23rd GST Council Meet held in Guwahati, 28% Tax Only for 50 Items
- The GST Council has decided today to increase in the Composition Scheme threshold to Rs 2 crore. The Council, which has been going to take its 23rd meeting at Guwahati, decided that there will be no inter-state taxes and input tax credit for composition dealers.
- In an interview to in the media, Revenue Secretary said: “There is a complete overhauling that is required. It is possible that some items in the same chapter are divided. There is a need for harmonization of items chapter wise and wherever we find there is a big burden on small and medium businesses and on common man, if we bring them down, there will be a better compliance.”
- “Lower 18 per cent GST will be levied on chewing gums, chocolates, after shave, deodorant, washing power, detergent, marble,” Bihar Deputy Chief Minister Sushil Modi said.
- “There were 227 items in the 28 per cent slab. The fitment committee had recommended that it should be pruned to 62 items. But the GST Council has further pruned 12 more items,” Modi said. He said, “All types of chewing gum, chocolates, preparation for facial make-up, shaving and after-shave items, shampoo, deodorants, washing powder detergent and granite and marble will attract lower 18 per cent tax rate.”
- “There was unanimity that in 28 per cent category there should be only sin and demerit goods. So, today the GST Council took a historic decision, that in the 28 per cent slab there will be only 50 items and the remaining items have been brought down to 18 per cent,” he said.
- Paints and cement have been retained in the 28 per cent tax bracket. “Luxury goods like washing machines and air conditioners have been retained at 28 per cent,” Modi said. The decision taken by the GST Council will have a revenue implication of Rs 20,000 crore annually. “There is consensus that slowly 28 per cent slab should be brought to 18 per cent. But it will take some time because it has a big revenue implication,” he said.
- “We have been gradually bringing them down. The whole idea is, as your revenue collections neutralise we must prune it and that is the pattern in which the Council has so far been functioning. I see that as a future guide as far as the Council is concerned,” Jaitley had said.
Telangana passes three bills including one on prevention of dangerous activities
- The Telangana Legislative Assembly has passed the three bills that has work as the some of the assembly of the Prevention of Dangerous Activities Act, after Congress, Bharatiya Janata Praty (BJP) and Communist Party of India-Marxist (CPI-M) members has get in the walk of the government refusal to send one of the bills to the select committee.
- In the term of the shows as the fact that has given by the Act by including several other offences, the government introduced a Bill to amend the Telangana Prevention of Dangerous Activities of Bootleggers, Dacoits, Drug-Offenders, Goondas, Immoral Traffic Offenders and Land-Grabbers Act, 1986 on Tuesday.
- In the amendment, the government has included spurious seed offenders, insecticide offenders, fertiliser offenders, food adulteration offenders, fake document offenders, scheduled commodities offenders, forest offenders, gaming offenders, sexual offender, explosive substances offenders, arms offender, cyber crime offenders and white collar or financial offenders to be punished under its provisions.
- In the term of the exchange of the Treasury benches and the Opposition parties were witnessed during the debate on the Bill and when Home Minister Naini Narsimha Reddy observed that the attitude of the Opposition parties amounted to supporting such offenders, they faulted the remarks and demanded that the government send the Bill to the select committee. When their demand was rejected, members of the three parties staged walkout and the Bill was passed afterwards.
- Telangana is a state in southern India. In the capital of Hyderabad, the Charminar is a 16th-century mosque with 4 arches supporting 4 towering minarets
- The monument overlooks the city’s long-running Laad Bazaar
- Once the seat of the Qutb Shahi dynasty, the sprawling Golconda Fort is a former diamond-trading center
- In the city of Warangal, the centuries-old Warangal Fort features carved stone towers and gateways
- Founded: 2 June 2014
- Capital: Hyderabad
- Districts: 31
India re-elected as member of UNESCO’s executive board
- India has once again get the reelection of the UNESCO’s executive board, its top decision- making body, an official said.
- “The election was held at the 39th session of the General Conference of the United Nations Educational, Scientific and Cultural Organisation in Paris,” he said.
