 403.04 = 4,433.44 AED Price Differences Between Products Understanding price variations across different gold products helps in making informed decisions: Gold Bars: - Lowest making charges (0.5-1%) - Best value for investment - Usually sold in 24K only - Available in various weights (1g to 1kg) Gold Coins: - Slightly higher premium than bars - Collectible value consideration - Popular weights: 1g, 5g, 10g, 1oz Jewelry: - Highest making charges - Design value addition - Labor costs included - Variety of purity options

Best Time to Buy Gold in Dubai: Seasonal Guide and Market Trends

2025 Gold Price at Dubai Understanding the optimal timing for gold purchases in Dubai can lead to significant savings. Let's explore the various factors that influence pricing throughout the year and the best strategies for timing your purchase. Seasonal Price Variations Dubai's gold market experiences distinct seasonal patterns that affect prices: Peak Tourist Season (November to March) - Higher foot traffic in gold markets - Increased retail premiums - Less room for negotiation - Better selection of designs Off-Peak Season (June to September) - Lower tourist numbers - More competitive pricing - Better bargaining opportunities - Potential seasonal discounts (20-30% off making charges) Festival Impact on Gold Rates Key festivals significantly influence gold prices in Dubai: Dubai Shopping Festival (January-February) - Special promotions and discounts - Raffle draws and prizes - Reduced making charges - Limited-time offers Religious and Cultural Festivals - Diwali (October/November) - High demand period - Premium prices - Extensive new collections - Special festival designs - Eid Celebrations - Increased local buying - New collection launches - Gift-buying season - Premium pricing during Eid al-Fitr Best Days and Times to Buy Strategic timing can help secure better deals: Weekly Timing: - Monday mornings: Often see lower prices after weekend adjustments - Mid-week (Tuesday-Thursday): Stable prices - Friday: Limited trading hours - Saturday: Higher tourist traffic Daily Timing: - Early morning (8:30-10:00 AM): Fresh price updates - Mid-afternoon (2:00-4:00 PM): Usually stable prices - Evening (after 6:00 PM): Possible end-of-day adjustments Market Monitoring Tips To track gold prices effectively in Dubai: - Digital Tools: - Dubai Gold & Jewellery Group website - Gold price tracking apps - Local banking apps with gold rate features - International gold market websites - Price Alerts: - Set up notifications for price drops - Monitor weekly trends - Track currency exchange rates - Follow market news - Historical Data Analysis (2024-2025 Trends): Quarter | Average Price (AED/gram) | Market Trend Q1 2024 | 215 | Upward Q2 2024 | 220 | Stable Q3 2024 | 228 | Upward Q4 2024 | 235 | Volatile Q1 2025 | 240 | Stable Expert Buying Strategy For optimal pricing, consider this recommended approach: - Research Phase: - Monitor prices for 2-3 weeks - Compare rates across retailers - Understand current market trends - Check historical price patterns - Timing Considerations: - Avoid major festivals - Shop during off-peak tourist seasons - Consider early weekday purchases - Watch for promotional periods - Price Negotiation: - Best during quiet periods - More effective in traditional souks - Focus on making charges - Bundle purchases for better deals

Where to Buy Gold in Dubai: A Comprehensive Guide to the Best Locations

Dubai offers several renowned locations for gold shopping, each with its unique advantages and characteristics. Let's explore the most prominent gold shopping destinations in detail. Dubai Gold Souk: The Traditional Heart of Gold Trading The Dubai Gold Souk, located in Deira, stands as the city's most historic and authentic gold shopping destination. This traditional market hosts over 380 retailers, making it one of the largest gold markets globally. Key Features of Dubai Gold Souk: - Operating hours: 10:00 AM to 10:00 PM - Closed on Friday mornings - Over 10 tons of gold present at any time - Competitive prices due to high competition Notable Retailers: - Deira Gold Souk - Atlas Jewellery - Joy Alukkas - Malabar Gold & Diamonds - Kalyan Jewellers Shopping Tips: - Best for bulk purchases - Excellent bargaining opportunities - Wide variety of traditional designs - Lower making charges compared to malls Gold & Diamond Park: Modern Luxury Shopping Located on Sheikh Zayed Road, the Gold & Diamond Park offers a more contemporary shopping experience in an air-conditioned environment. Distinctive Features: - 90+ specialized retailers - Modern shopping environment - Custom design services - Manufacturing facilities on-site Benefits: - Fixed price transparency - Quality certification guaranteed - Professional service standards - Modern designs and collections Dubai Mall Gold Shops: Premium Retail Experience The Dubai Mall hosts numerous high-end jewelry retailers, offering a luxury shopping experience with international brands. Notable Features: - Location Benefits: - Central location - Premium shopping environment - International brands - Extended shopping hours - Popular Retailers: - Cartier - Tiffany & Co. - Local premium jewelers - Designer boutiques Price Comparison Across Locations: Location | Making Charges | Price Premium | Bargaining Scope Gold Souk | 4-12% | Lowest | High Gold & Diamond | 8-15% | Medium | Medium Dubai Mall | 12-25% | Highest | Low Speciality Areas and Unique Offerings Meena Bazaar: - Alternative to Gold Souk - Lower tourist traffic - Competitive prices - Specialized in Indian jewelry Satwa Gold Markets: - Local community favorite - Moderate prices - Good for small purchases - Personalized service Location-Specific Shopping Tips - Gold Souk Shopping: - Visit during weekday mornings - Compare prices across shops - Bargain confidently - Check gold purity certificates - Mall Shopping: - Best for branded jewelry - Fixed prices but seasonal sales - Premium making charges - Excellent after-sales service - Gold & Diamond Park: - Ideal for custom designs - Professional craftsmanship - Mid-range pricing - Good for engagement rings Expert Recommendations for Different Buyer Types: Buyer Type | Recommended Location | Reason Bulk Buyers | Gold Souk | Best wholesale prices Tourists | Dubai Mall | Convenient location Custom Design | Gold & Diamond Park | Specialized services Traditional | Meena Bazaar | Authentic designs Budget-conscious | Satwa Markets | Competitive pricing

