For students looking for Finance Mentor/Guide

Hello guys,

For all those newbies to finance, here is something for you. Recently, I stumbled upon this website called myfinmentor.org. This is a online platform with an aim to assist finance graduates in making good career decisions. Through this platform, they intend to bridge the industry-academia gap. They have several industry professionals (mentors) on board who provide one-on-one mentoring sessions, pass info about various job opportunities in their respective companies, give a flavour of their profiles and a lot more to prospective candidates (mentees).

 

Think, This can be useful to you in case you plan to pursue a career in finance. This could help you not only understand career /profiles better but would bring you closer to right people and help build a relevant network. All of their services are completely free and it’s a not for profit organization. Do have a look at the website whenever you have time and visit their facebook page too.

 

Website – www.myfinmentor.org

 

Page – www.facebook.com/myfinmentor

Is GST Tax beneficial for you?

Goods and Service Tax is an Indirect Tax planning to be implemented by the government next year in India. Now what is an Indirect Tax? Indirect Tax is a tax which we pay on every goods and services and Manufacturer /Service providers get it paid from us- The Consumers! We pay the Tax on food we eat from restaurants, entertainment tax for movies in Theatres, on our mobile bills, tours, and so on and so forth.  Similarly Manufacturers pay Central and State Sales Tax on the good Manufactured and also on the Goods sold. These taxes are again recovered from us.

Goods and Services Tax (GST) will replace all these indirect taxes. It is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. Well this plan is proposed since 2009 but yet been worked upon to be implemented. At this crucial time when India is looking for ways to increase funds it is believed GST will help improve tax collection and also simplify it reducing the possibility of corruption. In the long run consumers may get cheaper products as taxes won’t be levied at every stage of manufacture to sales. It will promote exports.

GST will replace octroi, Central Sales Tax, State-level sales tax, entry tax, stamp duty, telecom licence fees, turnover tax, tax on consumption or sale of electricity, taxes on transportation of goods and services, etc, thus avoiding multiple layers of taxation that currently exist in India.

It is quite relieving to know that these many taxes would be removed. But the tax range of these taxes mostly did not exceed 12.5% and the new GST might have a fixed range of 16%-18% as proposed by the finance minister. So how much the tax payers are going to be convinced on this new tax reform and also how much it will benefit us time will say and also when the actual details of this system is announced!

For more information and updates on GST visit  http://gstindia.com/

D.V.P