When GST was launched in 2017 the Revenue Neutral Rate was 15.3%. With continuous downward revisions of GST rates in 400 items the Revenue Neutral Rate came down to 11.6% today translating into a sharp tax cut of 25% in GST rate.
No GST need to be paid by buyers of constructed property — building and ready-to-move-in flats where the sale takes place after the issue of the completion certificate
This is Feb 2020 Uber receipt.
We use to pay 5% GST on the fare then.
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1.45 Billion Covid19 Vaccines administered in India in last 365 days fastest in the world. 99% vaccines were Made in India making it a successful #AtmanirbharBharat story
Total Market Capitalisation of BSE Listed companies
In Dec 2014, Results of J&K assembly polls declared, verdict hung. PDP gets 28 seats, BJP 25, NC 15 and Congress 12 in the 87-member assembly.
After long deliberation for 3 months BJP decided to enter alliance with PDP to form coalition Govt there.
Mufti Mohammad Sayeed sworn in as the chief minister of Jammu and Kashmir on March 2015.
All hell broke loose among the BJP supporters. They felt betrayed. Some said that BJP has traded its ideology to grab power. Some supporters even started equating BJP & Congress.
But BJP leadership was very clear from Day 1.
Forming the Govt with PDP on the pretext of obeying the mandate of people of J&K to investigate and understand in minute details all the inner secrets of governance of J&K Govt since 1954 like bureaucracy and deep state.
In 2015, Modi has brought Land Acquisition Bill to acquire land parcels adjoining highways at market rates.
The intention was to set up Industries and Infrastructure to create Rural jobs.
Congress instigated the farmers that Modi Govt is out to forcefully acquire their land.
All opposition party ganged up on this issue. Even some of its allies distanced themselves with this ordinance.
Modi Govt was branded Suit-Boot ki sarkaar, which is helping his industrial friends to set up their factories.
ironically even Industrial houses opposed the move.
Rajya-Sabha numbers were stacked against him.
Modi has to withdraw the bill amidst opposition. Even his supporters questioned his 56 inch image and tweeted jokes /memes. NOTA gang also got activated and started instigating his supporters.
His supporters were also abused & hounded
2⃣Agri Infra tax - ₹ 4/litre
₹ 30000 cr - APMC, Storage infra & Food Processing park
3⃣Excise - ₹ 12.40/ litre
41% goes to States
Central Taxes on Petrol-Diesel is fixed at Rs 32-34/ litre.
Out of which a portion is given to the state directly & rest is spent on the road construction in the States.
State Taxes like VAT on Petrol is on percentage.
Higher Crude rates translates into higher taxes for State.
The Fuel revenue usually forms 20% of the State revenue. This is the reason every state irrespective of party line opposes fuel inclusion in GST.
Even if Fuel is included in 28% GST bracket it means a Annual revenue loss of ₹ 4.27 lakh crore to States.