Invest Right to Earn

GST:  If you are a manufacturer you have to pay taxes on goods to both the centre and state for example,  Excise duty to the Centre, Value Added Tax to the state. If you are selling outside the state, you will have to pay octroi and sales tax to the state and central sales tax to the Centre. You will have to file returns for all transactions you make and the taxes you pay or are due to pay All participants in the value chain — manufacturer, wholesaler and retailer – are taxed. And each one will have to have a department to collect and pay tax, and file returns to several departments in the Centre and the states. The states and the Centre have to operate several departments to collect the taxes, each of them with different rules and regulations. GST simplifies all of this. Under GST, you only make two payments if you are selling in the state, one to the Centre – CGST – and one to the state – SGST. If you are selling outside the state, you have to pay Interstate GST to...

Currently, the manufacturing sector in India contributes over 15 per cent of the GDP. The Government of India, under the Make in India initiative, is trying to give boost to the contribution made by the manufacturing sector and aims to take it up to 25 per cent of the GDP. Following the government’s initiatives several plans for investment have been undertaken which are as follows: The Government of India has certified 20 private organisations as incubators under the Startup India Action Plan, which is expected to promote entrepreneurship, provide pre-incubation training and a seed fund for high growth start-ups in the country. The Government of India aims to improve its ease of doing business ranking from 130 at present to within the top 100 by 2016 and the top 50 by 2017, based on reforms undertaken in areas like construction permits, enforcing contracts and starting business, especially by top cities such as Mumbai and Delhi. The Government of India has successfully completed ...