EXCLUSIVE INTERVIEW WITH PRINCIPAL SECRETARY OF COMMERCIAL TAXES


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GST & COMMON MAN

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The much awaited Goods and Services Tax system, purported to be a huge relief for the nation from the earlier multiple tax system (i.e., excise, VAT and service tax), is now in effect from the date already set for it, that is, July 1, 2017.   The slogan raised by the government is ‘One Nation, One Tax’, although the opposition parties criticize the GST to be just a brand name change, with the same complexity involved as it was in earlier tax system. But the Government says that the ‘in effect’ GST system will ease the burden on common man, as it simplifies and integrates instead of the previous complex and multi-tax system.   Critics of the tax system from the economic & financial analysts’ circles say that the GST system in its due course will result in inflation, crumbling the business and service sectors of the country. The reason they cite is that many of the common, essential product’s and service’s tax rates have been increased and the rates of luxury i...
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DHIRUBHAI AMBANI AEROSPACE PARK APPROVED AT MIHAN

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The Reliance Aerostructure proposal for the development of the Dhirubhai Ambani Aerospace Park with related infrastructure facilities and services at Mihan SEZ (Nagpur) got the approval of Board of Approval (BoA) for special economic zone (SEZ) under the Ministry of Commerce, an official statement said here on Monday. "With the BoA nod, the Dhirubhai Ambani Aerospace Park (DAAP) at Mihan, spread over 289 acres, will become the largest greenfield aerospace park in the country. In the first phase, development will be spread over 104 acres and the second phase will cover an additional area of 185 acres," the statement said. Business at the aerospace park is expected to exceed Rs. 2,00,000 crore over the next 30 years, the company announced. "The aerospace park will also be home to the Dassault Reliance Aerospace Limited joint venture, which is presently creating the state-of-the-art integrated eco structure to execute the Rs 30,000 crore offset program linked...
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BOLLYWOOD ACTRESS GETS INJURED ON THE SHOOTING SPOT

B-Town actress Prachi Desai gets injured on the sets of Kosha. The Rock On 2 fame actress was shooting for her upcoming film Kosha in one of the sets in Mumbai, and the scene demanded the actress to jump over with supporting ropes from a two-storey building and she had to land on the ground and chase a car. The actress convinced the director that she would be doing the stunt by herself and while doing the stunt, the actress fell to the ground and suffered severe injuries. Prachi Desai was immediately rushed to the hospital where she was given first aid and reports say that the actress will be on bed rest for next two days post which she will be back again to the sets of Kosha to finish her last schedule of the film.
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