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Showing posts from September, 2017

World Peace and the Mighty Dragon

The 72 days face-off finally ended on 28th August followed by an expeditious disengagement. The show of diplomacy by Narendra Modi not only saved India from a war with China, but in fact averted a mass level continental war for regional supremacy. This article will not look into how the conflict started, but what is going on in the head of the mighty dragon after the stand-off ended in rapid disengagement of troops alongside the border.
China has a desire to become the warden of the East i.e. Asia, but with its conflicting ideologies and hidden political motives China is always seen as a bully rather than as a leader or a friend. China claims territories of 23 countries, even though it only has borders with 14,the total area of China’s claims on other countries exceeds the size of modern China itself, but Beijing refuses to budge on its claims of historical precedents. China is being criticised for its thirst for dominance, power and aggressive expansion of its territory to gain contro…

Bird's eye view of the Modi Trump meeting on the 26th of June, 2017

The US has maintained its position as one of the strongest States in the world right now, economically as well as politically. India, on the other hand, while not the strongest, is on its way to becoming a strong economy. Indian policy makers focus on factors likely to affect the economy, on an internal as well as external level. Therefore, the last one year has seen an increasing importance being given to establishing diplomatic and trade ties with foreign states as well. This has helped the economy to improve by moving past its previous stagnancy.
India-US relations in the past: The India-US relationship has been one of cooperation. The Obama administration had been supportive and forthcoming towards trade with India. Cooperation in the field of military had been high with India being termed as a “major defence partner”. Therefore, the change in leadership raised many questions on the future of India-US relations. Despite multiple phone calls between the two leaders and a visit by th…

GST on Real Estate: How will it impact Home Buyers and the Industry?

GST on Real Estate: How will it impact Home Buyers and the Industry?
The GST Bill was approved in the Lok Sabha on March 29, 2017 with four supplementary legislations- The Central GST Bill, 2017; The Integrated GST Bill, 2017; The GST (Compensation to States) Bill, 2017; and The Union Territory GST Bill, 2017, will subsume central excise, service tax, VAT and other local levies to create a uniform market. GST is expected to boost GDP growth by about 2 per cent and check tax evasion. States will have to pass their State GST or SGST law that will allow them to levy sales tax after levies like VAT are subsumed.

Impact of GST on real estate The construction of a complex building, civil structure, or a part thereof, intended for sale to a buyer, wholly or partly, is subject to 12 per cent tax with full input tax credit (ITC), subject to no refund in case of overflow of ITC. In other words, residential construction services, will invite GST at the rate of 12 per cent, which will apply to devel…