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02 News Saturday, September 9, 2017 Reaching out How space sellers should go about GST Vishal Shimla Selling of space for advertisement in print media falls under different GST slabs depending on the nature of the contract between a newspaper, agency and the client explained a spokesperson from the Government of India. He said that if the advertisement agency works on principal to principal basis, that is, buys space from the newspaper and sells such space for advertisement to clients on its own account, that is, as a principal, it would be liable to pay GST @5 percent on the full amount charged by advertisement agency from the client. The spokesman explained through example that 'If news paper sells a unit space of Rs 100/- to a advertisement agency for Rs 85/- (after trade discount of Rs 15/-), the advertisement agency sells the same unit of space to an advertiser for Rs 100/-, newspaper will be liable to pay GST @5% on Rs 85/- (=Rs 4.25/-), and the advertisement agency would be liable to pay GST on full amount Rs 100/- (=Rs 5/-) and may utilise ITC of 4.25/- for the payment of same.' He said that on the other hand if the advertisement agency sells space for a newspaper as an agent on commission basis , it would be liable to pay GST @18% on sales commission it receives from a newspaper. ITC of GST paid on such sale commission would be available to newspaper. As per new GST norms, it all depends on the contract between newspaper, agency and client Stating another case he said if 'advertisement agency sells unit space to advertiser, not on its account but on account of a newspaper for Rs 100/- and receives commission of Rs 15/- on sale from the newspaper. In such a case advertisement agency shall pay a GST @18%on sales commission of Rs 15/-(Rs 2.7/-), ITC shall be available to newspaper for payment of GST @5%on Rs 100/- (Value of space for advertisement sold by the newspaper) Adding that, if the advertisement agency supplies any service other than selling of space for advertisement, such as designing or drafting the advertisement, and such supply is not a part of any composite supply, the same would be liable to tax @18%. If such supplies are part of any composite supply, the rate applicable for the principal supply shall apply, he concluded. Top Dogs let down Gudia yet again Continued Page 1 She said that the state police has surpassed all levels of imorality. Such acts by police were heard of usually from bigger states like Uttar Pradesh, Bihar, etc, ,” she added. “ Women would have no doors to knock in case any crime takes place with them,” she stated. Adding that the fear has increased to that level now even the women teachers going to schools in villages nearby get afraid when a vehicles comes from behind of even somebody known. “What a paradox, in Haryana Ram Rahim Singh conviction episode, corrupt politicians and blind followers were trying to protect the culrpit, and here in ‘Devbhoomi’ the local police is playing that role,” pranked Mohinder. - August 29 CBI arrested 8 members of the SIT, for charges of custodial murder & destroying of evidence. The court ordered the team a 7 day remand . - September 4 CBI pleaded for increase in remand period due to recovery. Court extended remand till september 7. - September 6 Shimla Bar association suspended 8 advocates. (The advocates were pleading for the accused police personal). - September 7 CBI Court sends arrested policemen in Judicial custody till September 20. Members of SIT arrested by CBI including IG Z.H. Zaidi and DSP Manoj Joshi being produced before a local court in Shimla on September 4. Pic: Amit
IT matters Saturday, September 9, 2017 03 Taxing times for book keepers Our Correspondent Surat GST is about 54 days old and 107 notifications have been released to date. This delibrates that the implmentation of a well written law is being done without application of mind. This was stated by Chatered accountants association of Surat in a reprensenation given to the finance minister on August 25. In the letter they stated that the push button softwares and GSP (Goods & Services Suvidha Provider) advertized by the Ministry are But, Sir, as we all have families waiting to share our time (which is the real prosperity), instead of sharing our time on GSTN portal and no one shall compensate for loss of such time,” rued the accountants non-existent and even if there are some,they have started charging exorbitantly. “Deliberations relating to GST are being done since last 16 years by the GOI. Its Modus operandi was also very clear. Forms were also notified well in time. As stakeholders and financers of your IT Infrastructure cost, we want to know why online utilities are not made available to stakeholders on time,” questioned the represenation. They said that the world was witnessing a historical paradigm shift and with lapses like such a wrong message was going out to multinationals, whom the government is wanting to allure. They represented that there was an utter chaos in the industry, relating to record keeping right from the beginning as they were not given a window for adaptation to the software vendors as the law, on the basis of which software was to be coded was passed only a couple of weeks before its implementation. The API (Application Programming Interface) required by the GSPs was also not available.“ Hence we request your good office to consider moratorium of 6 months to adapt to the newly imposed requirements,” they requested further. Demanding a review straight away, they said that they were hopeful that GST would bring prosperity, transparency and growth to Indian economy. However, the implementation of GST currently has too many lapses which is taking toll of their time, which is non compensatory. “But, Sir, as we all have families waiting to share our time (which is the real prosperity), instead of sharing our time on GSTN portal and no one shall compensate for loss of such time,” rued the accountants. Mileage mania driving auto cos to loose weight Why we choose average over personal safety, question experts Jagmohan Shimla Increasing car avarages over the last 20 years have created a sheepish trend for car manufacturers in India. Average hatchbacks in india used to be 12 to 14 kmpl in 90s which has now increased to 24-25 kmpl or and even more. Commenly assumed fact that advancement in engines is adding to the increased average. However experts state that the truth might be different. They say that it is true some fuel efficiency can be increased by altering aerodynamics but not upto such a great deal. They say that the increase average is coming out of decrease in the kerb weight of the vehicles. Kerb weight means the weight of the vehicle without passengers,luggage and fuel. They state that companies have been constantly reducing the weight of the cars to improve on average. A good mileage is one key aspect of car selling strategy in India. This becomes one primary reason why car companies are going down on ‘Kerb weight’ and higher on mileage. Certain manufacturers have fallen from 1100kgs car to 800 kgs in their car weights. Logic seems simple lesser the weight the engine has to carry, more the mileage. Reduction of kerb weight is only possible by reducing on the amount of steel or alloys, which also means reducing strength and safety of the vehicle cage in case of impact. Companies justify that safety is taken care of by lighter yet stronger materials and alloys plus, better crumple zones but thats is only partial truth state experts. They say “better crumple zone designing is ok but with heavier gauge of the newer metal, won't it be safer still”. Simple logic but manufacturers ignore as it will increase cost and fuel consumption. Experts add that this will put these companies at disadvantage to competition, given the cut throat market positions of today.Consumers have been cleverly programmed to sheepishly mileage instead of safety (which is underplayed in third world countries unlike europe).Present and newer generation of cars are increasingly lighter. Their sheet metal is being compromised in the garb of so called "jet-materials and crumple zones", added experts. Adding that this is being cleverly covered up by deploying airbags to save passengers even when body shell fails to protect in a collision. It is not a rocket science to understand that in addition to the crumple zone u need good amounts of steel to absorb the impact of a truck hitting you head on as big momentum has to be absorbed. However not all manufactures are working on the theory of improving mileage, as some yet are increasingly making more efficient engines but without going over board to increase fuel efficiency by decreasing the amount of steel/alloys used. They say, next time you read that a car manufacturer is claiming wonder fuel efficiency do check the kerb weight too. Because as Warren Buffet says....price is what u pay, value is what u get.
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