GST To Curb Black Money, April 2017 Roll-Out Tough: Experts

GST To Curb Black Money, April 2017 Roll-Out Tough: Experts
New Delhi: The Goods and Services Tax (GST) regime will weed out black money and usher in an efficient taxation system, but the April 2017 roll-out deadline appears to be challenging, experts said.

“GST will be the biggest reform since 1991 which will make India an attractive destination for foreign investments. Manufacturing will get more competitive due to the emergence of a national market as against the present fragmented one.”

“The low tax to GDP ratio of the country will go up, helping the government to adhere to fiscal discipline and keep inflation in check. It will improve productivity and transparency,” Hinduja Group chairman Ashok P Hinduja said.


The passage of the GST Constitutional Amendment Bill is a “milestone in the history of India’s economic reforms” and makes the country competitive, especially in manufacturing, in the global market, said Sachin Menon, partner and head-indirect tax at KPMG in India.

The Rajya Sabha on Wednesday gave its approval to the long-pending GST Bill as the government brokered a consensus with other political parties to get the reform legislation passed.

The April 1, 2017 roll-out deadline for the new indirect tax regime looks tough but both the states and Centre are ready in terms of preparedness, experts said.

“In terms of the affirmation and righteous intent on GST to be implemented in the country, possibility of its implementation from April 1, 2017 would be arduous, if not impossible,” said Nangia & Co managing partner Rakesh Nangia.

According to PwC (India) partner-indirect tax Anita Rastogi, both the Centre and states are on the right path for GST implementation with broad modalities in place.

“Technically, April 2017 can happen. It looks tough but not impossible. Implementing from June or July would be easier as GST is a transaction tax,” she said.

The Centre has already put up in public domain the model GST law, the rules for business processes and refunds.

“An April 2017 deadline would therefore be challenging. Realistically, the date may be closer to July or October 2017,” said Rohit Jain, partner, Economic Laws Practice.

After the passage of the GST Constitutional Amendment Bill by the Lok Sabha and the President’s assent, the GST Council will be set up. Parallely, 50 per cent of the state assemblies or at least 15 states will have to ratify the bill.

Following that, the Central GST (CGST) legislation is expected in Parliament in the winter session and the state GST (SGST) will have to be passed by respective state assemblies.

Also, the GST Network (GSTN) that will form the IT backbone for the entire levy would have to be evolved.

“The information technology preparedness for GST roll-out is very good. The GST rules are being drafted and also the final list of luxury goods and exempt goods are to be notified,” Mr Rastogi said.

KPMG’s Mr Menon further said, “As every transaction needs to be mandatorily reported in the GST network, which tracks all reported transaction from source till consumption, it will be difficult to generate black money in a chain of transactions. In that sense, GST is the real black money law.”

Experts further said GDP growth would be positively impacted.

“With GST law becoming an Act, businesses too will have to begin their process of GST preparedness as soon as possible to ensure full optimisation of this opportunity. Businesses need to be given sufficient time to be GST ready (such as adapting their IT systems, invoicing mechanisms etc),” said Mr Nangia.

Mr Hinduja added, “Elimination of tax cascading is expected to place the economy in the growth trajectory of 8 per cent and above with the seamless flow of goods and services.”

“GST rate above the range of 18-22 per cent will be regressive. Clarity is needed on the continuance of existing exemptions especially those linked to investment made both at the centre and state levels.”



2017 Nissan GT-R Evaluation

2017 Nissan GT-R Tail Light


The 2017 GT-R made its debut on the 2016 Ny Automobile Display
The 2017 GT-R’s V6 motor receives a 20bhp strength bump and extra torque too
The new GT-R might be heading to India later this year
Nissan GT-R
Nissan GT-R
1.5 – 2 crores (Anticipated Rate)
Study greater
Few vehicles benefit the ‘legend’ tag, and there’s no argument that the Nissan GT-R is really one of them.The car‘s popularity precedes it, and after all what number of large-slayers get to be referred to asGodzilla?! The 3rd era car has been round seeing that late 2007, but is one of the maximum constantlyupdated and tweaked products in the Automobile international. Nissan has added out manyenhancements and modifications over the years however the 2017 Model yr car that debuted at the NyDisplay in March, might be seeing the maximum sizable changes yet. And it will be the remaining time that occurs before the japanese corporation brings us an all-new 4th generation vehicle in a couple ofyears. I drove The new vehicle in its trims and in three one-of-a-kind paint colorations to boot – the blue,grey and the all-new Katsura Orange. At the same time as the blue is a stunner, the orange simply set mytemper proper, given I landed into murky, cloudy, rainy and really depressing climate in Dusseldorf to begin my force!

