1. A
0.5 per cent "Krishi Kalyan" or farmer development cess will be
levied on all services from today. This means that you will pay 15 per cent
service tax rather than 14.5 per cent. So watching movies, dining out, travelling,
making phones calls and buying insurance and property will be costlier.
2. Train
tickets for AC class will also become costlier as the "Krishi Kalyan"
cess will levied purchase of these. Service tax is not applied to non-AC class
travel in trains.
3. Petrol
prices have been hiked by Rs 2.58 a litre and diesel by Rs 2.26 as part of
fortnightly revisions by oil marketing companies in the wake of increase in
global oil rates. After the price revision, petrol will cost Rs 65.60 per
litre in Delhi and diesel Rs 53.93/litre.
4. The
price of non-subsidized LPG cylinders has also been hiked by Rs 21 and will now
cost Rs 548.50 in New Delhi after the price revision.
5. The
price of aviation turbine fuel was today sharply hiked by 9.2 per cent. Jet
fuel accounts for nearly half of the operating expenses of airlines in India
and will impact ticket prices.
6. A
luxury tax of 1 per cent will be levied from today on cars that cost over Rs 10
lakh. This extra tax will be collected by the seller of the car and will be
applicable on the ex-showroom price. However, this extra payment can be set off
against the total tax liability of the buyer.
7. Payment
in cash for goods and services worth more than Rs 2 lakh will attract a 1 per
cent tax collected at source from today. Finance Minister Arun Jaitley
had in this year's Budget had imposed the tax to discourage high-value
transactions in cash.
8. However,
for cash purchase of gold jewellery, the limit of Rs 2 lakh will not apply. It
stays at Rs 5 lakh.
9. For
stock market traders, sale of options will also attract an increased securities
transaction tax (STT) of 0.05 per cent. Earlier, the rate was 0.017 per cent.
Options are contracts that give the buyer the right, but not the
obligation, to buy or sell a security or other financial asset at an
agreed-upon price during a certain period of time.
10. The
Congress has slammed the government for the price hikes. "Everything is
expensive now. Is this achhe din? The government has burdened the
common people," said Congress spokesperson Randeep Surjewala.
Contact us
Here:
PRAGMATIC WEALTH MANAGEMENT PVT. LTD.
Head Office:
102, 1st Floor, Topaz Society,
Dr. Nair Road, Agripada, Mumbai Central
(E), Mumbai 400011
Tel: +91-8108178683
E-mail: contact@pragmaticwealth.net
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