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100%;color: #000000;font-family: Verdana, Geneva, sans-serif;font-size: 12px;line-height: 150%;text-align: left;"> <div style="text-align: right;"><font color="#000000" face="verdana, geneva, sans-serif"><span itemprop="datePublished" content="2016-01-05" style="font-size:12px">5 January 2016</span></font></div> </td> </tr> </tbody></table> </td> </tr> </tbody> </table><table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnBoxedTextBlock" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <table align="center" border="0" cellspacing="0" cellpadding="0" width="100%"> <![endif] --> <tbody class="mcnBoxedTextBlockOuter"> <tr> <td valign="top" class="mcnBoxedTextBlockInner" style="mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <td align="center" valign="top" "> <![endif] --> <table align="left" border="0" cellpadding="0" cellspacing="0" width="100%" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" class="mcnBoxedTextContentContainer"> <tbody><tr> <td style="padding-top: 9px;padding-left: 18px;padding-bottom: 9px;padding-right: 18px;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <table border="0" cellpadding="18" cellspacing="0" class="mcnTextContentContainer" width="100%" style="min-width: 100% !important;border: 1px outset;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <tbody><tr> <td valign="top" class="mcnTextContent" style="color: #000000;font-family: Verdana, Geneva, sans-serif;font-size: 12px;font-style: normal;font-weight: normal;line-height: 150%;text-align: left;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><a href="http://timesofindia.indiatimes.com/business/india-business/Relief-for-retailers-GST-may-consider-discounts/articleshow/50445461.cms" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #1598d5;font-weight: bold;text-decoration: none;"><strong><span style="font-size:14px">Relief for retailers: GST may consider discounts</span></strong></a><br/> The draft model GST Act, which is undergoing some final touches by the government, is likely to alleviate a major concern of retailers as the proposed GST will be paid on the actual supply price and will factor in discounts given to customers. Under the revised version of the draft model GST Act, it is likely that the reference to </span></span><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">imposing</span></span><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"> GST on maximum retail price (MRP) on supply to consumers, where the goods were governed by the Legal Metrology Act, will be removed.<br/> <br/> <span style="font-size:11px">Source: The Times of India dated 5 January 2016</span></span></span> <hr/><br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><a href="http://www.financialexpress.com/article/economy/gst-bill-opposition-should-back-pro-development-govt-says-mukhtar-abbas-naqvi/187204/" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #1598d5;font-weight: bold;text-decoration: none;"><strong><span style="font-size:14px">GST Bill: Opposition should back pro-development government, says Mukhtar Abbas Naqvi</span></strong></a><br/> Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi accused the Congress of not cooperating with the passage of the GST Bill in the Winter Session of Parliament because of their ego and expressed hope that the opposition cooperates with the government so that the development of the nation is not stalled.<br/> <br/> <span style="font-size:11px">Source: The Financial Express dated 3 January 2016</span></span></span> <hr/><br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><a href="http://www.business-standard.com/article/economy-policy/govt-ready-for-special-house-session-to-pass-gst-venkaiah-naidu-116010200534_1.html" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #1598d5;font-weight: bold;text-decoration: none;"><strong><span style="font-size:14px">Government ready for special House session to pass GST: Venkaiah Naidu</span></strong></a><br/> Union Minister for Urban Development and Parliamentary Affairs Venkaiah Naidu said that the government is ready to hold a special session of the Parliament to pass the GST Bill and walk the extra mile to take the opposition on board to build a new resurgent India. He also said that the passage of GST Bill during the coming Budget session can be the first positive assertion of this collective will for building a new India.