Sign up now
to enroll in courses, follow best educators, interact with the community and track your progress.
4th June 2017: Daily News Analysis
6,918 plays

Social security code; Gold to be taxed at 3% under GST

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.

Unacademy user
source - NIA gets its power from eight laws”: The Atomic Energy Act, 1962 (33 of 1962); The Unlawful Activities (Prevention) Act, 1967 (37 of 1967); The Anti-Hijacking Act, 1982 (65 of 1982); The Suppression of Unlawful Acts against Safety of Civil Aviation Act, 1982 (66 of 1982); The SAARC Convention (Suppression of Terrorism) Act, 1993 (36 of 1993); The Suppression of Unlawful Acts Against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act, 2002 (69 of 2002); The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 (21 of 2005); Offences under— Chapter VI of the Indian Penal Code (45 of 1860) [sections 121 to 130 (both inclusive)]; Sections 489-A to 489-E (both inclusive) of the Indian Penal Code (45 of 1860).
Zika Virus (pg.12), Science &Tech(pg.14), Tribal dialects of Odisha (Sec-2, front page), Plastic bottles recycling (Sec-2,pg.2), Snow leopard (Magazine). These could've been added. Anyway, nicely explained Sir.
1. Maharashtra Control Of Organised Crime Act, 1999 (Mcoca) - Maharashtra Act No 30 Of 1999 2. Rules Regarding Investigation Of High Quality Counterfeit Indian Currency Offences Rules, 2013. 3. Standard Operating Procedure (Sop) For Investigation Of Cases Of High Quality Counterfeit Indian Currency Notes 4. The Anti-Hijacking Act, 1982 (65 Of 1982) 5. The Arms Act, 1959 (Act No. 54 Of 1959) 6. The Atomic Energy Act 1962 (33 Of 1962) The Code Of Criminal Procedure (Amendment) Act, 2005 7. The Code Of Criminal Procedure, 1973 8. The Indian Penal Code, 1860 9. The Constitution Of India 10. The Criminal Law (Amendment) Act, 2013 11. The Extradition Act,1962 12. The Explosive Substances Act, 1908 (Act No. 6 Of 1908) The Indian Evidence Act With Indian Evidence (Amendment) Act,2002 13. The Indian Evidence Act, 1872 The It (Amendment) Act, 2008 14. The It Act,2000 15. The National Investigation Agency Act, 2008 16. The SAARC Convention On (Suppression Of Terrorism) Act 1993 (36 Of 1993) 17. The Suppression Of Unlawful Acts Against Safety Of Civil Aviation Act, 1982 (66 0f 1982) -The Suppression Of Unlawful Acts Against Safety Of Maritime Navigation Act 2002 (69 Of 2002) -The Unlawful Activities (Prevention) Act, 1967 (37 Of 1967) With Latest Amendment Of Act 3 Of 2013. -The Weapons Of Mass Destruction And Their Delivery Systems(Prohibition Of Unlawful Activities) Act,2005 (21 Of 2005)
Sir GST was meant to subsume all indirect taxes including customs duty right? So why is there custom duty in addition to GST on gold?
Farhan Ansari
3 years ago
Yes Dinkar, but except Custom Duty (on import and export)
Dinkar G
3 years ago
Oh man you are right. I confused it with excise duty. Thanks for the correction
jatin sir goes in detail wich is vry much essential for students like myself who is preparing at home by my own
  1. DAILY THE HINDU NEWS ANALYSIS 4th June, 2017 By Jatin Verma, Educator, Unacademy. unacademy

  2. ON SUNDAY For Online ESE 2018 GATE 2018 Adnission tnwe madeasoy On terror funding trail, NIA Conflict of interest led to conducts raids on separatists Mistry removal: Ratan Tata were other reasons hesns Naidu predicts easy -win for TDP in 2019 New GST, rate of3% fr gold, diamonds -. ..-1" a. .. Delhi's pass percentage down 13% in Class X Pak claims five Indian soldiers killed

