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Big decisions by Modi government: Details Here

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The GST Council on Saturday decided to slash rates of several Covid-relief items to 5% from existing 12 to 18% levels but kept the much-anticipated tax rate on vaccines unchanged at 5%.

Addressing the media, post the GST Council meeting, Finance Minister Nirmala Sitharaman said that the council agreed to go with the recommendations of the Group of Ministers (GoM) that was single point agenda on the council. It further agreed to stick to a 5% GST rate on the COVID-19 vaccine. There will be no change in the GST rate for vaccines, said Finance Minister Nirmala Sitharaman.

The GST Council has also decided to slash rates for Tociluzumab, Amphotericin to nil level. Besides that, the Council also gave approval to GST rate reduction for Remdesivir from 12% to 5%. The GST on ambulances has been reduced to 12%.

No GST would be levied on Amphotericin B, the antifungal drug used for black fungus treatment, Nirmala Sitharaman said following the 44th GST Council Meeting.

“GST on electric furnaces and temperature checking equipment brought down to 5% and on ambulances to 12%. These rates will be valid till September as against August end recommended by the GoM,” Finance Minister Nirmala Sitharaman said on the outcome of the 44th GST Council meeting.

The special duty cuts would be applicable till September 30, 2021.

Sitharaman said that though the GoM recommended the rate cuts till August, the council decided to keep it till September end and later decide if further extension was required.

In another major move, the GST rate on ambulances has been reduced to 12% from the previous 28%.

 

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ATM charges, Salary, pension, EMI payment rules to change from August 1

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Tomorrow is August 1 and there will be certain changes in the banking transactions from next month. These modifications include that your salary will be credited on Sundays and gazetted holidays. The apex bank, Reserve Bank of India (RBI) has recently announced that the National Automated Clearing House (NACH) will remain functional all days of the week from August 1, 2021.

Operated by the National Payments Corporation of India, NACH helps in facilitating credit transfers such as payment of dividends, interest, salary and pension. It also facilitates the collection of payments pertaining to electricity, gas, telephone, instalments towards loans, investments in mutual funds and insurance premium.

Currently, this facility of crediting salary is operational on working days of banks and therefore, the auto-debits are not allowed on bank holidays, gazetted holidays and even Sundays. “In order to further enhance customer convenience, and to leverage the 24×7 availability of real-time gross settlement (RTGS), NACH which is currently available on bank working days, is proposed to be made available on all days of the week effective from August 1, 2021,” RBI governor Shaktikanta Das had said.

This is aimed at reducing the duration of salary processing which includes salary credits, bill payments, insurance premiums and loan EMIs. Earlier, it was delayed due to bank holidays and this auto-transfer facility has helped the transfer of government subsidies during the present COVID-19 in a timely and transparent manner, RBI said.

Recently, RBI Governor Shaktikanta Das had announced several key financial, economic measures amid the pandemic. Among other measures, he had announced 24×7 availability of RTGS and NACH from August 1, 2021.

 

 

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Got 1 rupee Indian coin? Here’s how it will make you a crorepati

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A 1 rupee Indian coin lying idle in your collection box could pave the way for you to earn crores of rupees just from the comfort of your home, provided you ensure that currency in your possession matches certain criteria. You could earn nearly Rs 10 crore by selling it online. For selling notes and currency of collection you can visit websites that deal with them with a very high premium.

Actually, the coin of Rs 1 that we have mentioned above was auctioned for Rs 10 crore. But this coin is not an ordinary coin. The coin that has been auctioned at such a high premium was printed during British rule and was printed in 1885. Incase you are in possession of such a coin, you too could get Rs 10 crore for it on the online auction.

There are several websites that deal in auctioning of such rare coins. To auction these old coins, you can also visit OLX. You will need to create your login ID and auction your coin. Additionally, you can also auction coins by creating your ID on indiamart.com. You will have to share the photo of your coin for the auction.

Several people are into buying antique goods while several coin collectors are also out there who would go to any length to acquire rare coins.

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Big news for Aadhaar card holders! Now get mobile number updated at your door step

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In what could come as a major relief for Aadhaar card holders, updating their mobile numbers on the 12 digit Unique Identification card is now available at their doorsteps.

Individuals can now update mobile numbers on their Aadhaar cards at their doorstep with the help of a postman. India Post Payments Bank and Unique Identification Authority of India under an arrangement will allow postmen to update mobile numbers of Aadhaar cardholders. The service will be available through a network of 650 India Post Payments Bank, 1.46 lakh postmen and Gramin Dak Sevaks (GDS).

At present, IPPB is only providing mobile update service and will very soon also enable child enrolment service through its network.

Meanwhile, Aadhaar issuing body Unique Identification Authority of India (UIDAI) had a couple of months ago listed out 4 important charges for Aadhaar Services in its fresh tweet.

“New Aadhaar Enrolment and MBU (at 5&15 yrs) are free. Charges for updating Aadhaar are fixed: ₹50 for demographic update & ₹100 for biometric update (with/without demographic update). Call 1947 or write to us at [email protected] if you are asked to pay extra,” UIDAI has tweeted.

Aadhaar Enrolment charges: Free

Mandatory Biometric Update with or without Demographic update: Free

Demographic update (Name, Address, Date of Birth, Gender, Mobile Number, E-mail): Rs 50

Biometric update with or without Demographic update: Rs 100

Other than the above you can also order for Aadhaar PVC Card. It can be ordered online through uidai.gov.in or resident.uidai.gov.in using Aadhaar number, Virtual ID or Enrolment ID. Users can do so by paying a nominal charge of Rs 50. Aadhaar PVC Card is delivered to the resident’s address by speed post.

 

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Covid-19 Stats

01 Aug 2021, 1:50 AM (GMT)

Coronavirus Stats

31,654,584 Total Cases
424,384 Death Cases
30,812,873 Recovered Cases

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