Ganeshimpex

Ganeshimpex We used our extensive logistics knowledge and experience to create a straightforward guide to shippi

11/08/2016

An anti-dumping duty of USD 474-557 per tonne was imposed on 'hot-rolled flat products of alloy or non-alloy steel' import from China, Japan, South Korea, Russia, Brazil and Indonesia, the Department of Revenue in the Ministry of Finance said in a notification.

The duty would be in force for six months till February 7, 2017.

The anti-dumping duty was imposed on recommendation of the Directorate General of Anti Dumping (DGAD).

An anti-dumping duty of USD 474 per tonne was imposed on import of hot-rolled flat products of alloy or non-alloy steel of a width up to 2100 mm and thickness up to 25 mm from Korea and Japan.

Korean firms attracting the anti-dumping duty are Hyundai Steel Company and POSCO. Three Japanese companies JFE Steel Corp, Nippon Steel and Sumitomo Metal Corp are also featuring in the list.

11/08/2016

Cabinet approves amendments to GST Bill, removes 1% additional tax

via ET Markets App(Download Now):
http://ecoti.in/etmtks*GST highlights :*

1.be ready for 36 to 49 returns per year.
2.lumpsum turnover limit 50 lacs
3.input tax credit available only if Electronic data matches.
4.15 digit pan based GST no.
5.Penalty for return Per day Rs.100 and maximum Rs.5000
6.output,input and summary based returns submission.
7.Tax credit only available if sellers tax shows online.
8.Liquors,petroleum products out of GST net.
9.Return filling limit 10,15,20 days after due date for type of return.
10.threshhold turnovrr limit is 10 lacs
and for north east 5 lacs.
11.Jammu and kashmir is also included in GST regime.
12. TDS limit 10 lacs.
13. Existing TIN will be migrated and issue Provisional GST is valid for 6 months..if docu submitted within 6 months than Final GST will be allotted.
14.Tax audit figure and GST data has to be reconciled in annual return.
15.if any mismatch in data than data will be transferred to IT dept.

11/08/2016

Constitution Amendment Bill for GST passed by Rajya Sabha...
Paves way for Implimentation for GST w.e.f. 01.04.2017
BELOW STEPS PENDING DO NOT READ MIS LEADING HEADLINE??
The process is below What next for GST
Pls mind GST will come in *Winter session* today only amendments passed
2. Then this will go to loksabhav
3. Then states have to pass min 50% states need to clear
4. Then finally in winter session it will come again to LOK N RAJSABHA.
Which is d 5th GST IMPLEMENTATION DATE

11/08/2016

GST Impact on Sectors/Companies in a Nutshell

» Banks Current Tax Rate 15%. After GST, 18%. Negative

» Consumer Staples Current Tax Rate 22%. After GST, 18%. Positive for Asian Paints, Dabur, HUL, Emami; Negative for ITC, UBL

» Consumer Discretionary Current Tax Rate 15%. After GST, 18%. Negative for Jubilant Foods, Cafe Coffee Day, Restaurant businesses

» Media & Entertainment Current Tax Rate 15% + 7% State Entertainment tax. After GST, 18%. Positive for Dish TV, Videocon D2H, BIG TV

» Telecom Current Tax Rate 15%. After GST, 18%. May see marginal dip in consumption

» Auto & Auto Ancillary Current Tax Rate 27%. After GST, 18%. Positive for M&M, Maruti, Bajaj Auto, Eicher Motors, Ashok Leyland, etc.

» Metals Current Tax Rate 18%. After GST, 18%. No significant impact

» Cement Current Tax Rate 27%. After GST, 18%. Positive for UltraTech, Shree Cement, Ambuja Cement, etc.

» Pharma Current Tax Rate 15%. After GST, 18%. Negative for Pharmaceutical co.s

» Real Estate Current Stamp Duty 15%. After GST, 16%.No significant impact

» Logistics No change in Tax Rate after GST. Postive for Container Corp, GATI, etc.

Address

No 150, Cisons Complex, G-7 Moneith Road, Egmore
Chennai
600008

Opening Hours

Monday 10am - 8pm
Tuesday 10am - 8pm
Wednesday 10am - 8pm
Thursday 10am - 8pm
Friday 10am - 8pm
Saturday 11am - 6pm

Telephone

9952020471

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