Skip to main content

No job losses under GST : FinMin to CBEC

By
The finance ministry has assured Central Board of Excise and Customs(CBEC) officers that there will be no reduction of manpower under the new goods and services tax(GST)regime and the HR policy will be drafted after taking their views on board.

In a meeting with the ministry last week,central excise officers flagged their concerns about use of technology and transfer of any assessees of excise and service tax to states under the new framework, leading to surplus manpower.

“We flagged our concerns regarding surplus manpower and HR policy in the new regime.The board has assured us that there will be no man power reduction. Also they have asked us to send our comments on human resource, which will be looked in to for framing of the policy, ”Ravi Malik, secretary general,All India Association of Central Excise Gazetted Executive Officers, told PTI .

The association had earlier planned to hold dharn as on October14, but following the assurance from the board, it decided to shelve the plan.

“We have demanded that the .1 million service tax assessees under the Centre should continue to remain with the Centre in the GST regime.The board has said the final decision will be take ninthe next meeting of GST Council and we will decide on our future course of action after that,” Malik said.

The government plans to roll out GST from April 1, 2017.GST will subsume  excise, service taxes and other local levies.

The first meeting of the GST Council on September 22-23 had decided that the  Centre would continue to assess.1 million service tax filers in the new dispensation, to begin with.

Gradually, as states gain expertise, the new tax assessees will be shifted.

However, at the second meeting of the Council on September 30,some states disagreed with the arrangement.
 
The next meeting of the Councilon October 18-20 is like to take a call on the issue.

According to the initial plan, the association was to also hold lunch- hour dharnas on November 9,wear black badge in office on December 7, hold a day-long protest on January 5 and take mass casual leaves on the Budget day by all officers.

THE BUSINESS STANDARD
NEW DELHI, 17TH OCTOBER, 2016

Comments

Post a Comment

Popular posts from this blog

Household debt up, but India still lags emerging-market economies: RBI

By
  Although household debt in India is rising, driven by increased borrowing from the financial sector, it remains lower than in other emerging-market economies (EMEs), the Reserve Bank of India (RBI) said in its Financial Stability Report. It added that non-housing retail loans, largely taken for consumption, accounted for 55 per cent of total household debt.As of December 2024, India’s household debt-to-gross domestic product ratio stood at 41.9 per cent. “...Non-housing retail loans, which are mostly used for consumption purposes, formed 54.9 per cent of total household debt as of March 2025 and 25.7 per cent of disposable income as of March 2024. Moreover, the share of these loans has been growing consistently over the years, and their growth has outpaced that of both housing loans and agriculture and business loans,” the RBI said in its report.Housing loans, by contrast, made up 29 per cent of household debt, and their growth has remained steady. However, disaggregated data sho...
Post a Comment
Read more

External spillovers likely to hit India's financial system: RBI report

By
  While India’s growth remains insulated from global headwinds mainly due to buoyant domestic demand, the domestic financial system could, however, be impacted by external spillovers, the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report published on Monday.Furthermore, the rising global trade disputes and intensifying geopolitical hostilities could negatively impact the domestic growth outlook and reduce the demand for bank credit, which has decelerated sharply. “Moreover, it could also lead to increased risk aversion among investors and further corrections in domestic equity markets, which despite the recent correction, remain at the high end of their historical range,” the report said.It noted that there is some build-up of stress, primarily in financial markets, on account of global spillovers, which is reflected in the marginal rise in the financial system stress indicator, an indicator of the stress level in the financial system, compared to its p...
Post a Comment
Read more

Retail inflation cools to a six-year low of 2.82% in May on moderating food prices

By
  New Delhi: Retail inflation in India cooled to its lowest level in over six years in May, helped by a sharp moderation in food prices, according to provisional government data released Thursday.Consumer Price Index (CPI)-based inflation eased to 2.82% year-on-year, down from 3.16% in April and 4.8% in May last year, data from the Ministry of Statistics and Programme Implementation (MoSPI) showed. This marks the fourth consecutive month of sub-4% inflation, the longest such streak in at least five years.The data comes just days after the Reserve Bank of India’s (RBI) Monetary Policy Committee cut the repo rate by 50 basis points to 5.5%, its third straight cut and a cumulative reduction of 100 basis points since the easing cycle began in February. The move signals a possible pivot from inflation control to supporting growth.Food inflation came in at just 0.99% in May, down from 1.78% in April and a sharp decline from 8.69% a year ago.A Mint poll of 15 economists had projected CPI ...
Post a Comment
Read more