Gold Investment Options in Dubai: A Strategic Guide

2025 Gold Price at Dubai Dubai's status as a global gold hub makes it an attractive destination for gold investment. Let's explore the various investment options available and how to maximize your returns. Gold Bars: The Pure Investment Choice Gold bars represent the most straightforward and cost-effective way to invest in physical gold in Dubai. Available Options: - Cast Bars: - Most economical choice - Available weights: 1g to 1kg - Lower premium over spot price - Best for long-term investment - Minted Bars: - Premium finish - Collector's value - Higher manufacturing cost - Popular sizes: 50g, 100g, 250g Price Comparison by Weight (February 2025): Weight | Cast Bar (AED) | Minted Bar (AED) | Premium 1g | 245 | 255 | 4% 10g | 2,425 | 2,475 | 2% 50g | 12,050 | 12,200 | 1.2% 100g | 24,000 | 24,200 | 0.8% 1kg | 238,000 | 239,500 | 0.6% Gold Coins: Combining Investment and Collectible Value Gold coins offer a unique combination of investment potential and numismatic value. Popular Options: - Emirates Gold Coins - Canadian Maple Leaf - American Eagle - South African Krugerrand Investment Considerations: - Advantages: - Easy to store and transport - Widely recognized - Historical value appreciation - Good liquidity - Disadvantages: - Higher premiums than bars - Storage concerns - Authentication requirements - Limited size options Storage Solutions in Dubai Secure storage is crucial for gold investments. Dubai offers several options: Bank Safe Deposit Boxes: - Annual fees: 500-2000 AED - Size variations available - Insurance included - 24/7 security Private Vault Facilities: - Enhanced security features - Flexible access hours - Higher insurance limits - More privacy Insurance Considerations Protecting your gold investment is crucial: - Insurance Types: - Basic coverage (included with storage) - Comprehensive coverage - Transportation insurance - Personal possession coverage - Coverage Costs: - 0.5-1% of gold value annually - Additional rider options - Deductible choices - Multi-year discounts Investment Strategy Tips Short-term Investment (1-2 years): - Focus on smaller denominations - Consider coins for quick sales - Monitor market actively - Maintain flexible storage options Long-term Investment (5+ years): - Larger bars for better value - Secure storage solutions - Regular market monitoring - Documentation maintenance Risk Management: - Authentication verification - Diversification across products - Regular market analysis - Professional storage solutions

Tips for Buying Gold in Dubai: Essential Guidelines and Precautions

When purchasing gold in Dubai, following proper guidelines ensures a secure and satisfactory transaction. Here's a comprehensive guide to help you make informed decisions. Authentication and Certification Verifying the authenticity of your gold purchase is crucial in Dubai's market. Read the full article

[goldsutra]

A Complete Guide to Buying Gold Jewellery Online Safely in 2025

Gold jewellery has long been a symbol of luxury, tradition, and investment. With the rise of e-commerce, purchasing gold jewellery online has become more convenient than ever. However, the fear of fraud, counterfeit products, and security risks can make many buyers hesitant. This guide will help you navigate the process of buying authentic gold jewellery online safely in 2025, ensuring you make a secure and informed purchase.

1. Verify Gold Purity and Hallmark Certification

One of the most critical aspects of buying gold jewellery online is ensuring its purity. Gold is measured in karats (K), with 24K being the purest form. However, most jewellery pieces are made from 22K, 18K, or 14K gold, depending on durability needs.

Look for BIS Hallmarking: In India, the Bureau of Indian Standards (BIS) hallmark certifies gold purity. Ensure that the jewellery you purchase has a BIS hallmark for authenticity.

Check Other Certifications: International certifications like the Assay Office Mark (UK) and the Jewellers of America certification (USA) are also indicators of quality.

Request a Purity Certificate: Reputable online jewellers provide a purity certificate, detailing gold composition and weight.

For a wide range of hallmarked gold jewellery, visit GoldSutra.

2. Choose a Reputable Online Jewellery Store

Buying from a well-established and trusted jeweller minimizes the risk of fraud. Here’s how to identify a reputable online jewellery retailer:

Check Business Credentials: Look for the company’s history, customer service reputation, and certifications.

Read Customer Reviews: Platforms like Google Reviews, Trustpilot, and social media can provide insights into other buyers' experiences.

Verify Return and Exchange Policies: A reputable seller will have a transparent return/exchange policy in case the product does not meet your expectations.

Ensure Secure Website & Payment Gateway: Always look for "https" in the website URL and check if secure payment options are available.

Explore a trusted selection of authentic gold jewellery at GoldSutra.

3. Understand Pricing and Hidden Charges

Gold prices fluctuate based on market trends, making it essential to compare prices before purchasing. Here’s what to consider:

Current Market Rate: Check the prevailing gold price before making a purchase.

Making Charges: This fee varies depending on the craftsmanship and design intricacy.

GST & Other Taxes: In India, a 3% GST is levied on gold jewellery purchases.

Shipping & Insurance Costs: Some stores may charge extra for secure shipping and insurance.

4. Secure Payment Methods & EMI Options

To ensure a safe transaction, use secure payment methods when buying gold jewellery online.

Trusted Payment Options: Opt for credit/debit cards, UPI, or net banking with fraud protection.

EMI & Financing Options: Some reputed jewellers offer easy EMI plans, making expensive purchases more affordable.

Cash on Delivery (COD) for Gold: Some retailers offer COD for added security, though it may be limited to specific locations.

5. Safe and Insured Shipping

When ordering gold jewellery online, ensure the seller provides insured and secure shipping.

Trusted Courier Services: Reliable brands use reputed logistics partners like Blue Dart, FedEx, or Malca-Amit.

Tamper-Proof Packaging: Ensure the jewellery comes in sealed and tamper-proof packaging.

Real-Time Tracking: A trustworthy retailer will offer shipment tracking for peace of mind.

Insurance Coverage: Always opt for insured delivery to protect your purchase from loss or theft.

6. Read Customer Reviews & Testimonials

Before finalizing your purchase, read customer testimonials and reviews. Real experiences help assess product quality and customer service reliability.

Check Verified Reviews: Reviews on the retailer’s website, social media, and independent platforms add credibility.

Look for High Ratings: Consistently high ratings indicate reliability and good service.

Engage in Community Forums: Online jewellery forums and social media groups can provide valuable recommendations.

7. Understand Return, Exchange, and Warranty Policies

A transparent return policy is essential when purchasing jewellery online.

Easy Return Window: Reputable sellers offer a return window (usually 7-30 days) with full refunds.

Exchange Offers: Some brands allow gold exchange for upgraded designs.

Warranty & Buyback Policies: Ensure your jewellery has a warranty against defects and a buyback option.

Conclusion

Buying gold jewellery online in 2025 is convenient and safe if you take the right precautions. From verifying hallmark certification and checking reviews to ensuring secure payments and insured delivery, following these steps will help you make a trustworthy purchase.

For a curated collection of certified gold jewellery, explore GoldSutra and shop with confidence.

By following these guidelines, you can enjoy the convenience of online gold jewellery shopping without compromising on quality or security. Happy shopping!

[harshublogtravel]

lakshadweep samudram package

The Lakshadweep Samudram Package is a five-day cruise that offers an immersive experience of the Lakshadweep archipelago, covering the islands of Kavaratti, Kalpeni, and Minicoy aboard the M.V. Kavaratti. This package is organized by the Society for Promotion of Nature Tourism and Sports (SPORTS), the official tourism department of Lakshadweep. Let us discuss about lakshadweep samudram package

samudram.utl.gov.in

Key Highlights of the Samudram Package:

Duration: 4 Nights and 5 Days

Islands Covered: Kavaratti, Kalpeni, and Minicoy

Accommodation: Nights are spent aboard the M.V. Kavaratti in air-conditioned cabins.