2017 Nissan GT-R Front Profile
2017 Nissan GT-R Front Profile

So whilst the modern-day gen R35 become being revised another time, the intention was not most effective to make it a more potent performer but additionally make it a greater comfortable ordinaryvehicle. It is tough is not it? To hold the ‘R’ in GT-R at the forefront, ensure it is every bit the Gran Turismo and additionally make it secure extra and luxurious than earlier than. Properly that becomepretty a great deal the quick that Hiroshi Tamura and his team had. And before I am getting into any extrainfo let me surely say – they have nailed it. I say this after driving The brand new car, and additionallyevaluating it in my head to the first R35 I drove in 2008. The distinction is quite amazing.

2017 Nissan GT-R Rear Profile
2017 Nissan GT-R Rear Profile

When you get into The brand new car‘s plush cabin, hit the red begin button, and produce the monster toexistence, it nearly urges you to get going. Sure there’s something about this automobile that invitationsyou to push things tougher! The instantaneous I began riding two things came across almost right awaygreater torque and higher chassis stiffness. The GT-R’s frame shell has undergone a structuralredecorate. Tamura san’s group has stiffened the structureespecially around the A and C pillars. The car‘s suspension additionally now has stiffer mountings, and re-valved Bilstein adaptive dampers. howeverexperience best has been softened a chunk over the previous automobile‘s to maintain lengthy distanceusing consolation in thoughts.

2017 Nissan GT-R Cabin
2017 Nissan GT-R Cabin

The engine now has a new ignition (borrowed from Nismo) and a new titanium exhaust device to offer itextra increase pressure. The twinturbo three.eight litre V6 provides 20 bhp of strength and a piecegreater torque too. What is splendid approximately the GT-R is that it races to excessive performanceright away. In truth the gearbox fast receives to the 6th tools and that i felt there may be room for every other ratio. Tamura san says that might most effective add weight to an already heavy car. Unlike its (much pricier) German rivals, the GT-R is heavy and does not use aluminium creation either you spot.however notwithstanding the extra weight (1752 kgs) the GT-R has quite flat frame manipulate. Themassive takeaway for me after spending time with the GT-R is its very direct and extremely responsivesteering. It wishes mild inputs and is ever so accurate. I had pretty a time of it using on the raterestrictionfree sections of the autobahn. And then again through some winding united states of americaroads as we crossed the border into Belgium. Barring the negative visibility at instances, the moist climatedid no longer hamper my power a whole lot.

2017 Nissan GT-R performance
The 2017 Nissan GT-R impresses with the extremely top class interior

I have been very lucky as I then examined the intense overall performance of the GT-R on a moist musicat Spa-Francorchamps. The mythical circuit gives the maximum remarkable twists, bends and elevationmodifications. I’ve goosebumps truely writing approximately it – and feature to say I’m still pinching myself to agree with that I got to go to and drive on the famed music. There are so many bits of this tunewhich can be well known and I was searching forward to all of it as I gingerly stepped out for my first lap. It became raining and the surface changed into no longer just wet, but there was status water at thetrack in a few places. The GT-R cut via it all without difficulty. I did no longer flip balance manage off,but did have the throttle and suspension in R Mode for extra stiffness and tauter overall performance.

2017 Nissan GT-R riding Dynamics
2017 Nissan GT-R using Dynamics

I’ve to mention that I used to be honestly looking ahead to negotiating the Blanchimont (excessivespeed left hand turn) and navigating the Eau Rouge (uphill left with a blind summit). And neither disappoint.specifically the latter, that’s preceded by means of a decent hairpin (Los angeles Source) just beforeyou are amazed into the blind climb very quickly. Quick is the key word at this track, as it has extremelyfast turns. The Kemmel Instantly lets in you to get The car to speeds over 220 kmph, but you need toquickly fall returned as you method the right-left-right aggregate of Les Combes. The 7-kilometre song asit’s miles these days is not anything short of incredible. And the GT-R was completely at home on itnotwithstanding being a gruff and quite heavy sports car. Of direction I still assume I was delivering toosoon (in particular at the wonderfully devilish lengthy hairpin referred to as Bruxelles after the Belgian capital), and so I sincerely want to move again and pressure a few more. Wishful questioning isn’t it?

