Jun 7, 2019 | Business
By- Mr Neh Srivastava, Under Secretary, Ministry of Home Affairs and President, CSSOS
New tax regime for buyers with completion certificate; flexibility to opt for lower GST sans ITC
With elections done and dusted, the Central Board of Indirect Taxes and Customs (CBIC) is moving ahead with its plan to implement its 12 per cent GST order on balance amount due to the builders. As per the order, Home buyers who have been granted completion certificate by March 31, 2019 will have to shell out 12 per cent GST on their purchases.In a second FAQ released in April, the Central Board of Indirect Taxes and Customs (CBIC) had said that builders will not be able to adjust the accumulated credits in ongoing projects in case they opt for lower new GST rate of 5 percent for normal and 1 percent for affordable housing.
In March, the GST Council, headed by then Finance Minister Arun Jaitley and his state counterparts, had allowed real estate players to shift to 5 percent GST rate for residential units and 1 percent for affordable housing without the benefit of input tax credit (ITC) from April 1, 2019.
For the ongoing projects, builders were given the option to either continue in 12 percent GST slab with ITC (8 percent for affordable housing), or opt for 5 percent GST rate (1 percent for affordable housing) without ITC.Though the deadline to communicate the tax structure to the respective jurisdictional officers was to be made by May 20, the implementation had been slowed down due to ongoing elections.
It’s a downer. We were expecting the rates to remain at 5% slab. The changed rates will not just slow down the implementation of Housing for all initiative but will also accelerate the already spiraling bad loans in the debt riddled sector.”
We are still hopeful that the government will come with some measures of relaxation, especially for the customers who have already paid some part of their payment. The government must also either rollback the retrospective implementation of new tax slabs or provides a sunset period of at least a year so that finances of the home buyers are not impacted drastically.
In addition to the changed rates, the council had also decided that exempted goods procured by a builder under the new tax regime would not be counted within the 80 per cent limit set for procurement from registered dealers, which effectively curtailed the developers ability to avail the credit entailed on an additional tax of 18 per cent on value of exempt supplies.
With the onus of opting for new GST rates shifted to developer instead of the land owner, the move is expected to not just put undue pressure on developers but also on home buyers who will ultimately foot the bill under the new system. It’s highly unlikely that developers will stick to the old rates and this surge in additional taxes will eventually find its way to the buyer’s pocket.
“If immediate relief measures are not put in place, it will undo much of the success that we have achieved of late in housing sector, starting from RERA, Delhi LPP, infrastructure status and so on. Developers in the sector are already under severe resource crunch, as are home buyers. Such high taxation will not help anybody.
Jun 7, 2019 | Business
The global tuna market has witnessed steady growth in recent years on account of rapid urbanization, hectic lifestyles, associated health advantages, emerging demand for sushi and growing familiarity with other international food trends.
Request for a free sample copy of this report: https://www.imarcgroup.com/tuna-market/requestsample
According to the latest report by IMARC Group, titled “Tuna Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global tuna market size was US$ 11.59 Billion in 2018. Tuna refers to a saltwater fish which belongs to the Thunnini tribe and is commonly found in the temperate and subtropical waters of the Mediterranean Sea, the Black Sea and the Atlantic Ocean. It provides essential nutrients including vitamin B12, vitamin B6, niacin, proteins, omega-3 fatty acids and several minerals. It also offers numerous health benefits such as averting the skin and kidneys from developing infections, encouraging the development of muscles, and enhancing blood circulation and metabolism in the human body.
Market Trends:
Rapid urbanization in confluence with international food trends has altered the current food preferences and habits of consumers. For instance, the increasing popularity of sushi around the world has catalyzed the demand for tuna, especially in new markets such as the Middle East, Central Asia and Latin America. Moreover, as a result of hectic schedules of consumers, fresh tuna trade has been surpassed by the consistently increasing demand for canned tuna and other ready-to-eat and frozen variants. This can also be accredited to the extensive shelf-life and ease of transportation of these products over larger distances. In addition to this, the increasing production of processed tuna products is aiding in generating employment opportunities in the entire value chain including catching, processing and trade of tuna. Apart from this, with the growing environmental concerns, numerous companies are offering Marine Stewardship Council (MSC) certified tuna which is captured and processed using sustainable methods. By 2024, the market is projected to reach a value of US$ 14.4 Billion, expanding at a CAGR of 3.2% during 2019-2024.
Explore full report with table of contents: https://www.imarcgroup.com/tuna-market
Insights on Market Segmentation:
Market Breakup by Species:
1. Skipjack
2. Yellowfin
3. Albacore
4. Bigeye
5. Bluefin
Based on the species, the market has been classified into skipjack, yellowfin, albacore, bigeye and bluefin. Currently, skipjack represents one of the most popular tuna species as it is widely used in canned products worldwide.
Market Breakup by Product Type:
1. Canned
2. Frozen
3. Fresh
On the basis of the product types, the market has been divided into canned, frozen and fresh. At present, canned tuna accounts for the majority of the total market as the fresh variants are relatively expensive.
Production Breakup by Region:
1. Japan
2. Indonesia
3. Philippines
4. Taiwan P.C.
5. Republic of Korea
6. Spain
7. Others
Region-wise, Japan represents the largest consumer and third-largest producer of tuna around the world. Indonesia, Philippines, Taiwan P.C., Republic of Korea and Spain are the other key producers, while the USA and the Republic of Korea are the major consumers.
Competitive Landscape:
1. Market Structure
2. Key Players
3. Profiles of Key Players
The competitive landscape of the tuna industry has also been analyzed in the report along with comprehensive profiles of the leading companies.
Jun 7, 2019 | Business
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Jun 7, 2019 | Business
Newtown PA, 06-JUNE-2019 – Bobs Pet Stop Inc and certified dog trainer, Bob Staples, are pleased to announce that the company provides a quality trainer to improve behavior in puppies and adult dogs as well. It is important for training to begin early in order to gain the best results. Pets need guidance in order to understand what is expected of them. The Bucks County PA dog obedience training professional is experienced from many years of working with pets of all types and ages.
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Learn more about puppy training by going to the web pages at http://www.BobsPetStop.com today. Members of the press and those who have further questions regarding the information in this press release are encouraged to contact Bob Staples at the location described below.
Contact Person Name: Bob Staples, President
Company Name: Bobs Pet Stop Inc
Address: Newtown, PA
Contact Telephone Number: (215) 598-7776
Mobile Telephone Number: (267) 994-5390
Email: BobsPetStop@gmail.com
Website: http://www.BobsPetStop.com
Jun 7, 2019 | Finance
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