Activities: Daytime island tours include swimming, snorkeling, kayaking, and other water sports. Lunch and refreshments are provided on the islands.

Itinerary Overview:

Day 1: Departure from Kochi in the afternoon.

Day 2: Arrival at the first island (sequence varies). Activities include sightseeing, water sports, and cultural programs.

Day 3: Visit the second island with similar activities.

Day 4: Explore the third island.

Day 5: Return to Kochi by mid-morning.

Package Rates:

The package offers different classes of accommodation:

Diamond Class (First Class Cabin):

Adult: ₹37,500 (₹25,000 for transportation + ₹12,500 for tour charges) + 5% GST

Child (1 to 10 years): ₹33,000 (₹25,000 + ₹8,000) + 5% GST

Gold Class (Second Class Cabin):

Adult: ₹28,500 (₹18,000 + ₹10,500) + 5% GST

Child: ₹25,000 (₹18,000 + ₹7,000) + 5% GST

you can also watch samudram cruise for lakshadweep video in our channel.

[newspatrolling]

Which Items To Buy Before Union Budget 2025?

 A number of items are expected to become costlier after Union Budget 2025, but you can save money if you buy them soon

The Union Budget 2025 is one of the most awaited, as the economy seems to be facing some headwinds. There are also demands from individuals and businesses to reduce taxes. It appears that the government has to do a balancing act in this year's budget.

From the perspective of the common man, the main focus is on which items will become costlier and which will become cheaper. To help you save money, let us take a look at some items that can potentially become costlier after Union Budget 2025. So, if you place your order soon, you can save quite a bit of your hard-earned money.

Luxury goods - It is possible that GST rates could be increased for luxury items. The government needs significant funding for its infrastructure development projects and welfare programs. Increasing taxes on luxury goods can help the government to generate the required funds. Luxury goods include various items such as high-end watches, luxury cars, jewelry and precious stones, designer clothing and accessories, luxury handbags, exclusive perfumes, luxury yachts, private jets and premium electronics and gadgets.

Tobacco and cigarettes - Similar to the trend seen in previous years, prices of tobacco products and cigarettes are expected to increase after Union Budget 2025. While using tobacco is not advisable, there are millions of people who use it on a regular basis. It is also true that rising prices of tobacco have forced many people to quit using tobacco or reduce the overall consumption amount. It is up to adults to decide what their choices are going to be.

Alcohol - Just like cigarettes, alcohol products are likely to become costlier after Union Budget 2025. Consumption of alcohol has skyrocketed in India. The increase in alcohol consumption can be seen across various income groups. However, if we look at per capita figures, India ranked quite low at 98th spot in terms of alcohol consumption. But considering the rise in alcohol consumption, it is likely that India could have moved higher in per capita alcohol use in recent years.

Gold and silver - It is expected that the government will increase import duties on precious metals like gold and silver. However, jewelers and bullion sellers want the government to introduce measures that can encourage people to buy more gold. For example, there is demand to allow people to buy gold via the EMI route. Bullion traders are also demanding reduction in import duties on gold dore. This will allow them to increase their profit margin.

Mobile recharge plans - All private telecom service providers have already increased mobile recharge rates last year. As telecom service providers need to expand their 5G networks and spend on 6G infrastructure, it is possible that mobile recharge rates may see a further hike. It may not happen immediately after the Union Budget 2025, but there is a strong possibility of price hike later this year.

If you make your moves now, you can save on items that are expected to become costlier after Union Budget 2025. However, it is recommended that you do your own research also before spending your money.

source: newspatrolling.com

[24goldgrouplimited]

Understanding the Tax Implications of Selling Gold in Canada

When selling gold in Canada, it’s important to be aware of the tax implications that could affect your profits. Whether you’re selling gold jewelry, coins, or bullion, there are rules that govern the taxation of your sale. At 24 Gold Group Ltd., we want to ensure you understand the key considerations involved in the sale of gold and how it can impact your financial situation. In this article, we’ll break down the tax implications of selling gold in Toronto and offer insights into How To Invest In Gold In Canada.

Tax Implications of Selling Gold in Toronto

Gold is considered a commodity in Canada, and its sale can have tax consequences, depending on how it’s classified. There are a few factors to consider when selling gold in Toronto, such as the type of gold you’re selling and whether or not you’ve held it as an investment.

Capital Gains Tax on Investment Gold If you’ve held gold as an investment and sell it for a profit, the sale is typically subject to capital gains tax. This means that 50% of your profit will be taxed at your marginal tax rate. For example, if you purchased gold for $1,000 and sold it for $1,500, you would have a $500 gain, with $250 being taxable as part of your income. The good news is that gold bars, coins, and bullion are often classified as “precious metals” and are subject to specific tax treatments. The Canada Revenue Agency (CRA) may treat the sale of these assets differently from other types of personal property, so it’s crucial to track the amount of capital gains when selling gold.

GST/HST on Gold Sales In Canada, the sale of certain gold items like gold coins or bars may be exempt from the Goods and Services Tax (GST) or the Harmonized Sales Tax (HST), depending on the type of transaction and how the gold is classified. However, if the gold is not considered investment-grade or it doesn’t meet certain criteria set by the CRA, you could be required to pay GST/HST on the sale.

Selling Jewelry vs. Investment Gold The sale of gold jewelry is treated differently than the sale of investment gold. If you sell gold jewelry for a profit, the profit may be subject to tax as a form of income. However, if you’re simply selling the jewelry at a loss or for the same value as it was purchased, you may not need to pay taxes on the transaction.

How to Invest in Gold in Canada

If you're interested in getting into gold as an investment, there are several ways you can do so in Canada. Whether you're looking to diversify your portfolio or hedge against inflation, how to invest in gold in Canada can be done through a variety of options:

Physical Gold: Buying physical gold in the form of coins or bars is one of the most direct ways to invest.

Gold ETFs: Exchange-Traded Funds (ETFs) are a popular way to invest in gold without having to own the physical commodity.

Gold Stocks: Investing in companies involved in gold mining or exploration is another way to gain exposure to gold prices.

At 24 Gold Group Ltd., we help guide individuals on how to invest in gold in Canada by providing options for purchasing physical gold or exploring investment opportunities.

Contact Us

If you’re considering selling gold or want to know more about the Tax Implications Of Selling Gold in Toronto, don’t hesitate to reach out to us. We’re here to answer your questions and help you make informed decisions about your gold investments.

Read our blog for more information on the benefits of investing in gold and the potential tax consequences you should consider.

