What is the lowdown on the Goods and Services Tax

Goods and Services Tax (GST) is the new system proposed to be rolled out from July 1 this year for taxing all goods and services that you consume. 
The Goods and Services Tax or GST will replace the myriad local, State-level and Central taxes that are built into the price you pay for products, and the service tax as well as cesses that are dovetailed to your outgoes when you dine at a restaurant or pay your mobile phone bills.
  • Multiple Central and State-level indirect taxes, such as sales tax, excise duty, Central value-added tax (VAT) and State VAT. The alphabet soup of taxes, differing regulations across 29 States, and difficulties in inter-State trade which often involve hours of highway snarls at border checkpoints to collect  and check documents, are a recipe for inefficiency and a proven incentive for tax evasion by sticking to the informal sector.

2016 Year Roundup - Important Topics

2016 Year Roundup - Important Topics

Prime Minister's first address to the Nation after demonetisation: Important announcements

Prime Minister Narendra Modi addressed the nation today i.e., December 31, 2016, his first since November 8, the day he announced a ban on circulation of old Rs 500, 1000 notes. 
Announcing a string of schemes during his New Year eve speech, the PM announced a string of schemes for the poor, farmers and senior citizens.