Business News

GST to be rolled out as planned on July 1, announces Arun Jaitley, rates for hotels, lotteries fixed

The Associated Chambers of Commerce of India had asked the Finance Ministry to postpone the implementation of the new tax regime.

Finance Minister Arun Jaitley on Sunday announced that the official launch of the Goods and Services Tax would take place at midnight on June 30 as planned, while speaking at a function in New Delhi, reported ANI. At the press conference, Jaitley said that the country did not have the “luxury of time” to defer implementation of GST, and hence the GST council had decided to implement it from July 1.

The Associated Chambers of Commerce of India on Saturday had asked the Finance Ministry to postpone the implementation of the GST, just two days after the Civil Aviation Ministry asked for a postponement to September 1.

However, the government provided some relief to businesses for the first two months after the rollout. As per the revised return filing timeline decided by the GST Council, for July, the sale returns will have to be filed by September 5 instead of August 10. The returns for August can be filed by September 20 instead of September 10, Jaitley announced. But there will be no concession in the months thereafter.

Jaitley on Sunday said that state-run lotteries would be taxed at 12% of their face value, whereas private lotteries would be taxed at 28%. For hotel rooms costing between Rs 2,500 and Rs 7,500 per day, an 18% GST will be applicable. GST on restaurants in these hotels will be on a par with other air-conditioned restaurants. For hotel rooms costlier than Rs 7,500, a tax of 28% will be levied.

A week ago, the GST Council had reduced tax rates for 66 items including movie tickets costing Rs 100 and below, incense sticks, insulin, school bags and computer printers.

The GST will introduce a single tax on supply of goods and services. The four tax slabs fixed by the Council are 5%, 12%, 18% and 28%.

We welcome your comments at letters@scroll.in.
Sponsored Content BY 

The pioneering technologies that will govern the future of television

Home entertainment systems are set to get even more immersive.

Immersive experience is the core idea that ties together the next generation of cinematic technologies. Cutting edge technologies are now getting integrated into today’s home entertainment systems and challenging the limits of cinematic immersion previously achievable in a home setting. Here’s what you should know about the next generation of TVs that will grace your home.

OLED Technology – the new visual innovation in TVs

From the humble, grainy pictures of cathode ray tube TVs to the relatively clarity of LED and LCD displays, TVs have come a long way in improving picture quality over the years. The logical next step in this evolution is OLED displays, a technology that some of the best smartphones have adopted. While LED and LCD TVs make use of a backlight to illuminate their pixels, in OLED displays the pixels themselves emit light. To showcase darkest shades in a scene, the relevant OLED pixels simply don’t light up, creating a shade darker than has ever been possible on backlighted display. This pixel-by-pixel control of brightness across the screen produces an incomparable contrast, making each colour and shade stand out clearly. OLED displays show a contrast ratio considerably higher than that of LED and LCD displays. An OLED display would realise its full potential when supplemented with HDR, which is crucial for highlighting rich gradient and more visual details. The OLED-HDR combo is particularly advantageous as video content is increasingly being produced in the HDR format.

Dolby Atmos – the sound system for an immersive experience

A home entertainment system equipped with a great acoustic system can really augment your viewing experience far beyond what you’re used to. An exciting new development in acoustics is the Dolby Atmos technology, which can direct sound in 3D space. With dialogue, music and background score moving all around and even above you, you’ll feel like you’re inside the action! The clarity and depth of Dolby Atmos lends a sense of richness to even the quieter scenes.

The complete package

OLED technology provides an additional aesthetic benefit. As the backlight is done away with completely, the TV gets even more sleek, so you can immerse yourself even more completely in an intense scene.

LG OLED TV 4K is the perfect example of how the marriage of these technologies can catapult your cinematic experience to another level. It brings the latest visual innovations together to the screen – OLED, 4K and Active HDR with Dolby Vision. Be assured of intense highlights, vivid colours and deeper blacks. It also comes with Dolby Atmos and object-based sound for a smoother 360° surround sound experience.

The LG OLED TV’s smart webOS lets you fully personalise your TV by letting you save your most watched channels and content apps. Missed a detail? Use the Magic Zoom feature to zoom in on the tiniest details of your favourite programs. You can now watch TV shows and movies shot in 4K resolution (Narcos, Mad Max: Fury Road, House of cards and more!) as they were meant to be watched, in all their detailed, heart-thumping glory. And as 4K resolution and Dolby Atmos increasingly become the preferred standard in filmmaking, TVs like LG OLED TV that support these technologies are becoming the future cinephiles can look forward to. Watch the video below for a glimpse of the grandeur of LG OLED TV.

Play

To know more about what makes LG OLED TV the “King Of TV”, click here.

This article was produced by the Scroll marketing team on behalf of LG and not by the Scroll editorial team.