[news365timesindia]

[ad_1] Gold in India is considered much more than just a metal, it’s woven into the country's cultural fabric. Gold is a trusted investment, and often the go-to financial backup during times of need. Whether it’s a wedding, festival, or simply an investment for the future, gold holds immense value.   Bajaj Finserv Gold Loan   However, gold prices keep fluctuating daily and understanding the factors behind these price changes can help individuals make more informed decisions, whether they’re buying, selling, or looking to unlock the value of their gold. Let’s deep dive into the gold price today in Jaipur and how one can make the most of it, whether through buying, selling, or using gold as collateral for a loan.   Gold rate dynamics Gold price today in Jaipur, like in any city in India, often fluctuate, reflecting dynamic market conditions. These changes impact decisions related to buying, selling, or leveraging gold. For those considering a gold loan, such price movements can directly influence the loan amount, as it depends on the current value of gold. Bajaj Finserv Gold Loan provides an efficient way to unlock the value of gold, offering quick disbursal, minimal paperwork, and flexible repayment options. With loans ranging from Rs. 5,000 to Rs. 2 crore and free gold insurance, Bajaj Finance ensures a secure and transparent process to meet diverse financial needs.   Let’s explore the major reasons affecting gold rates in India: Global economic trends: Events like inflation, geopolitical tensions, and fluctuations in currency values have a direct impact on international gold rates. Since India imports most of its gold, these global shifts affect local markets in Jaipur as well. Import duties and taxes: Changes in government policies, such as import duties and GST rates, play a significant role in determining gold prices in the region. Seasonal demand: Jaipur’s rich cultural calendar, filled with weddings and festivals, creates an increased demand for gold, especially during peak seasons, which can drive prices up. Currency exchange rates: Since gold is priced globally in US dollars, fluctuations in the rupee-dollar exchange rate have a direct effect on gold prices locally. By understanding these factors, individuals can make better financial decisions and time their buying, selling or leveraging activities smartly.   Using gold as collateral for a loan Gold loans are becoming increasingly popular due to their simplicity and flexibility. Leveraging gold for a loan allows individuals to access immediate funds without the need to part with their precious jewellery. The process is simple, just pledge gold jewellery (18-22 karat), undergo evaluation, provide the required documents, and receive the loan amount upon approval.   Before applying for a gold loan, it’s essential to understand one’s repayment obligations. The gold loan EMI calculator is a helpful tool that estimates monthly repayments based on key factors such as loan amount, interest rate and repayment tenure.   Reasons to consider the Bajaj Finserv Gold Loan When it comes to leveraging gold for a loan, Bajaj Finance offers a suite of benefits: Quick disbursal: Once approved, funds are credited to the borrower’s account without delay. Minimal paperwork: The loan process is efficient with minimal documentation required. Loan range: Bajaj Finserv offers loans from Rs. 5,000 to Rs. 2 crore, catering to a wide range of financial requirements. Convenient repayment options: Borrowers can choose a repayment plan that aligns with their financial situation. Free gold insurance: Bajaj Finance provides free insurance for the gold pledged, offering additional peace of mind. No hidden charges: Borrowers are guaranteed complete transparency, ensuring they know exactly what they are paying for.   For those considering a gold loan,

Bajaj Finance offers an easy, quick, and secure way to unlock the value of their gold while benefiting from transparent processes and convenient repayment options. Explore gold loan options with Bajaj Finance today!   T&C apply   About Bajaj Finance Limited Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-five-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 80.41 million customers. Bajaj Finance has a credit rating of AAA/Stable for its Fixed Deposit program from CRISIL and ICRA, AAA/Stable for long-term borrowing from CRISIL, India Ratings, CARE and ICRA, and A1+ for short-term borrowing from CRISIL, India Ratings and ICRA. It has a long-term issuer credit rating of BBB-/Stable and a short-term rating of A-3 by S&P Global ratings. To know more, visit www.bajajfinserv.in. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window,document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '311356416665414'); fbq('track', 'PageView'); [ad_2] Source link

[news365times]

[ad_1] Gold in India is considered much more than just a metal, it’s woven into the country's cultural fabric. Gold is a trusted investment, and often the go-to financial backup during times of need. Whether it’s a wedding, festival, or simply an investment for the future, gold holds immense value.   Bajaj Finserv Gold Loan   However, gold prices keep fluctuating daily and understanding the factors behind these price changes can help individuals make more informed decisions, whether they’re buying, selling, or looking to unlock the value of their gold. Let’s deep dive into the gold price today in Jaipur and how one can make the most of it, whether through buying, selling, or using gold as collateral for a loan.   Gold rate dynamics Gold price today in Jaipur, like in any city in India, often fluctuate, reflecting dynamic market conditions. These changes impact decisions related to buying, selling, or leveraging gold. For those considering a gold loan, such price movements can directly influence the loan amount, as it depends on the current value of gold. Bajaj Finserv Gold Loan provides an efficient way to unlock the value of gold, offering quick disbursal, minimal paperwork, and flexible repayment options. With loans ranging from Rs. 5,000 to Rs. 2 crore and free gold insurance, Bajaj Finance ensures a secure and transparent process to meet diverse financial needs.   Let’s explore the major reasons affecting gold rates in India: Global economic trends: Events like inflation, geopolitical tensions, and fluctuations in currency values have a direct impact on international gold rates. Since India imports most of its gold, these global shifts affect local markets in Jaipur as well. Import duties and taxes: Changes in government policies, such as import duties and GST rates, play a significant role in determining gold prices in the region. Seasonal demand: Jaipur’s rich cultural calendar, filled with weddings and festivals, creates an increased demand for gold, especially during peak seasons, which can drive prices up. Currency exchange rates: Since gold is priced globally in US dollars, fluctuations in the rupee-dollar exchange rate have a direct effect on gold prices locally. By understanding these factors, individuals can make better financial decisions and time their buying, selling or leveraging activities smartly.   Using gold as collateral for a loan Gold loans are becoming increasingly popular due to their simplicity and flexibility. Leveraging gold for a loan allows individuals to access immediate funds without the need to part with their precious jewellery. The process is simple, just pledge gold jewellery (18-22 karat), undergo evaluation, provide the required documents, and receive the loan amount upon approval.   Before applying for a gold loan, it’s essential to understand one’s repayment obligations. The gold loan EMI calculator is a helpful tool that estimates monthly repayments based on key factors such as loan amount, interest rate and repayment tenure.   Reasons to consider the Bajaj Finserv Gold Loan When it comes to leveraging gold for a loan, Bajaj Finance offers a suite of benefits: Quick disbursal: Once approved, funds are credited to the borrower’s account without delay. Minimal paperwork: The loan process is efficient with minimal documentation required. Loan range: Bajaj Finserv offers loans from Rs. 5,000 to Rs. 2 crore, catering to a wide range of financial requirements. Convenient repayment options: Borrowers can choose a repayment plan that aligns with their financial situation. Free gold insurance: Bajaj Finance provides free insurance for the gold pledged, offering additional peace of mind. No hidden charges: Borrowers are guaranteed complete transparency, ensuring they know exactly what they are paying for.   For those considering a gold loan,

