Post GST, one major announcement made by the government has been the launch of the Ahmedabad-Mumbai Bullet Train project. The GST and the Bullet Train both have generated immense public interest or public debate. This is so because of the many similarities they share especially in the complexity of their implementation. Both these ambitious projects require massive infrastructure, although of different kind. There is also a very huge amount of public money involved in both of these decisions.
Let’s assume the GST to be a Bullet Train. Then it is very clear that the government has already built this train and also built all the required tracks on which this train has to run. Infosys was awarded a Rs 1,380 crore contract to build GST Network (GSTN) system in Sept. 2015 that involved building and maintaining the technology network crucial for implementing the GST across the country for five years. By and large, the travel path of this train (i.e. starting point and the end point) has also been put in place. All the taxpayers, who qualify to be registered under the GST system, have to be the passengers of this bullet train. It is compulsory for them to catch this bullet train and travel the applicable distance without fail or face penal action for missing any ride. Continue reading Goods and Services Tax (GST) Vs. Bullet Train (Shinkansen)→
“Industry 4.0” is the new buzzword becoming very fashionable, and hence, considerably over used. The credit for coining this iconic word goes to Siemens at the Hanover Messe in 2015. Industry 4.0 – also termed as the 4th generation of the industrial revolution – marks the beginning of a new era. It essentially represents the digital transformation of traditional industries like manufacturing to intelligent factories with the advancements in automation, advanced materials, 3D printing, artificial intelligence, augmented reality, cobots (collaborative and robots). Adaptive and ergonomic production lines, intelligent robots and integrated energy systems – all parts of Industrial Internet of Things (IIoT) – are increasingly making it possible for companies, in practically every industrial and manufacturing sector, to digitize their operations. This digital transformation is enabling them to become 24×7 connected intelligent factories. The computerization of traditional industries, like manufacturing, i.e. their transition to intelligent factories, is going to be the key to their survival in a couple of years from now. Continue reading “Industry 4.0” is the New Buzzword For Factories of the Future→
Full text of PM Modi’s speech at the Textile India 2017 event is reproduced below:
Ladies and Gentlemen,
India is today described as a bright spot in the global economy. It has emerged as one of the most attractive global investment destinations. This has been made possible by a series of sustained policy initiatives.
A circular economy is one that keeps materials in use, at their highest value, for as long as
possible. It does so through products designed to be long lasting, easy to repair and recycle, and through systems that capture those products when they are no longer
wanted, either to sell them on to another user or recover their materials for another use.
Reuse is the most economically and environmentally beneficial strategy within a
circular economy. Finished products are worth much more than the raw materials they
are composed of and direct reuse preserves the most value and embodied energy. For
example, a reused iPhone retains around 48 per cent of its original value after two years,
whereas the value of the materials you can recover from it is just 0.24 per cent of its
original value. Continue reading What we mean by a circular economy?→
Shri Sudhir Halakhandi, a leading chartered accountant from Beawar, Rajasthan, has written an exhaustive ebook on the Goods and Services Tax (GST) introduced by the government from July 1, 2017. Shri Halakhandi has made available this ebook on his website free of charge for all businesspersons in the country who are finding it difficult to acquire the relevant information in an easy to understand format. Continue reading An E-Book On GST, in Hindi, By CA Sudhir Halakhandi→
GST – Goods and Services Tax – which will be a single destination based consumption tax – is all set to replace existing taxes, including CENVAT, Octroi, Sales Tax, and Excise Duty, etc. from July 1, 2017. According to the Empowered Committee of State Finance Ministers, constituted by the Government of India: “GST is a tax on goods and services with comprehensive and continuous chain of set-off benefits from the producer’s point and service provider’s point up to the retailer’s level. It is essentially a tax only on value addition at each stage, and a supplier at each stage is permitted to set-off, through a tax credit mechanism, the GST paid on the purchase of goods and services as available for set-off on the GST to be paid on the supply of goods and services. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.” Continue reading “The Ghost Of GST will be Set Free On July 1. Are You Ready?”→