State Bank of India (SBI) has fixed loaning terms drastically for auto vendors, as indicated by a source and an inward notice seen by Reuters, trying to decrease its introduction to hazard from a part amidst a sharp downturn. State Bank of India (SBI) has fixed loaning terms drastically for auto vendors, as indicated by a source and an inward notice seen by Reuters, trying to decrease its introduction to hazard from a part amidst a sharp downturn.
The shadow banking emergency that started to unfurl in India during mid-2018 has developed for the current year. The liquidity mash in non-bank financing, higher protection expenses and ascends in tax assessment have served to press the vehicle area, with month to month auto deals falling by 17-20% since April. Month to month traveler vehicle deals in June fell by the greatest edge in 18 years. In one inward notice for financing vendors selling vehicles made by Hyundai Motor Co's India unit, SBI said it is overhauling the loaning terms as a result of "developing worry" in the carmaker's portfolio. Comparable updates have been sent to vendors for every other brand, said a senior SBI official mindful of the issue, however Reuters has not seen reminders identifying with different carmakers.
The evolution to GST or Goods and Services Tax Enrolment has commenced in India, with prevailing VAT and service tax registration holders being assigned GST or Goods and Services Tax Registration number to standardize the two major indirect tax codes. In this article, we look at the meaning behind a GST or Goods and Services Tax registration number.
GST or Goods and Services Tax Registration number is a 15 digit identification that is assigned to each taxpayer based on PAN number and State of the applicant. In GST or Goods and Services Tax registration number, the first two digits represents the State Code, followed by the next 10 digits indicating the PAN of the applicant, one digit signifying entity code, one digit is left blank and the last digit is a check sum digit.
GST, an acronym for Goods and Services Tax, is the latest buzz in the Indian economic scenario courtesy of it coming into play from 1st July, 2017 onward. As a form of taxation GST or Goods and Services Tax is employed by more than 150 countries the world over, the honour of being the first belonging to France and that of being the most recent going to Malaysia. Whether or not this system of unified taxation will work in the world’s largest democracy, namely India, is something that will become apparent only after it has been implemented for at least six months at a stretch.
At HDFC, we understand the amount of hard work you have put in and the number of hardships and challenges you may have had to defy on your way to be able to reach so far in life. Now it's time to create your own house, a warm little corner in the world that is yours, tailored by your tastes and needs. There is no place like 'home' and with HDFC Reach Home Loans you can gather hopes, achieve your dreams and create memories in your own space.
Ministry of Housing and Urban Poverty Alleviation (MoHUPA) has initiated in June 2015, an interest subsidy scheme called Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (URBAN) - Housing for All, for purchase/construction/extension/improvement of house to cater Economical Weaker Section(EWS) / Lower Income Group (LIG) / Middle Income Group (MIG), given the anticipated evolution of urbanization & the ensuing housing demands in India.
The beneficiary family will encompass husband, wife and unmarried children. (An adult earning member regardless of marital status can be treated as a independent household in MIG category)
All statutory towns as per Census 2011 and towns’ notified subsequently, including planning area as notified with respect to statutory town.
India progressed a step closer towards executing the Goods and Services Tax (GST) after the centre and the states hit a consensus on the rates and structure of the aspiring tax reform. However, the second and final day of the fourth Goods and Services Tax (GST) council convention on Friday is likely to be prickly, with both sides set to debate the sharing of administrative powers under the new tax regime.
The Goods and Services Tax (GST) has been one of the key things that has grasped the attentiveness of the market given its repercussions on earnings of companies. The government has kept a hefty number of articles under 18% tax slab. The government classified 1211 items under diverse tax slabs.
Here is the comprehensive item wise list of Goods and Services Tax (GST) Slabs 2017.
Goods : No tax will be imposed on items like Jute, fresh meat, fish chicken, eggs, milk, butter milk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, prasad, salt, bindi. Sindoor, stamps, judicial papers, printed books, newspapers, bangles, handloom, etc.
Services : Hotels and lodges with tariff below Rs 1,000, Grandfathering service has been exempted under GST.
The PAN card is a unique identifying card with a number for taxpayers in India. The Permanent Account Number – PAN - is actually a number which will identify you to the Income-tax Authority. A computer system assigns the PAN to all Indian tax payers whether you are an individual or a company. All your tax-paying information is stored under your PAN and can be retrieved at any time using this unique number. This PAN is available to every citizen in India. A PAN is allotted to each individual or company and there is no duplication.
The Pan can be compared to the Social Security Number or SSN in the USA. The SSN is allotted to every legal resident of the USA whether citizen or not. It was chiefly used to identify people for social security benefits but today the nine-digit SSN is used in tax processes also.
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As you would be aware, a self-propagating ransomware (WannaCry) outbreak has disrupted several organizations globally. We hope the IT systems implemented at your end are safe and secure against this and such threats, and the required mitigating steps would have been taken in this regards by your organization.
Towards the same, kindly refer the enclosed advisory issued by the Reserve Bank of India, Cyber Security and Information Technology Examination (CSITE) cell on May 13, 2017 vide advisory no. 8/2017. The advisory refers to an Indian Computer Emergency Response Team (CERT-In) issued advisory CIAD20170024 dated May 13, 2017, which elaborates the details about the subjected ransomware and the recommended preventive measures. The advisory also refers the CERT-In vulnerability note CIVN20170032 issued on March 15, 2017. This note details the Microsoft vulnerability which is getting exploited by this ransomware. Enclosed herewith are all the above mentioned three advisory notes for your reference and required action.
Some of the key mitigation steps which we would recommend implementing on priority are enumerated below:
The same has also been published on the Cyber Swachhta Kendra website: http://www.cyberswachhtakendra.gov.in/alerts/wannacry_ransomware.html
Home loans are planned long term loans availed by various customer segments in India. It is preferred by both individuals and business users. Home loans are important but can be tricky if proper planning and adherence of the same is not taken into account. Henceforth it is important to understand the process of seeking a home loan and following the same in a step-by-step manner.
Banks generally carry a Residence, Office and CIBIL verification during home loan process.
As a part of technical valuation, Bank will appoint a valuer who will assess the fair market value of the property so that appropriate loan amount can be disbursed against the property.
Some Important points to understand here:
So Go Grab your home Loan today only.