Bajaj Finance offers an easy, quick, and secure way to unlock the value of their gold while benefiting from transparent processes and convenient repayment options. Explore gold loan options with Bajaj Finance today!   T&C apply   About Bajaj Finance Limited Bajaj Finance Ltd. (‘BFL’, ‘Bajaj Finance’, or ‘the Company’), a subsidiary of Bajaj Finserv Ltd., is a deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-five-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 80.41 million customers. Bajaj Finance has a credit rating of AAA/Stable for its Fixed Deposit program from CRISIL and ICRA, AAA/Stable for long-term borrowing from CRISIL, India Ratings, CARE and ICRA, and A1+ for short-term borrowing from CRISIL, India Ratings and ICRA. It has a long-term issuer credit rating of BBB-/Stable and a short-term rating of A-3 by S&P Global ratings. To know more, visit www.bajajfinserv.in. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window,document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '311356416665414'); fbq('track', 'PageView'); [ad_2] Source link

[aakashmalhotra]

Exploring the 2024 Union Budget: International Tax Insights

What are the key details that taxpayers should be aware of regarding the 2024 tax changes?

Key Highlights

The Finance Minister of India presented the Union Budget 2024 on 23 July 2024. The Budget includes several positive proposals, such as tax incentives for small businesses, increased funding for infrastructure development, and measures to support sustainable energy initiatives. Thus, the purpose of these suggestions is to boost the economy, e-commerce growth in India and tackle several issues. 

The Income Tax Act is due for a review, and the government has suggested much-needed changes, which are long overdue.

The base corporate tax rate for nonresident corporate taxpayers has been reduced from 40% to 35%.

The removal of angel tax provisions and the introduction of Equalisation Levy 2.0 will have a significant impact and are considered game changers.

The rationalization of the TDS Regime is a positive step forward and is sure to benefit the country's overall growth.

The removal of indexation to compute cost while calculating gains will significantly impact the capital gains tax regime. With the removal of the buyback tax, the tax incidence will now shift to the recipient.

The government has restated its commitment to simplifying processes, rationalizing GST rates, and expanding GST coverage to all sectors.

Customs duties will be waived for key sectors like healthcare, solar, critical minerals for renewable energy, and high-tech electronics. Additionally, there will be a reduction in customs duties for mobile phones, gold, precious metals, and the leather and textile industries.

Introduction of a one-time tax settlement scheme called Vivad se Vishwas (VSV) to help quickly resolve ongoing tax disputes.

The government of India is currently engaged in modernizing its international tax policies and administration. This initiative encompasses the implementation of a variety of tax incentives and rate reductions, as well as the substantial digitalization of critical processes.

Tax Insights: Introduction

During the presentation of the Union Budget for 2024-2025, the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman underscored the budget's emphasis on several identified priorities aimed at expediting the journey toward the goal of Viksit Bharat.

The Finance Minister highlighted the government's ongoing efforts to simplify taxes, improve taxpayer services, and reduce legal disputes. Thus, the taxpayers have responded positively to these efforts.

In the fiscal year 2022-23, Smt. Sitharaman highlighted that 58 percent of corporate tax revenue was contributed by the simplified tax regime. Additionally, over two-thirds of taxpayers chose to adopt the new personal income tax regime based on the data available.

During the budget presentation, the Finance Minister also announced a number of attractive benefits designed to provide tax relief to salaried individuals and pensioners who choose the new tax regime. The Union Budget for the fiscal year 2024-2025 has incorporated a range of provisions and amendments, underscoring the government's dedication to establishing a streamlined and effective tax framework.

What is the major objective of the International tax sector?

International taxation serves various objectives, such as ensuring fair distribution of tax burdens, preventing the illegal avoidance of taxes, fostering economic growth, and facilitating international collaboration. However, the following are the primary purposes of the International tax sector.

Preventing Double Taxation

Encouraging International Trade and Investment

Preventing Tax Evasion and Avoidance

Equitable Distribution of Taxing Authority

The encouragement of International collaboration

Union Budget 2024 International tax updates

Following are the International tax sector updates:

Rationalisation of taxes and rates 

E-commerce operators from foreign countries, who supply or facilitate the e-commerce supply of goods or services into or relating to India, are currently burdened with India’s digital service tax, the equalisation levy, which is imposed at a significant 2 percent of the gross consideration. The impending discontinuation of this tax will bring a welcome relief and is scheduled to take effect from 1 August 2024.

From fiscal year 2024–2025, foreign companies will have a reduced corporate tax rate of 35 percent, down from 40 percent.

Relief/beneficial provisions 

Angel tax is a tax that private companies have to pay when they issue shares to someone at a price higher than the fair market value of the shares. The government's proposed Finance Bill aims to get rid of angel tax starting from April 1, 2024. This will be a great relief for companies that receive investments, including those from foreign sources.

The safe harbour rules will be expanded, and the transfer pricing assessment procedure will be streamlined.

IFSC-regulated finance companies may be exempt from thin capitalization rules as long as they meet certain conditions. This would put them on the same level as banks, some NBFCs, and insurance companies.

Other changes 

A new presumptive taxation regime is being considered for cruise ship operations conducted by non-residents in India, effective from the fiscal year 2024–25. This regime would deem 20% of the specified gross receipts as business income. Additionally, Cruise Ship Operators (CSOs) would be exempt from the presumptive taxation regime for non-resident shipping businesses. Specific group companies of these CSOs receiving lease rentals would also be eligible for tax exemption until the fiscal year 2029–30.

With effect from 1st October 2024, a significant change has been implemented in the tax treatment related to share buybacks by domestic companies. The tax burden has now been transferred from the company to the shareholders. The consideration received by the shareholder will be taxable as a "dividend" at applicable tax rates without any deduction for expenses, potentially resulting in a capital loss. Shareholders must proactively consider tax treaty benefits or dividend deductions available to them.

Before April 1, 2024, if a taxpayer transferred a capital asset through a gift, will, or irrevocable trust, it was not considered a "transfer" under the Income Tax Act. Therefore, no capital gains tax was applied to the transferor. Starting April 1, 2024, this rule will only apply to transfers by individuals or Hindu undivided families. This means that gifts or transfers to an irrevocable trust of any capital asset by other taxpayers will be subject to capital gains tax.

Procedural matters 

Currently, there is a time limit of seven years to pass an order deeming a person to be in default for failure to deduct or deposit TDS for resident payees. However, there is no such time limit for non-resident payees. Similarly, no time limit has been prescribed for cases of failure to collect or deposit tax at source (TCS). It is proposed to provide a common limitation period of six years for passing such an order for both resident and non-resident payees. A similar timeline has been prescribed for passing orders in the case of TCS provisions.

