GST & Economics General Discussions

Anish Pai

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earning 20lakhs/annum ??
No. But i spoke to CA. He said once u make a GST Registration u have to charge GST on rent even if the earning is not 20L/Annum. Other way he said is to cancel GST registration, but in future my family may start own business under the same premises, hence we are not keen to cancel the registration as to again apply for it will take time.
 

Gobinaath

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No. But i spoke to CA. He said once u make a GST Registration u have to charge GST on rent even if the earning is not 20L/Annum. Other way he said is to cancel GST registration, but in future my family may start own business under the same premises, hence we are not keen to cancel the registration as to again apply for it will take time.
Hmm then ur Tennant is the scapegoat here seems :sneaky::sneaky::cautious::cautious:
 

Gobinaath

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But how do i file the return and pay the GST on rent to the Govt, ???
Contact ur auditor

I think business gst filling & commercial rent gst filling is different i guess
 

Sarkar

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Sarkar

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Big boost to Narendra Modi before 2019 elections: India to grow faster than China; details here

The Asian Development Outlook (ADO) 2018 report says Indian economy will expand by 7.3% in FY 2018. This will be followed by a 7.6% growth in FY 2019

The report says Chinese economy would expand by 6.6% in FY 2018 and by 6.4% in 2019. “Expansion in China should moderate to 6.6 per cent in 2018 and 6.4 per cent in 2019 as economic policy leans further toward financial stability and a more sustainable growth trajectory,” the ADB said.
 

Sarkar

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Wrong interpretation.
States have to keep their share of 40% or 50% money to get rest of the money from Union Govt which they used to contribute 10% or 20%.
So they have less money for any specific schemes for their state.
Indirectly loss to the states.
I don't get you. How do you get that 50% figure of State ?

Till 14th Finance commission states were getting 32% and after 14th commission states share is raised to 42% from central tax pool. It means now states has more financial autonomy from earlier position. States have now 10% more funds to spend as per their wish.

Now earlier social welfare projects were mostly funded (75%)by center as States were eligible for only 32% monetary value so they bear earlier PM names but now as center has raised the States monetary share in 14th commission so center has reduced their monetary share in social welfare projects from 75% to 50%. And that's why we see many central projects are renamed again before implementing in States.

I can give you Bengal's data. For example central Swatchha Bharat or Beti bachao mission beti parao (girl child education) does not exists here, our TMC govt renamed those projects as Nirmal bangla and KanyaShri etc projects.

Anything wrong in my data ?
 

Scofield

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I don't get you. How do you get that 50% figure of State ?

Till 14th Finance commission states were getting 32% and after 14th commission states share is raised to 42% from central tax pool. It means now states has more financial autonomy from earlier position. States have now 10% more funds to spend as per their wish.

Now earlier social welfare projects were mostly funded (75%)by center as States were eligible for only 32% monetary value so they bear earlier PM names but now as center has raised the States monetary share in 14th commission so center has reduced their monetary share in social welfare projects from 75% to 50%. And that's why we see many central projects are renamed again before implementing in States.

I can give you Bengal's data. For example central Swatchha Bharat or Beti bachao mission beti parao (girl child education) does not exists here, our TMC govt renamed those projects as Nirmal bangla and KanyaShri etc projects.

Anything wrong in my data ?
You are talking about 14th FC. Now 15th FC is already creating ruckus in southern states as it has suggestions to allot funds based on 2011 population as opposed to 1971 population in previous FC. Even 14th FC has 10% weightage for 2011 population.

Between 1971 and 2011, Kerala and Tamil Nadu had population growth of 56% and 75% respectively – the lowest among all states.

On the other hand, Uttar Pradesh, Bihar, Madhya Pradesh and Rajasthan saw an explosion in their population. Their combined population growth was nearly 50 million higher than the national pace of growth can justify.
Why Southern States are Rallying Together Over the Terms of the 15th Finance Commission - The Wire
 
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