<br/> <br/> <span style="font-size:11px">Source: Business Standard dated 2 January 2016</span></span></span> <hr/><br/> <span style="font-family:verdana,geneva,sans-serif"><strong><span style="font-size:14px"><a href="http://economictimes.indiatimes.com/opinion/interviews/we-are-fully-ready-to-launch-gst-hasmukh-adhia-revenue-secretary/articleshow/50401131.cms" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #1598d5;font-weight: bold;text-decoration: none;">We are fully ready to launch GST: Hasmukh Adhia, Revenue Secretary</a></span></strong></span><br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">We are fully ready to launch GST. The steps to GST are very clearly laid out. Once the Constitutional Amendment Bill is passed, it will have to be ratified by 50% of the states after which the Presidential assent can be obtained. The draft GST Bill is being given a final touch and it would be put in the public domain as early as possible. However, it can be presented to the Parliament and the state assemblies only after the Constitutional Amendment Bill gets the Presidential assent. In the meantime, a massive training of the Central and state government officials is going on.<br/> <br/> <span style="font-size:11px">Source: The Economic Times dated 1 January 2016</span></span></span> <hr/><br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><a href="http://economictimes.indiatimes.com/news/economy/policy/shrinking-congress-strength-in-rajya-sabha-will-make-gst-happen-arun-jaitley/articleshow/50383359.cms" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #1598d5;font-weight: bold;text-decoration: none;"><strong><span style="font-size:14px">Shrinking Congress strength in Rajya Sabha will make GST happen: Arun Jaitley</span></strong></a><br/> Finance Minister Arun Jaitley said GST will be implemented because the strength of the main opposition party is  shrinking in the Rajya Sabha, hitting out at the Congress party's stand on the much-awaited reform. Speaking to reporters as the year draws to an end, Jaitley said the global economy, </span><span style="font-family:verdana,geneva,sans-serif">agriculture,</span><span style="font-family:verdana,geneva,sans-serif"> and tepid private investment continued to be a drag on the Indian economy.<br/> <br/> <span style="font-size:11px">Source: The Economic Times dated 30 December 2015</span></span></span> <hr/><br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif"><a href="http://www.moneycontrol.com/news/current-affairs/will-support-gst-if-bengal-govt-interests-protected-amit-mitra_4790341.html" style="word-wrap: break-word;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;color: #1598d5;font-weight: bold;text-decoration: none;"><strong><span style="font-size:14px">Will support GST if Bengal government's interests protected: Amit Mitra</span></strong></a><br/> Trinamool Congress (TMC) will support the GST Bill if the state government's interests are protected, says West Bengal Finance Minister Amit Mitra. He says TMC's manifesto had proposed a single tax system reflecting the government's support for GST back in 2009.<br/> <br/> <span style="font-size:11px">Source: Moneycontrol dated 30 December 2015</span></span></span> <hr/><br/> <span style="color:#1598D5"><strong><span style="font-size:14px"><span style="font-family:verdana,geneva,sans-serif">Did you know?</span></span></strong></span><br/> <span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Countries working towards a VAT/GST system:</span></span> <ol style="font-size: 12px"> <li style="-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Afghanistan, Bahamas, Bhutan, Kiribati, Marshall Islands, Micronesia, Palau, Sao Tome and Principe, Syria</span></span></li> <li style="-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">Gulf Cooperation Council (Bahrain, Kuwait, Qatar, Saudi Arabia, Oman and the United Arab Emirates)</span></span></li> <li style="-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"><span style="font-size:12px"><span style="font-family:verdana,geneva,sans-serif">China and India to have a uniformed GST system</span></span></li> </ol> </td> </tr> </tbody></table> </td> </tr> </tbody></table> <!-- [if gte mso 9]> </td> <![endif] --> <!-- [if gte mso 9]> </tr> </table> <![endif] --> </td> </tr> </tbody> </table><table border="0" cellpadding="0" cellspacing="0" width="100%" class="mcnBoxedTextBlock" style="min-width: 100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;"> <!-- [if gte mso 9]> <table align="center" border="0" cellspacing="0" cellpadding="0" width="100%"> <![endif] --> <tbody class="mcnBoxedTextBlockOuter"> <tr> <td valign="top" class="mcnBoxedTextBlockInner" style="mso-table-lspace: 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