Effective April 1, 2025, a proposal to streamline compliance for non-resident liaison offices and introduce penalties for delayed compliance will take effect. Currently, the requirement dictates that the statement of activities must be filed within 60 days from the end of the fiscal year. The proposed changes will entail the specification of new timelines through established rules.

Applications for advance rulings that have been transferred from the Authority for Advance Rulings to the Board for Advance Rulings may be withdrawn by October 31, 2024, if they have not already been disposed of.

Non-locals and international businesses can settle ongoing legal disputes through the new conflict resolution program called the Direct Tax Vivad Se Vishwas Scheme 2024.

Last words

The national, state, and union territory governments of India are actively promoting foreign investment to drive economic transformation. While this presents promising opportunities, it's important for investors to approach this with caution, as both risk and opportunity are closely intertwined in India's investment landscape.

[graphaizesmm]

Manmohan vs Modi: A Decade of Economic Impact

The economic policies of Dr. Manmohan Singh and Narendra Modi have significantly shaped India’s financial landscape over the past two decades. This analysis provides a detailed comparison of their tenures, focusing on key economic indicators. Using infographics and data visuals, we contrast the performance of the UPA (United Progressive Alliance) under Manmohan Singh and the NDA (National Democratic Alliance) under Narendra Modi. The comparison covers GDP growth, retail inflation, tax-to-GDP ratio, stock market returns, trade deficit, government debt, and education expenditure.

The Big Thing. GDP Growth During Dr. Manmohan Singh’s tenure from 2004 to 2014, the Indian economy experienced an average GDP growth rate of approximately 7.7% year-on-year (YOY). This period saw robust economic expansion, driven by liberalization policies, increased foreign investments, and a booming services sector.

Under Narendra Modi’s leadership from 2014 onwards, the average GDP growth rate has been around 6.8% YOY. While the economy initially experienced strong growth, factors like demonetization, the implementation of GST, and the COVID-19 pandemic have affected overall performance.

Manmohan Singh’s tenure saw higher average GDP growth compared to Modi’s period. However, Modi’s government has focused on structural reforms intended to create a more resilient economy in the long term.

Controlling Retail Inflation Retail inflation, measured by the Consumer Price Index (CPI), averaged around 7.5% annually during the UPA years. High food and fuel prices were significant contributors to inflationary pressures during this period.

Under Modi, retail inflation has averaged around 4.8% annually. The government’s focus on inflation targeting through the Reserve Bank of India and measures to improve food supply chains has helped keep inflation in check.

Modi’s administration has been more successful in controlling retail inflation compared to the UPA period, resulting in lower average annual inflation rates.

Collecting Taxes Effectively: Tax to GDP Ratio The tax-to-GDP ratio is a crucial metric for several reasons. It indicates the government’s capacity to generate revenue from the economy. Higher ratios suggest that the government can raise more funds to finance public services and infrastructure.

During the UPA tenure, the tax-to-GDP ratio averaged around 10.4%. Efforts were made to widen the tax base, but challenges in enforcement and compliance persisted.

Under Modi, the average tax-to-GDP ratio has improved to approximately 11.5%. The introduction of the Goods and Services Tax (GST) aimed to simplify the tax structure and enhance compliance, contributing to higher tax revenues.

The NDA has seen a higher average tax-to-GDP ratio, reflecting better tax compliance and a broader tax base due to GST implementation.

Bull Run. Returns from Stock Market Returns The UPA era witnessed an average annual stock market return of around 15%. The period was marked by significant market rallies driven by economic growth and foreign investment inflows.

During Modi’s tenure, the stock market has delivered an average annual return of approximately 11%. Despite market volatility and economic disruptions, long-term reforms have supported market confidence.

While both tenures saw positive stock market returns, the UPA period experienced higher average annual returns compared to the NDA period.

Deficits and Debt. Economic The UPA years saw an average annual trade deficit of around USD 100 billion. High import bills, especially for oil and gold, contributed significantly to the trade deficit.

Under Modi, the average annual trade deficit has been about USD 70 billion. Initiatives like Make in India and measures to curb non-essential imports have helped reduce the trade deficit.

The NDA has managed to lower the average annual trade deficit compared to the UPA period, reflecting better management of import bills and a push towards domestic manufacturing.

During the UPA tenure, government debt averaged around 68% of GDP. Increased public spending and fiscal stimulus measures contributed to higher debt levels.

Under Modi, government debt has averaged around 70% of GDP. While the government has focused on fiscal consolidation, spending on infrastructure and social programs has kept debt levels high.

Government debt as a percentage of GDP has remained relatively stable between the two periods, with a slight increase under the NDA due to higher spending on developmental programs.

Education Expenditure (% of GDP Avg) Top education spenders in Asia, measured by GDP percentage, include South Korea (4-5%), Japan, Singapore (3-4%), Malaysia (4-5%), Thailand (around 4%), and Hong Kong (3-4%). These countries prioritize education, investing heavily in quality, technology, and skills development.

Education expenditure averaged around 3.8% of GDP during the UPA years. Significant investments were made in expanding access to education and improving infrastructure.

Under Modi, education expenditure has averaged around 3.5% of GDP. The focus has been on improving the quality of education, skill development, and digital learning initiatives.

Both administrations have allocated similar proportions of GDP to education, with the UPA slightly ahead in terms of average expenditure. However, the NDA has emphasized quality and skill development more prominently.

Comparing the economic impacts of Manmohan Singh and Narendra Modi’s tenures reveals distinct approaches and outcomes. The UPA period saw higher GDP growth and stock market returns, but also higher inflation and trade deficits. The NDA has managed better inflation control, an improved tax-to-GDP ratio, and a reduced trade deficit, reflecting a focus on structural reforms and fiscal discipline. Using infographics and data visuals, this comparison provides a clear understanding of each administration’s economic performance, helping readers grasp the broader impacts of their policies on India’s economy.

[prafultp]

Gold Rate in Chennai

In recent times, the jewelry industry in Chennai has been experiencing a wave of changes, primarily catalyzed by fluctuations in gold rates and amendments in the national budget. As we delve deeper into the ramifications of these shifts, it becomes evident that both consumers and businesses are seeking stability amidst the uncertainty.

Budget Changes and Their Impact

The Union Budget plays a pivotal role in shaping the economic landscape of the country, and its implications are particularly significant for the jewelry sector. Changes in import duties, GST rates, and other fiscal policies directly influence the cost and accessibility of gold, thereby affecting both retailers and customers.

One of the notable budget changes in recent years was the revision of import duties on gold, aimed at curbing the influx of imported gold and promoting domestic refining. While such measures are intended to bolster the Indian economy, they often translate into price fluctuations in the local market. Consequently, jewelers in Chennai have had to recalibrate their pricing strategies to align with these alterations, navigating a delicate balance between profitability and consumer affordability.

