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1st July 2017 Part-2: Daily News Analysis(in Hindi)
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Daily News Analysis Telecom Regulator pitches for lowerntaxbrate for Telecom sector

Jatin Verma is teaching live on Unacademy Plus

Jatin Verma
Have appeared in UPSC CSE thrice. Have been taking Unacademy Plus courses Academics- Polity, Economics & Current Affairs.

U
Unacademy user
I am currently pursuing Mechanical Engineering from Indian Institute of Technology and wish to study abroad for M.S. in Aerospace/Aeronautics/Mechanical field. My Area of Interest is in Research & Development. If I decide to have some work experience in any core company/industry, will that add to my profile and will I have a better chance to get admitted into top universities.
sir you have written Reduction in GST rate on telecomes service TO 5% from the current 18% by the GST council..according to this sentence rates on telecoms services is to be reduced from 18% to 5% ..not increase from 5% to 18%.. please clear this point
IS DNA BY JATIN SIR IS SUFFICIENT.....? OR NEED TO READ THE HINDU ADDITIONALLY ALSO REQUIRE ???
Thnku sooo much sir..for ur great effort nd imparting best knowledge...ur course is valuable for begginers lyk me..thnks...u r one of d best educator...:)
sir aap Jo video upload kar rage ho WO 2018 Tak save rahenge ya nahi ?
Anurag Singh
2 years ago
Haan unless DB corrupt na ho, jiski possibility kam hai
Anurag Singh
2 years ago
Beech me remove kar de to pata nai
sir hindu ke liye kitna time spend kar dena chahiye....? me MARATHI me preparation kar raha hu..
Vivek Kosaria
2 years ago
Sir start with it in starting it may take 2-2:30 hrs later on you can do within 1 Hr but only required news need to see , watch Jatin Sir or Roman Sir news paper reading . :)
ok thank you
  1. Daily The Hindu News Analysis IST JULY 2017 By Jatin Verma Educator Unacademy unacademy For Editorial Analysis & English video,Visit my Unacademy Profile- https://unacademy.com/user/studiousjatin


  2. Page 9:How will the Centre ensure States' finances are not hurt? What was the issue? . The GST is a destination- based tax, and as such is viewed as being to the advantage What was the issue? of the consuming States and to the detriment of the producing States like Maharashtra, Tamil Nadu, Gujarat, Haryana, and Karnataka. . These States had raised objections to the implementation of GST, forcing the Centre to agree to a formula for compensating them in the event of a loss of revenue. The 14th Finance Commission advised the Centre to provide 100% compensation to States for their revenue loss after implementation could be as much as 55,000 crore.


  3. . Where are the funds? The GST, once implemented, will subsume almost all the cesses levied at the moment, including Swachh Bharat Cess and Krishi Kalyan Cess. Other cesses like the education cess on imported goods and the cess on crude oil will remain under GST. However, the government needs extra revenue to compensate the States, and so the GST Council decided to impose additional cesses for five years on certain goods over and above the highest tax bracket of 28%. These goods on which cess will be levied include tobacco products, coal, motor vehicles, which include all types of cars, personal aircraft, and yachts. These additional cesses, however, will be removed after five years & the States incurring losses would have to find alternatives


  4. . GST will curb tax avoidance: FinMin Finance Minister said the rollout of the Goods and Services Tax (GST) will ease inflation, make tax avoidance difficult and boost GDP growth . Govt. said the implementation of the landmark unified tax should be seen as the beginning of a new journey that will expand the country's economic horizon He further said 17 transaction taxes in States and the Centre and 23 cesses would be subsumed in the GST. An assesse will have to file only one return. e Inflation will come down, tax avoidance will be difficult, India's GDP will be benefited and extra ce will be diffiult, India's GDP wil resources will be used for welfare of poor and weaker section.


  5. . The benefit of the GST system is that essentially it subsumes all taxes into one.This means that whatever activity you are in, there is only one indirect tax that is applicable"You do not have to worry about the different forms of taxes that are applicable for your activity. That instils a degree of certainty in the system and it also eases the complexity of getting yourself registered In terms of the actual complexity of taxes, it depends on what business you are engaged in within the tax system. The second advantage is that it has done away with levies on inter-State transactions _which means you are really opening up the market The third is that GST will hopefully remove the cascading of taxes which was endemic in the previous system. complexity ofta es,it depends on what business youare engaged in


  6. . Certain drawbacks.: The first is that it is extremely complex because of the number of tax rates being levied and, Second, because each State is being treated as a separate tax jurisdiction. Because of this, it introduces additional complexity in the GST system which, in a different form of GST, would not have been there. So although you are not going to be worrying about 2 different taxes, you might have to worry about the complexity of a single tax rate across the country, which can get quite demanding. The issue there is the complexity of the tax system really depends on the range of goods and services a particular enterprise is transacting in in. e If you have relatively few goods and services you are transacting in either as a buyer or a seller, then it works quite well. But if you are transacting in a large number of goods and services, then the system can get quite complex.


  7. Page 12 WORLD NEWS: India offers help to Sri Lanka's Northern Province High Commissioner tells CMWigneswaran that New Delhi will provide assistance for projects e India has expressed willingness to further partner Sri Lanka's Northern Provincial administration in development initiatives, emphasising the need for a clear economic programme identifying specific areas. Indian High Commissioner to Sri Lanka handed over as many as 16,000 books to the iconic Jaffna public library The collection will be kept at the 'India Corner' in the library, which Prime Minister inaugurated during his maiden visit in 2015 Germany legalises gay legalises gay marriage: India- Section 377 of IPC- Del India- Section 377 of IPC- Delhi HC marrlage: Indla- Section 377 OT TPC- Deln Hc


  8. Business Page:TRAl pitches for lower GST . The Telecom Regulatory Authority of India has pitched for a reduction in the GST rate for telecom services to 5% from the current 18% decided by the GST Council, and recommended a cut in levies such as licence fee and spectrum usage charges . The recommendations follow a meeting between the regulator and telcos on June 15 to discuss the financial health of the industry that is currently sitting on a debt of 4.6 lakh crore. . TRAl has said that DoT"may consider actively taking" up with the Ministry of Finance the issue of reduction in GST rate from 18% to a flat 5% by declaring the telecom sector as core infrastructure industry and economy enabler in India. On several other issues like:- - levies of licence fee, Universal Service Obligation (USO) Fund, spectrum charges, - promotion of wireline infrastructure etc,


  9. TRAl in the past has already given its recommendations to the government. TRAI had earlier recommended reducing USO levy to 3% of the adjusted gross revenue from the current 5%. with this reduction, the applicable uniform rate of licence fee would become 6% from the present 8% of the adjusted gross revenue. e In their meeting with the regulator, the operators had raised concerns over differential spectrum usage charges (SUC) as there was no uniformity in the SUC for different telecom operators. The telcos had '"argued that 2010 onwards, the spec- trum is being auctioned and a high bid amount is being paid to acquire the spec- trum...They also added that besides this, other fees are also being levied on the telcos; so, there is an urgent need that SUC should be reduced to the level of recovery of the administrative cost of the spectrum management."


  10. . Question.The setting up of a Rail Tariff Authority to regulate fares will subject the cash strapped Indian Railways to demand subsidy for obligation to operate non- profitable routes and services. Taking into account the profitable routes and services. Taking into account the experience in the power sector, discuss if the proposed reform is expected to benefit the consumers, the Indian Railways or the private container operators. [UPSC Mains 2014]