2017 Nissan GT-R music overall performance
2017 Nissan GT-R track performance

The car‘s cabin is now very plenty the premium sports activities vehicle, its performance is absolutelyextreme and it nonetheless appears and sounds like the Godzilla it is supposed to be! The general formof The car stays similar, however distinct modifications were made to its metal to boom aerodynamics. The face has gone through a massive reconstruction with a new grille to allow lots greater air in to useful resource higher engine cooling. This always approach compromising each pace and downforce. Soparticular layout changes which includes a trade to the rear spoiler help negate that impact. Thisincludes a very redesigned hood, all-new bumpers and that new grille, deeper facet sills, and a brand newrear diffuser. The wider face looks meaner than earlier than too, and the LED signature lighting fixturesnow appearance greater awesome and worth of the GT-R badge that embellishes the Front grille. The recognizable dual hind lights are actually LED rings and appearance quite attractive too.

2017 Nissan GT-R Tail Mild
The special tail Light earrings now get LED remedy on the 2017 Nissan GT-R

Inside the cabin the GT-R has undergone a main change. The top rate Edition vehicle I drove on day one, and the Black Edition on day had been both extremely Nicely finished and highquit trims. there’snappa leather-based everywhere in the top of the sprint, door panels and seats of direction. In truthNissan says it is the first top rate automobile to use one unmarried piece of leather throughout theentire sprint. The gearshift and steerage are also wrapped in leather-based and the cloth exceptional of the plastics, chrome and metallic bits experience very premium and Properly put together.

The seats are electrically adjustable and are very a whole lot race-car like of their appeal and shape, butare still cozy and without problems adjustable to provide consolation on long drives. I drove The car for over three hundred kilometres in rainy and really depressing conditions and but now not as soon aschanged into the cabin missing on comfortalthough it took me some time to locate precisely the rightseat adjustment to in shape me!

Nissan has attempted to throw in extra devices and chocolates on The new R35. So you get the entiretyfrom touchscreen navigation to bluetooth, opposite digicam and a better sound system. there is even an iDrive like one-dial-controls-all feature now. but Nissan nevertheless has loads to analyze on interface andphotos pleasant I suppose. While it’s miles all practical, its not the maximum person-intuitive, and thedisplays are a touch crude when as compared to the Germans.

2017 Nissan GT-R India
The 2017 Nissan GT-R lives as much as its name – Godzilla

The brand new GT-R will genuinely give its legions of fans international lots to grin about. Should it’slither, greater precise and lighter on its ft? Surebut then the concept isn’t to have a Eastern 911 clone is it? The GT-R has a certain individual, and the R35 exemplifies that. The new vehicle isn’t always up there on performance accuracy with the likes of a 911, but it isn’t always trying to be (and isn’t alwaysoperating at that Charge point besides). Rather you get the Godzilla persona, masses of attraction,loads of grunt and truckloads of sheer amusing. The GT-R will arrive in India around Diwali this year – andWhilst its engine may be down-rated for nearby gasoline situations (with an over a hundred bhp drop welisten – yikes!) it will still be The auto many will need, however I think simplest few can have.

Indian Banks’ Terrible Loans Might also Upward thrust to 8.5% By means of March 2017: RBI

Indian Banks' Bad Loans May Rise to 8.5% By March 2017: RBI

Mumbai: Gross Horrific loans at Indian banks Might also Upward push to 8.five per cent of generalproperty By way of March 2017 from 7.6 percent in March 2016 if the significant financial institutionorders them to conduct a 2nd round of asset excellent evaluations, a Reserve financial institution of India (RBI) record said on Tuesday.

In the meantime, underneath a “severe pressurescenario, overall Bad loans may want to Upward thrust to nine.3 percent in March 2017, the RBI said in its semi-annual Financial Balance file.

The RBI brought that the assessments, though “stringent and conservative”, had been additionallyhypothetical, pronouncing “the intense negative monetary situations mentioned here must not be interpreted as forecast or anticipated effects.”