The Gold Rate Landscape in Chennai

Chennai, being a hub for traditional jewelry craftsmanship, is particularly sensitive to fluctuations in gold rates. The city's consumers are discerning and value-conscious, making informed decisions based on prevailing market conditions. Tracking the daily gold rates has become a ritual for many, as they monitor the slightest variations that could influence their purchasing decisions.

Despite the inherent volatility, gold continues to be a cherished asset for Indians, deeply entrenched in cultural ceremonies and familial legacies. This enduring affinity ensures a steady demand for gold jewelry, albeit subject to market dynamics.

With a commitment to transparency and customer satisfaction, Candere remains unrivaled in its dedication to offering value-driven solutions without compromising on quality. Whether it's a timeless wedding set or a contemporary statement piece, their extensive collection caters to diverse preferences, ensuring that every purchase is a cherished investment.

Linking to Gold Rate Wikipedia Page

For those seeking a comprehensive understanding of gold rates and their historical context, referring to reputable sources is imperative. Wikipedia's page on gold rates serves as an invaluable resource, offering insights into global trends, historical data, and key factors influencing price movements. Check out the Gold Rate Wikipedia page here.

In conclusion, while the jewelry industry in Chennai navigates the intricacies of budgetary changes and gold rate fluctuations, consumers can find solace in reliable platforms like Candere by Kalyan Jewellers, where quality meets affordability. By staying informed and making informed choices, both buyers and sellers can weather the shifting tides of the market with confidence and poise.

[genesishospitalkolkata]

Genesis Hospital Emerges as the Best Hospital for Laparoscopic Surgery in Kolkata

In the realm of healthcare excellence, Genesis Hospital stands tall as the epitome of precision and proficiency. Renowned as the best hospital for laparoscopic surgery in Kolkata, Genesis Hospital has consistently delivered top-notch medical care, particularly excelling in laparoscopic procedures.

Laparoscopic surgery, also known as minimally invasive surgery, has become the gold standard for various medical interventions, including gallbladder stone surgery. Genesis Hospital has carved a niche for itself in this field, emerging as the go-to destination for those seeking the best medical expertise in Kolkata.

Why Choose Genesis Hospital for Laparoscopic Surgery?

1. Specialized Expertise: Genesis Hospital boasts a team of highly skilled and experienced surgeons specializing in laparoscopic procedures. Their expertise ensures that patients receive the most advanced and effective treatment available.

2. Cutting-edge Technology: The hospital is equipped with state-of-the-art technology and modern infrastructure, facilitating advanced laparoscopic surgeries. This commitment to innovation allows Genesis Hospital to stay at the forefront of medical advancements.

3. Comprehensive Gallbladder Stone Surgery Services: Genesis Hospital isn't just the best for laparoscopic surgery in Kolkata; it's also the preferred choice for best hospital for gall stone surgery in Kolkata. The hospital offers a comprehensive range of services, ensuring patients receive holistic care from diagnosis to post-surgery recovery.

4. Patient-Centric Approach: Genesis Hospital prioritizes patient well-being and comfort. The dedicated medical staff ensures a patient-centric approach, offering personalized care and support throughout the treatment journey.

5. Proven Track Record: With a proven track record of successful laparoscopic surgeries, Genesis Hospital has garnered trust and admiration from patients across Kolkata. The hospital's commitment to achieving positive outcomes is reflected in its consistently high success rates.

Choosing the Best for Gallbladder Stone Surgery in Kolkata

Genesis Hospital's commitment to excellence extends beyond laparoscopic surgery to include gallbladder stone surgery. Recognized as the best hospital for gallbladder stone surgery in Kolkata, Genesis Hospital combines skill, technology, and compassion to provide unparalleled medical care.

In conclusion, for those seeking the best hospital for laparoscopic surgery in Kolkata or the premier destination for gallbladder stone surgery, Genesis Hospital stands as a beacon of reliability and excellence. With a steadfast commitment to advancing healthcare, Genesis Hospital continues to redefine standards, setting the benchmark for quality medical care in Kolkata.

For more Information:-

Best Hospital for Laparoscopic Surgery in Kolkata

Genesis Hospital

1470 Rajdanga Main Road,

Kolkata 700107 (Beside GST Bhawan)

Mobile 8584883878 | 8584883884

Mail: genesishospital2004@gmail.com

Website: https://www.genesishospital.co/

[adamgant]

143: All about fascia and movement as medicine with Anna Rahe

143: All about fascia and movement as medicine with Anna Rahe https://ift.tt/8vKposL Hi friends! Hope you’re having a wonderful week! Today, I have a new podcast episode live! This was a super fascinating conversation with the founder of GST Body, Anna Rahe. I had so much fun talking with her and learned a ton – definitely take a listen. 143: All about fascia and movement as medicine with Anna Rahe Here’s what we talk about in today’s episode: What is fascia – and why it might be the key to your body’s physical wellness How fitness can be therapeutic, and how you can use motion as medicine Why you don’t need someone else to fix your body problems, and how you can manipulate and control the outcome of your own health A daily exercise your audience can implement right now to take control of your body’s health and so.much.more. Here’s a bit more about Anna and her background: For the past 20+ years, Anna Rahe has delved deep into a liberating and empowering relationship with fascia so that as many people as possible can invest in their health, restore their vitality, and heal themselves with the proprietary tools she has created. As the founder, CEO and educator of GST Body, Anna has spoken about holistic body care through fascia around the world, partnered with top athletes, surgeons, physicians and celebrities, and been featured in various publications, from Shape to Elle, Net-a-Porter to The Wall Street Journal. You can check out GST Body here and connect with her on Instagram here. More resources from this episode: I love love love the meals from Sakara Life! Use this link and the code XOGINAH for 20% off their meal delivery and clean boutique items. This is something I do once a month as a lil treat to myself and the meals are always showstoppers. You can join their fall reset now! If any of my fellow health professional friends are looking for another way to help their clients, I highly recommend IHP. You can also use this information to heal yourself and then go one to heal others, which I think is a beautiful mission. You can absolutely join if you don’t currently work in the health or fitness industry; many IHPs don’t begin on this path. They’re friends who are passionate to learn more about health and wellness, and want to share this information with those they love. You can do this as a passion, or start an entirely new career. You can use my referral link here and the code FITNESSISTA for up to $250 off the Integrative Health Practitioner program. I highly recommend it! You can check out my review IHP Level 1 here! I just finished IHP2 and will share a review of my experience, too. I’m still obsessed with my sauna blanket. This is one of my favorite ways to relax and sweat it out. I find that it energizes me, helps with aches and pains, I sleep better on the days I use this, and it makes my skin glow. Link to check it out here. You can also use my discount (FITNESSISTA15) for the PEMF Go Mat, which I use every day, and the red light face mask, which is a staple in my weekly skincare routine. Get 15% off Organifi with the code FITNESSISTA. I drink the green juice, red juice, gold, and Harmony! (Each day I might have something different, or have two different things. Everything I’ve tried is amazing.) Thank you so much for listening and for all of your support with the podcast! Please be sure to subscribe, and leave a rating or review if you enjoyed this episode. If you leave a rating, head to this page and you’ll get a little “thank you” gift from me to you.  The post 143: All about fascia and movement as medicine with Anna Rahe appeared first on The Fitnessista. via The Fitnessista https://ift.tt/7mNf5GI October 26, 2023 at 06:30AM

[takataktop]

The next meeting of the GST Council is scheduled for October 7th, and it will include ministers from various states, along with the Finance Minister.

