PIB Updates -1st July

  GST regime and Fertilisers

• The GST Rate for fertilizers reduced from the Existing 12% to 5%.
• There will be a uniform MRP of Rs.295.47 per 50 kg bag across the country (except couple of States where additional VAT is charged on the natural gas as Natural gas has not been brought within the ambit of GST).
• It will also  deter inter-state smuggling of fertilizers (which may be currently happening due to difference in Taxes and Consequently MRP in different adjoining states) by integrating the entire fertilizer market into a Single Market .

Commodities not covered under GST in India :-

1

•       Alcohol for Human Consumption
•       Petroleum Products viz. crude petroleum,natural gas,motor spirit(petrol),high speed diesel,Natural gas and Aviation Turbine Fuel
•       Electricity

GST : Great Instrument to Help Poor Move up the Ladder

· 
         Unlike the Excise or Other Levies,the GST that subsumes several Central and State Taxes,is not the Source or Manufacturer based but a destination or Consumer centric Tax.

·      
          States like U.P. , Bihar , Odisha ,W.B. and North East, which don’t have much of a Manufacturing base and were losing on revenue ,but have more consumers would stand to gain while the developed and Manufacturing hubs would be compensated at least five years of the GST Launch

·   
z    Such a vibrancy would then lead to interest of investors, both domestic and global, into manufacturing and related service sectors, opening vistas for job creation for millions of  people.

CENTRAL TAXES to be SUBSUMED IN GST

• ·         CENVAT(Central Excise Duty)
• ·         Additional Excise duties
• ·         Excise Duty levied under the Medicinal and Toiletries Preparation (Excise Duties)Act 1955
• ·         Service Tax
• ·         Additional Customs Duty
• ·         Special Additional Duty of Customs -4% (SAD)
• ·         Surcharges and Cesses levied by the Centre wherever they are in the nature of taxes on Goods and Services .Eg. Cess on rubber,tea ,coffee etc
• ·         Central Sales Tax to be phased out .

STATE TAXES to be SUBSUMED IN GST

• ·         VAT/Sales Tax
• ·         Entertainment Tax
• ·         Luxury Tax
• ·         Taxes on Lottery ,betting and Gambling
• ·         States Cesses and Surcharges related to supply of Goods and Services  
• ·         Octroi and Entry Tax
• ·         Purchase Tax

      Slum Yuva Daud

•     The Slum Yuva Daud is part of the Adopt Slum Campaign initiated by the Ministry of Youth Affairs and Sports and Nehru Yuva Kendra Sangathan
•     It aims at highlighting the government’s pro-people schemes among masses.  

  Nehru Yuva Kendra Sangathan(NYKS) :Established in the year 1972 with the objective of providing rural youth avenues to take part in the process of Nation building as well as providing oppurtunities for development of their personality and skills.

Youth Clubs/Yuva Kendras are village based organisation working for community development and youth empowerment

   

These are formed and encourages to participate in sports,cultural and local development activities.

In the year 1987-88,NYKS was setup as an autonomous organisation under the Min. of youth Affairs and  Sports to oversee working of these Kendras .

It is the largest grassroots level organisation;one of its kind in the world.

Objectives of NYKS are two fold :-

1.To involve the rural youth in nation building activities.

2.To develop such skills and values in them with which they become responsible and productive citizens of a modern, secular and technological nation.

TEXTILE INDIA 2017

Textile India 2017 is the first summit of its kind. 

This maiden initiative is a collaborative effort of several Export Promotion Councils under the Ministry of Textiles, with Confederation of Indian Industry (CII) being the industry partner.

This mega exhibition showcases India’s strength in the entire gamut of textile and apparel value chain, from fibre to fashion. 

The exhibition is a platform to strengthen the textile value chain in India and offers a perfect environment for B2B engagements