  3. About NIA: National Investigation Agency (NIA) is a central agency established to combat terror and act as Central Counter terrorism Law Enforcement Agency. . It was established after the 2008 Mumbai terror attacks with the enactment of National Investigation Agency Act, 2008. . The agency has concurrent jurisdiction to deal with terror related crimes across states without obtaining special permission from the states, apart from covering offences that are challenges to the sovereignty and integrity of the country, .It also probes counterfeit currency, human trafficking, organized crime, violatins of atomic energy act etc . The agency is headed by a Director General and the officers for the agency are recruited from other agencies like the Indian Revenue Services, State Police departments, Income Tax department, Central Armed Police Forces.

  4. Entry 8 Listl: CBlI Entry 2. List l: Preventive detention for reasons connected with Defence, Foreign Affairs, or the security of India; persons subjected to such detention. Entry 3, List IIl: Preventive detention for reasons connected with security of a State, the maintenance of public order, or the maintenance of supplies and services essential to the community; persons subjected to such detention The NIA can also arrest suspects for up to 180 days without bail and special NIA courts have been notified by the government which can award penalty such as life imprisonment to those involved in terror attacks.

  5. Page 7: Draft Social Security Code raises doubts about efficacy The labour ministry is in the process of converting 44 laws into four codes-industrial relations, wages, social security and safety-to simplify the existing labour rules 'It is evasive about the beneits accruing to workers in the unorganised sector' The Centre's draft Social Security Code, purportedly consolidating as many as 44 labour laws, has created doubts about its efficacy, as it has retained the drawbacks of earlier legislations and is evasive about the benefits accruing to workers in the unorganised sector. . Activists said the code was a"complicated set of rules" and it did not address the concern of labourers in the domains of wages, welfare, industrial relations and safety and work conditions

  6. Advantages: HEase of doing busines + Better awareness among labourers + As contractualisation is a reality and is increasing TAT this consolidation is an opportunity to insert progressive provisions I. Creation of a political fund by trade unions under the Trade Union Act is (A) Compulsory (B) Optional (C) by donation from political parties (D) No such provision in the Act

  7. 10.The basic principle underlying the enactment of the Trade Unions Act is: (A) To protect interests of workers against disregard of human elements in industries (B) To regulate the relationship of workers and their organization by regulating the nene balance of power. (C) To provide strength to workers to settle the industrial disputes. (D) To provide security to workers against the occupational hazards.

  8. Provisions of Industrial Disputes Act Employer cannot change the existing service conditions / salary of a worker unilaterally without giving a notice of 21 days to the workers and the union. .A company with more than 100 workers must get Government's permission before mass layoffs or closing down business. A permanent worker can be removed from service only for proven misconduct or for habitual absence due to ill health, alcoholism and the like, or on attaining retirement age. In other words the doctrine of hire and fire' is not approved within the existing legal framework. Industrial Disputes Act provides for setting up of Labour courts and Industrial tribunals.

  9. . Page 1 + 10: New GST Rate of 3% for Gold [now 6 slabs! .GST to be rolled out from July 1, 2017. . The existing four categories of footwear on which different rates of tax applied have been simplified into two categories, those costing below 500 and those costing above this amount. They will be taxed at 5% and 18%, respectively. Within textiles, silk and jute yarn have been placed in the exempt category, while cotton and other natural fibre will be taxed at 5%. Man made yarn will attract a rate of 18% while natural yarn will be taxed at 5%. All fabric will be taxed

  10. Multi-tiered system Tax rate Indicative items Soaps, oil, 50% of the consumer price 18% o/ toothpaste, O refrigerator, O basket, including foodgrains smartphones Mass consumption items like spices and mustard oil 5% White goods, o o cars 28% LOI Luxury cars, 1290 Processed % pan masala, % foods tobacco, aerated drinks plus cesS Source: GST council