The 52nd meeting of the GST Council is set to take place on October 7th at the Science Building. This information was shared by the GST Council on the social media platform 'X'. The decisions made in GST Council meetings hold significant importance as they involve crucial determinations regarding GST rates. The previous 51st meeting of the GST Council took place on August 2nd.

The meeting, chaired by Finance Minister Nirmala Sitharaman, is scheduled for October 7th, and it will be attended by ministers from various states. The decisions made in GST Council meetings are considered highly significant, especially those related to GST rates. The GST Council announced on the social media platform 'X' that the 52nd meeting is slated to occur on October 7th at the Science Building. In the last meeting held in August, several important decisions were taken. This meeting saw deliberations on GST rates for items such as casinos, horse racing, and online gaming. A GST rate of 28 percent was determined for three categories of items. The previous GST Council meeting witnessed several noteworthy decisions. In this meeting, the GST rate for items like papad and kachori was reduced from 18 percent to 5 percent. Additionally, it was decided not to impose GST on satellite launch services provided by ISRO, New Space India Limited (NSIL), and Antrix Corporation Limited, as well as those offered by private companies. Furthermore, Arabella Bank and ICBC Bank have been included in the list of banks exempted from IGST on the import of gold, silver, and platinum. Read the full article

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Recent Challenges and Problems with GST

Introduction

An indirect tax known as the Goods and Services Tax (GST) was implemented in India on July 1st, 2017. A single tax system took the role of numerous taxes including the central excise duty, service tax, value-added tax, etc. The primary goals of GST Registration were to harmonize tax rates across the nation, prevent tax evasion, and simplify the tax code. The introduction of GST, however, has not gone well, and there have also been a number of difficulties with GST return filing. We’ll talk about the key concerns and how they affect businesses in this blog.

Challenges and Problems with GST:

There are many aspects that make GST challenging and problematic. These are a few of the key elements:

Complex Tax Structure: The GST faces many difficulties because of its intricate tax structure. There are four tax brackets in the GST system: 5%, 12%, 18%, and 28%. Rough precious and semi-precious stones are subject to a special fee of 0.25%, while gold is subject to a special rate of 3%. Because of the complex tax structure, it is challenging for enterprises to comprehend and follow the law. Confusion among taxpayers due to the complex tax structure has increased compliance expenses and lawsuits.

Mistakes in technology: The GST system mandates that taxpayers submit their returns online via the GST portal. The platform has had many technological issues, making it challenging for taxpayers to submit their returns on time. Technical difficulties have also caused improper GST Return submission, which has resulted in penalties and fines. To resolve the technological challenges, The GST Network (GSTN), which oversees the GST interface, has taken a number of actions. However, the issue still exists, and taxpayers still struggle with completing erroneous GST Returns.

High costs of compliance: GST compliance requires a number of different tasks, including GST registration, filing GST returns, keeping records, and being subject to audits. Significant expenses are associated with these efforts, which are covered by enterprises. Particularly for small and medium-sized businesses (SMEs), the costs associated with compliance have dramatically increased under GST. It is challenging for SMEs to function and compete with bigger companies because of the high compliance costs.

Issues with Input Tax Credit (ITC): One important aspect of GST is that it enables businesses to claim a credit for the tax paid on the inputs used to produce products or services. However, a number of problems have emerged with the GST ITC structure. The ITC refund being delayed is the main problem. Businesses are experiencing cash flow problems due to, a lack of working capital brought on by the refund’s delay.

GST Rates: Since the advent of the tax system, GST rates have been a subject of dispute. Since they directly affect the average person, the high tax rates on necessities have drawn criticism. The government has reduced the tax rates on several goods and services through many adjustments to the tax laws. However, businesses and customers are still concerned about the high tax rates on several goods and services.

E-way Bill System: An E-way Bill is a required document whenever goods worth more than Rs. 50,000 are transported. Numerous issues, including technical difficulties and delays in bill production, have plagued the GST E-way Bill system. Due to the delay in the drafting of the E-way Bill, goods have been held back, and company compliance costs have increased.

Business Effects of GST Challenges

Businesses, particularly SMEs, have been greatly impacted by the difficulties and issues with GST.

Increasing compliance expenses: Due to the high compliance costs associated with the GST, SMEs have found it challenging to operate and compete with larger businesses. A variety of tasks, including GST registration, GST return filing, record keeping, and audits, are included in the costs related to compliance. SME profitability and competitiveness have suffered as a result of the rising costs, which have put a heavy burden on them.

Cash Flow Problems: Because of a lack of operational capital, firms are having cash flow problems as a result of the delay in obtaining the ITC return. Businesses have found it challenging to manage their finances because of, the refund delay, which has limited their ability to invest and grow.

Increased Litigation: Because of the complicated tax structure and technological issues, there has been more litigation due to, the confusion among taxpayers. The increased litigation negatively impacts the operations of the corporations concerned by driving up legal costs and delaying the resolution of disputes.

Having difficulties Adapting to the New structure: The new tax structure that the GST has implemented is proving to be challenging for many firms. Businesses have found it challenging to comprehend and comply with the new system due to changes in tax rates, compliance procedures, and documentation requirements. Costs of compliance have increased as a result, and output has decreased.

Impact on Consumer Spending: Consumer spending has been negatively impacted by the high tax rates on a variety of goods and services. Consumer spending has decreased due to, consumers’ declining disposable income brought on by rising costs for goods and services. Businesses, especially those that depend on consumer spending, are severely impacted by the decline in it.

Conclusion:

An important step towards streamlining the tax system and establishing uniform tax rates across the nation was the introduction of the GST in India. The GST’s implementation, however, has not gone well. There are several difficulties and issues that have developed, like erroneous GST registration or GST return submission.

Businesses, especially SMEs, have been significantly harmed by the complex tax structure, technological challenges, high compliance costs, ITC problems, GST rates, and weaknesses in the E-way Bill system. The difficulties have led to higher compliance costs, problems with cash flow, an increase in lawsuits, difficulties integrating the new system, and a detrimental effect on consumer spending. Despite the government’s efforts to address the difficulties and problems with GST, there is still much to be done before GST is effectively incorporated into India’s tax system.