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Some thoughts

Point 1: When an employee resigns from the company, he has to give minimum 30 days of notice (and in some roles, even more) and during this period he has to complete the pending tasks, do Knowledge Transfer (KT) and handover the charge.

But for the so-called high-profile job ‘Governor of RBI’, he resigns and walks away without giving even 30 minutes notice! Is this job a hollow and dummy post?

Point 2: Just two years back, we used to get at least 3 messages every day to link Aadhar to phones and bank accounts. The messages were so harsh and threatening us that if linking is not done, the services will be disabled or disrupted. Basically, it was a torture and penalty for not linking Aadhar.

Two days back I read in the newspaper that if any service provider like bank or phone company insists to link Aadhar, they will be fined with Rs.1 Crore and a jail term up to 8 years! Basically, there is a penalty for linking Aadhar!

Point 3: Three years back, the government insisted through extensive TV coverage, newspaper ads and mobile messages that the bank account details are to be linked to Gas Consumer number. If this link is not established, the subsidy on gas supply will not be passed on to the consumers. The reason cited was that the Direct benefit transfer is the only solution.

Two days back, I read that from the coming month, the old system of direct subsidy on the cylinder is offered and you pay less when you buy the cylinder. The reasons cited are that the direct benefit transfer is not the right choice.

Point 4: The government announces every day that India is the destination for startups. The Startup ecosystem offers several benefits to the entrepreneurs.  “We help startups” is the mantra of the government.

But the ground reality is different. The startups who have got (with great difficulty) funds from private sources, angels, and others are taxed as Income. Yes, the share premium is considered as Income (It is absurd) and taxed. Not just that, equal amount of taxes is collected as penalty!  Actually, we help startups by levying taxes and penalty is the realty.

Point 5: Government says Make in India and Invest in India. India is a young economy with 65% people aged less than 35 years. So, we need jobs and tell the world to do business in India.

When the overseas companies come to India or outsource the work (say, US or UK, by depriving the jobs to locals there), GST department asks them to pay GST at 18% for the business they have done with their parent company! GST department (through their cynical and cruel way of reading the Act torture the business community)

Point 6: The Government says 99% of the goods are brought under 18% GST.

But the point what is missing is that TWO GOODS which is not in this bracket are PETROL AND DIESEL. They are still with 50%+ VAT, Cess ,etc. So, instead of bringing 99% of the goods in 18% bracket, if only 2 goods, i.e., petrol and diesel are brought in this category, it will ease the life of common man.

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About CA Prasad Chartered Accountant

CA Prasad Chartered Accountant
CA Prasad is a practicing Chartered Accountant and partner in Bangalore -based CA Firm. For further information or query, please email it to [email protected]