Wednesday, August 27, 2014

Unfair Practices in restaurant business & Hotel Business leads black money and corruption due to un- clarity in TAX system


Unfair Practices in restaurant Business & Hotel Business leads black money and corruption due to un- clarity in TAX system

Market Current needs - Reducing Taxes




Suggestion to PM of India-Removing Tax to remove black money and corruption

One INDIA, One VAT & One Service Tax   
Benchmarking Europe, Europe have no of countries but behaving like one

We talk about one India but why does VAT changes from state to state it should be common nation wise bench mark the Europe

Appeal from Central board of excise and Custom - Department of revenue
 http://www.cbec.gov.in/
& https://www.aces.gov.in/ -- aces.servicedesk@icegate.gov.in


 Clarity in product and service,


  • Service tax should not be imposed on product. It is for service
  • VAT bring in force to remove the middle people but it is misused by state government
  • What is the meaning of VAT – Value Added Tax in Food Item or restaurant Food? 
  •  Un-clarity of Service meaning in restaurant. Restaurant owner charging Service tax + VAT + Service, This is big source of Black money. Restaurant Framework needs to be establishing for Restaurant food. 

Taxes I have seen many kind of manipulation due to un-clarity in tax rules in the name of service Restaurant owner charging unnecessary charges and big source of black money.

  •  Service Tax 4.8% (in few places 4.94%) now ( 2015-  5.6%
  •  VAT- 12.5% (In Noida 14%)
  •   Surcharge 5%
  •    Education Cess
  •    S & H. Edu. Cess
  •    Service charge
  •    Tip
  •     Luxury Tax

Solution:


1. No service charge in restaurant allow
2. All prices mention in menu should include all type of taxes
3. Then taxes need to be paid by hotel or restaurant owner
4. Same kind of concept need to bring in other product and services also. means all inclusive

  Restaurant Segment frame work need to be redefine

 

 

 
Really Public -Not Liking Government Initiative
many taxes Increasing the tax load to generate revenue
In a decisive step towards the introduction of Goods and Services Tax (GST) in India, Friday (December 19, 2014) saw the tabling of the Constitutional (One Hundred and Twenty Second Amendment) Bill, 2014 in the Lok Sabha. 

According to the Government, the Bill will be taken up for passage in the Budget session in 2015. This sets the tone for the implementation of GST in India.

Long Term Changes wish to see with New Government

Long Term Changes wish to see with New Government 


  1. No direct taxes, Income tax, Property tax, VAT, CST , GST, Service tax, .... only bank transaction tax (0.01%) to boost liquidity in market.
  2. Government Bill like - Every person/ Companies/ religious Institution / Sports body/ Film Industry/ should have to spend 70% of his/her last financial year income in in next financial year or other wise need to spend in social drive in other word only 30 % of income can be saved for future. this will boost the market , lots of liquidity , no corruption. no terror activities.
  3. Every one have job
  4. Every one have one home.
  5. Every one should have free school education( up to 12th) and free health hospital for children and senior citizen like in foreign country
Mind Blowing Idea presented by http://www.arthakranti.org/
really thankful for wonderful thought
http://timesofindia.indiatimes.com/india/ArthaKranti-suggests-bank-deposit-based-tax-system/articleshow/28531756.cms












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