Category archives: Business

Govt won’t use ‘hammer’ to get firms to cut prices, busts ‘myths’ on GST

The government does not intend to use the “hammer” immediately to pull down prices, leaving it to market forces to guide companies to pass on the benefits of goods and services tax (GST) to consumers. “Competition will force them to fall in line. You don’t have to use the hammer immediately,” a high-ranking officer told TOI, adding that companies and small businesses were themselves passing on the gains with consumers. […]

Here's how India can become more integrated in global trade

Global commerce has been changing since the late 20th century. Rather than trade finished products, such as cars, countries now exchange parts and components that, together, produce a finished commodity. Facilitated by lower transportation and communication costs, the inputs of production can be sourced from the most economical place. Every country that participates in world trade today has its place in this global value chain. For emerging nations, engaging in […]

GST Is Here. How It Will Impact You In 10 Points

The historic GST or goods and services tax has become a reality. The new tax system was launched at a function in Central Hall of Parliament on Friday midnight. GST, which embodies the principle of “one nation, one tax, one market” is aimed at unifying the country’s $2 trillion economy and 1.3 billion people into a common market. Under GST, goods and services fall under five tax categories: 0 per […]

GST launch: PM Modi rolls out India's biggest tax reform, says it's start of fair system ending black money, corruption

India launched its ambitious pan-India indirect tax regime, the Goods and Services Tax (GST) at the stroke of midnight hour to bind the country into a regime of “one nation, one tax, one market”. President Pranab Mukherjee and Prime Minister Narendra Modi pressed the button to launch the new indirect tax regime on a digital screen with “GST” emblazoned on it in a golden hue to mark the entry of […]

Why Narendra Modi-Donald Trump meeting is a disappointment for Indian H-1B visa users, businesses

  High profile meetings of world leaders are normally characterised with photo ops, exchange of antiques and mundane statements that are more generic in nature and less specific on the issues at the moment. Major bilateral decisions — economic or diplomatic — are rarely announced on such occasions. Narendra Modi-Donald Trump meet was not very different. Both patted each other on the back like ‘true friends’ and said goodbye in […]

The elephant and the dragon

Multilateral trading arrangements under the World Trade Organisation have expanded over time. Yet, the current global trade landscape is characterised by an overwhelming number of regional trading arrangements. The proliferation of regional trading arrangements has been so pervasive that Jagdish Bhagwati calls it a spaghetti bowl. All countries try to tap into emerging markets through trade agreements. One of the strongest emerging markets is the group of nations that comprise […]

How To Manifest Your Money Desires In 3 Simple Steps

As with all manifestations, if you’re looking to create powerful money manifestations, you have to start with the basics: clarity. You need to be clear on what kind of relationship you want with money, what you need from it, and how you can ask for it. Whether you’re looking to build a new relationship with your money, heal your existing one, or expand it, there are 3 steps to create […]

Now, Your Bank Passbooks Will Have More Details: 10 Things To Know

The Reserve Bank of India (RBI) has advised commercial banks to provide adequate transaction details in the passbooks of account holders. “In the interest of better customer service, it has been decided that banks shall at a minimum provide the relevant details in respect of entries in the accounts,” the central bank said in a notification. The RBI said that many banks still do not provide adequate details of the […]

Preparing For GST: What Consumers Must Keep In Mind

The GST is set to roll out from midnight June 30. A lot of column space has been devoted to its purported benefits for customers and the possible impact on industries and different businesses. Essentially as we understand it, GST is an indirect tax reform that will usher in a uniform tax paying regime. It will be a single tax that everyone from a manufacturer to a consumer will pay. […]

GST for consumers: What you should know before paying when the new tax regime kicks in

Much has been talked about the Goods and Services tax (GST) implementation starting next month, its impact on industries and how it will benefit the consumer. Just to reiterate, Goods and Services Tax is one indirect tax reform, which will make the country one unified common market for industries to pay taxes. It is a single tax on the supply of goods and services, right from the manufacturer to the […]