- “The news is quite significant and indicates the position of India globally. The executive board is the top decision- making body, so it is an important achievement,” the official of the UNESCO India office here said.
- It meets every two years, and is attended by Member States and Associate Members, together with observers for non-Member States, intergovernmental organisations and non- governmental organisations (NGOs), according to the UNESCO.
- “Each country has one vote, irrespective of its size or the extent of its contribution to the budget. The General Conference determines the policies and the main lines of work of the organisation.
- “Its duty is to set the programmes and the budget of the UNESCO. It also elects the Members of the Executive Board and appoints, every four years, the Director-General,” it said.
BANKING AND FINANCE
IFAD approves USD 30 million for north east project
- The International Fund for Agriculture Development (IFAD) has given the approval for the USD 30 million soft loan for phase four of the North Eastern Region Community Resource Management Project for Upland Areas (NERCORMP).
- NERCORMP is a livelihood and rural development project under the North Eastern Council, covering several districts in Assam, Meghalaya, Arunachal Pradesh and Manipur. “Seeing the success story of NERCORMP, the IFAD, under the leadership of Rasha Omar, has recently approved a soft loan of USD 30 million for NERCORMP IV,” North Eastern Council secretary Ram Muivah said here.
- This project will be increase at the districts previously not covered previously under NERCORMP. “The NERCORMP project had successfully transformed the lives of 1.2 lakh rural women and has also emerged as an instrument of women empowerment and game-changer for women in the North East,” he said.
- IFAD India Director Rasha Omar said the soft loan for NERCORMP IV is under consideration by the Centre and the districts to be covered are yet to be finalised. “Under its first phase during 1999-2008, two districts each in Assam (Karbi Anglong and Dima Hasao), Manipur (Ukhrul and Senapati) and Meghalaya (West Khasi Hills and West Garo Hills district) were covered, reaching out to 39,161 households and forming over 3,100 women self-help groups,” NERCORMP Managing Director Shailendra Chaudhuri said.
- The International Fund for Agricultural Development is an international financial institution and a specialised agency of the United Nations dedicated to eradicating poverty and hunger in rural areas of developing countries
- Head: Gilbert Houngbo
- Founded: December 1977, Rome, Italy
- Formation: 1977
- Parent organization: United Nations
Government triples home loan limit for central government employees to Rs 25 lakh
- In the term of the taking the apportunity for the homebuyers, central government employees can now take an advance of up to Rs 25 lakh for the construction or purchase of house at a simple interest rate of 8.50 per cent. In the starting there was the maximum borrowing limit was Rs 7.50 lakh with interest rate slabs ranging from 6 per cent to 9.50 per cent.
- “The total amount to be paid at the end of 20 years comes to around Rs 51.50 lakh, including interest component of Rs 26.50 lakh,” he added.
- “However, if the same amount is borrowed under the HBA at 8.50 per cent (simple interest) for 20 years, the monthly installment comes to Rs 13,890 for first 15 years and Rs 26,411 per month for the remaining period,” he said.
- “The total money that have to paid comes to around Rs 40.84 lakh, including interest component of Rs 15.84 lakh.” The Housing and Urban Affairs Ministry makes rules for HBA for central government employees from time to time.
- “Employee can borrow upto 34 months of the basic pay subject to a maximum of Rs 25 lakhs, or cost of the house/flat, or the amount according to repaying capacity, whichever is the least for new construction/purchase of new house/flat,” the release said, quoting the revised HBA rules. Earlier, the limit was only Rs 7.50 lakh, it added.
- “The cost ceiling limit of the house which an employee can construct/purchase has also been revised to Rs 1 crore with a provision of upward revision of 25 per cent. The earlier cost ceiling limit was Rs 30 lakh,” it said.
- “This attractive package is expected to incentivise the government employee to buy house/flat by taking the revised HBA along with other bank loans, if required. This will give a fillip to the housing infrastructure sector,” the release said.
