Indian Economy News & Discussion - Nov 27 2017

[chetak]

[Vayutuvan]

In a remarkable transformation, Indian ports have shed their sluggish past to emerge as high-efficiency hubs. Turnaround time for ships has plummeted from 4 days in 2014 to less than a single day, outpacing even several developed nations.
...
source: the-pulse.in

Volume and number of ships is also important right? , i.e. the ratio (turn around time)/volume or (TAT/#Ships)

[V_Raman]

^^Are you saying that the trade-in value (4L) is not deducted from new car value for GST purposes? Some states in the USA allow it and some do not for calculating Sales Tax.

Correct, trade in value cannot be deducted. Furthermore, let's say the cost on the new car (to the shop) is 7L and GST on that is, let's say 10%, i.e. 0.7 L. This 0.7L is recoverable against the sale price but if trade in value is used then the sale GST is 0.4L, i.e. the shop can actually recover 0.3L from the state! This is contrary to the duty of care in the collection of a "sales tax".

Are we saying I, as a buyer of the new car, have a way to recover the GST on the trade-in value - 4L in this case?

[Lisa]

If you sell your second hand car to your friend, do you charge and repatriate GST to the state?

[A_Gupta]

If you sell your second hand car to your friend, do you charge and repatriate GST to the state?

Such sales have no GST per a variety of websites.
e.g., https://myraasta.in/blogs/do-i-have-to- ... lete-guide

[bala]

State wise GDP or GSDP for 2024-25. TN leads the pack in growth.

https://pbs.twimg.com/media/GxpCXONawAA ... name=small

[AkshaySG]

State wise GDP or GSDP for 2024-25. TN leads the pack in growth.

https://pbs.twimg.com/media/GxpCXONawAA ... name=small

Poor #s from Madhya Pradesh keeping in mind the low base and almost continuous BJP government... Both it and Raj have immense potential to industrialize but the execution has been lacking and now both have fallen deeper into freebies focused vote buying

[Lisa]

If you sell your second hand car to your friend, do you charge and repatriate GST to the state?

Such sales have no GST per a variety of websites.
e.g., https://myraasta.in/blogs/do-i-have-to- ... lete-guide

Accordingly, the Indian government is right to charge full GST on sale price of a new car and to decline an allowance for the excange of a second hand car.