Govts Expensive Mistake
And tells why the Govt isnt using proactive monitoring or big data to identify problems.
India's current account deficit is now at 4 yr high at $14.3 Billion as gold imports totally surged in july and august due to a gst loophole.The government charges a 10% import duty on gold, but this does not apply to countries with which it has Free Trade Agreements (FTAs), such as South Korea. However, to prevent duty-free imports from those countries, it had previously levied a 12.5% countervailing duty, which got inadvertently scrapped when GST was introduced on July 1. Gold importers took advantage of this and placed huge orders with exporters in South Korea without paying any tax. This has been corrected aug 25th
India's current account deficit is now at 4 yr high at $14.3 Billion as gold imports totally surged in july and august due to a gst loophole.The government charges a 10% import duty on gold, but this does not apply to countries with which it has Free Trade Agreements (FTAs), such as South Korea. However, to prevent duty-free imports from those countries, it had previously levied a 12.5% countervailing duty, which got inadvertently scrapped when GST was introduced on July 1. Gold importers took advantage of this and placed huge orders with exporters in South Korea without paying any tax. This has been corrected aug 25th
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Oct 31
Sorry that should read that these are NOT useless articles. If you remember , in the 1970's , silver was exported from India . This was sourced primarily from the silver ornaments sold by villagers since precious metals also served the purpose of a buffer against URGENT need of families. The major part of Their imports is in their industrial usage.
Sep 18
Gold is an essential part of Indian culture wheather rich or poor ( for poor it is silver ). The genesis of this in two factors : Pooja utensils and later anglicised articles ) AND , in olden days , a share of the joint Hindu family assets to ladies at the time of marriage. Thus I don't feel the these are useless articles as they form part of our tradition
Sep 18
This could be a planned event to benefit somebody.will be rectified after authorizing "CORRIGENDUM"
Sep 18
It is a caution simply for future growth. Sent from my BlackBerry 10 smartphone. From: Vishal KhannaSent: सà¥à¤®à¤µà¤¾à¤°, 2017 सà¥à¤ªà¥à¤à¥à¤à¤¬à¤° 18 10:41 म.पà¥.To: dbanand06@gmail.comReply To: www.send_newpost++iybbfdfdlkaeae++trfdaebbaetr@localcirclesmail.comSubject: "Govts Expensive Mistake"
Sep 18