Science and Technology
NASA reveals ‘last hope’ emergency abort test in 2019 for the Orion capsule that could take man to the moon and Mars
- NASA has given the statement in the report EM-1 launch schedule, and revealed this week that it is targeting December 2019 for the unmanned precursor mission, with plans to put crew on board in the early 2020s.
- “This will be the only time we test a fully active launch abort system during ascent before we fly crew, so verifying that it works as predicted, in the event of an emergency, is a critical step before we put astronauts on board,” said Don Reed, manager of the Orion Program’s Flight Test Management Office at NASA’s Johnson Space Center in Houston.
- “No matter what approach you take, having to move a 22,000-pound spacecraft away quickly from a catastrophic event, like a potential rocket failure, is extremely challenging.”
- “Engineers at several NASA centers already are building the Orion test article that has many of the design features and the same mass as the capsule that will carry crew,” NASA says.
- “Because the test is designed to evaluate Orion’s launch abort capabilities, the crew module used for AA-2 will not deploy parachutes after the abort system is jettisoned, nor will it have a reaction control system with thrusters needed to help orient the capsule for a parachute-assisted descent and splashdown after the LAS is jettisoned.”
- “While the review of the possible manufacturing and production schedule risks indicate a launch date of June 2020, the agency is managing to December 2019,” said acting NASA Administrator Robert Lightfoot.
- “Since several of the key risks identified have not been actually realized, we are able to put in the place mitigation strategies for those risks to protect the December 2019 date.”
Indians set 2 world record on para world cup
- Indian para shooters Deepender Singh and Manish Narwal has won the two medals that is Gold and Silver one by one in the P1 10m Air Pistol SH1 category in the Shooting Para Sport World Cup on Thursday.
- With 238.3 points, Deepender broke the world record set by Iran’s Mahdi Zamanishurabi (235 points) in September. Meanwhile, 16-year-old Narwal set a junior world record with 236.6 points.
AWARDS & RECOGNITION
Girija Devi to get posthumous Lifetime Achievement award
- Eminent classical singer late Girija Devi has given the honor of the prestigious Sumitra Charat Ram Award for Lifetime Achievement on November 17 here.
- Hardeep Singh Puri, Minister of State (Ministry of Housing and Urban Affairs), will give the award to the thumri maestro’s daughter, Sudha Datta, at Kamani Auditorium.
- “It is with a heavy heart that we are presenting this award posthumously. She sang at the Kendra’s Shriram Shankarlal Music Festival only in March this year and little did one know that her words that time would be prophetic,” Shobha Deepak Singh, director Sriram Bharatiya Kala Kendra (SBKK), said.
- The Sumitra Charat Ram Award has been given noth of those that is the contribution in the field of Indian classical dance and music or other disciplines of Indian art and culture including theatre during the last 15 years and who have had a significant impact in promoting a particular art form.
Padma Shri awardee author Manu Sharma passes away
- The great and famous author and Padma Shri awardee Manu Sharma died here following a prolonged illness at the age of 89 years.
- Manu Sharma alias Hanuman Prasad Sharma died has died at his residence place, by his family sources said.
- He was nominated for the one of the ‘navratna’ of the Swachha Bharat Abhiyan by Prime Minister Narendra Modi during his visit to Varanasi, his Lok Sabha constituency in 2014.
- Sharma had donated his lifetime savings of Rs 20 lakh for the renovation of a ‘ghat’ in Varanasi to carry out a cleanliness campaign.
World Pneumonia Day
- World Pneumonia Day (November 12) is the day that is celebrated annualy for the fight against pneumonia. In all over the world there are the more than the 100 organisation has working for this and Global Coalition against Child Pneumonia to hold the first World Pneumonia Day on November 2, 2009.
- Save The Children artist ambassadors Gwyneth Paltrow and Hugh Laurie, Charles MacCormack of Save The Children, Orin Levine of PneumoADIP, Lance Laifer of Hedge Funds vs. Malaria & Pneumonia, the Global Health Council, the GAVI Alliance, and the Sabin Vaccine Institute joined together in a call to action asking people to participate in World Pneumonia Day on November 2. In 2010, World Pneumonia Day falls on November 12.