The RBI ultimate 12 months instructed banks to conduct an asset quality evaluation (AQR) in a bid to get a better photo of the extent of potentially soured property held inside the quarter.

Outgoing RBI Governor Raghuram Rajan had made cleansing up banks a priority in the course of hisalmost threeyear tenure given the arena is saddled with $120 billion of sour loans, that’s constraining new lending and company investments.

Nonetheless, the RBI has no longer ordered a second spherical of formal tests, even though it hasstated it might continue reviewing asset exceptional at banks.

“The stress within the banking sector, which mirrors the pressure within the corporate region, needs to be dealt with so as to revive credit score increase,” Mr Rajan wrote in the record.

The first AQR led banks to understand around $35 billion of latest Awful loans on account thatSeptember, pushing gross Awful loans to 7.6 in step with cent in March from five.1 in keeping with cent in September 2015.

In the meantime, usual burdened belongingswhich include Terrible loans in addition to restructuredassets – rose to 11.five percentage in March from 11.three percent six months in advance.

even though analysts agree with the evaluate has presented a more correct picture of Terrible debt in the area, it has dented profit and restrained credit growth over the past months.

That is the final Economic Stability file beneath Mr Rajan, after the previous Global Financial Fundchief economist greatly surprised the us of a this month By pronouncing he would depart whilst his tenure ends on September 4.

But analysts broadly assume the next RBI Governor to hold the push to smooth up the banking quarter.

© Thomson Reuters 2016

(This tale has no longer been edited With the aid of NDTV team of workers and is automobile-generated from a syndicated feed.)
tale first posted on: June 28, 2016 17:18 (IST)

Tags: RBI, NPA, Horrific loans, Banking region, Raghuram Rajan, Monetary Stability record, RBI governor

Wow Momo to set up 40 more outlets across seven cities by March 2017

Capex for a Wow Momo QSR outlet is <span class='WebRupee'>Rs.</span>12-30 lakh and that of the restaurant is almost <span class='WebRupee'>Rs.</span>35 lakh.

Capex for a Wow Momo QSR outlet is Rs.12-30 lakh and that of the restaurant is almost Rs.35 lakh.

New Delhi: Wow Momo, a quick service restaurant (QSR) chain which sells different versions of Tibetan dumplings, is planning to open over 40 outlets by March 2017 as it looks to strengthen its presence beyond its key market, Kolkata.

Besides Kolkata, Wow Momo Foods Pvt Ltd operates in seven cities including Delhi, Bengaluru, Chennai, Kochi, Noida and Pune with 64 outlets.

Delhi which currently has seven outlets will have at least 25-30 of the new outlets. The rest would be planned across the five cities. These would include a mix of kiosks and quick service restaurants.

“We are not looking at any new cities right now but growing in the cities where we are present. We have achieved huge success in Kolkata, we want to replicate that in Delhi NCR (national capital region) and grow more in Bangalore, Chennai and other markets,” said Sagar Daryani, co-founder and chief executive officer.

He added that capex for a QSR outlet is Rs.12-30 lakh and that of the restaurant is almost Rs.35 lakh.

The company is also looking to raise $15-20 million by September for its expansion.

Wow Momo, which recently set up its own delivery fleet in Kolkata, will bring delivery services to Delhi by April. It claims to be getting 10% of its business from delivery, 40% from takeaway and the rest from dine-ins. The target is to have 40% business from delivery by March 2017.

“Delivery is important as it will help us reach a much wider target audience,” said Daryani. The company is doing 170-200 deliveries per day with an average ticket size of Rs.215 and a fleet of 40 bikes and 50 riders. It plans to double this number by September 2016.

Founded in 2008, by Daryani and Binod Homagai, the company offers 12 flavours of momos across different variants including steamed, fried, pan-fried, sizzler, and baked.

It sells 150,000 momos per day with 60,000 being sold only in Kolkata.

According to a Technopak Advisory report, the QSR category is growing at a compounded annual growth rate of 25% and is expected to reach Rs.16,785 crore by 2018.

According to the company, it raised Rs.10 crore at a valuation of Rs.100 crore in a round led by Sanjeev Bikhchandani, founder and executive vice-chairman of Info Edge on behalf of Indian Angel Network in August.

The company, which operates at a gross margin of 48-55%, is looking to close the financial year with revenue of Rs.32 crore. It reported Rs.20 crore revenue during 2014-15.