RESOLVING GST IMPASSE IS POSSIBLE

Dear Association Presidents ,

No one appreciates it better than you , how crucial it is for the business / industry , to see that GST gets implemented in April 2016

For this , we need to convince , both , the NDA government and the Opposition parties , to reach an amicable " Compromise " that is truly , a " WIN WIN " situation for both

If you think , my following proposal will enable both the parties to reach such a compromise , ( a kind of " face - saving " formula for both ? ) , then , I request you to use your good office , towards that end

with regards,

hemen  parekh

Mumbai

(M) 0 - 98,67,55,08,08

hcp@RecruitGuru.com

www.B2BmessageBlaster.com

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Jan   Dhan   Sarjan   Yojana

You have heard that the :

>  Jan Dhan Yojana completed one year on 28 Aug 2015

>  By creating some 17.5 crore accounts during this period , it became ,

    "  World's largest financial inclusion "  scheme

>  There was no need to have a minimum " Bank Balance " to open account

>  Zero bank balance accounts declined from 76% to 45% in last year

>  Bank Overdraft of Rs 5000 allowed after 6 months

>  Of 10 lakhs a/c qualifying for overdraft , 1.65 lakh have used it

By all accounts , this Yojana ( Scheme ) is all set to bring about a revolution in the matter of financial transactions of the poor people of India

Especially thru the use of RuPay Debit cards , every time these poor buy any goods or services from a local " Kirana " shop ( except that 99.99 % of these small local shops don't have card-readers ! )

In the meantime , there are a few other " Game Changing " revolutions shaping up

These are :

>  RBI permissions to some 20 Organizations to start " Payment Banks "

    ( Including Mobile Service Providers / India Post / PayTM etc )

>  Launch of a large number of " Hyper Local " e-commerce firms which

    deliver goods / services to local residents, placing orders thru mobile apps

>  Launch of quite a few " Mobile Wallet " apps, tied up with no of banks

    and millions of small shop-keepers , all over the country

>  Last - and most important - expected launch of  GST  in April 2016

Can we seize this opportunity to " Synergize " these parallel changes ?

It seems , not only possible , but outright essential  !

By launching ,  Jan Dhan Sarjan Yojana

 ( People's Wealth Creation Scheme )

As follows :

>   If GST is going to be ( say ) 20 % , Government will transfer from this ,

     2 % ( ie 10 % of that 20 % ) , to the PPF account of the Consumer /

     Buyer , who pays for the Goods / Services purchased , using a RuPay

     Card or a " Mobile Wallet " app

     This will motivate millions of self - employed to open  PPF  accounts !

>   Since interest from a PPF account is tax-free , every citizen would , now

     want to make all payments thru RuPay card of a Mobile Wallet App

>   RuPay cards are already tied up with accounts opened under Jan Dhan

     Yojana

>   Mobile Wallets Apps will also get tied-up with thousands of branches of

     Payment Banks , which will open in next 18 months

     Just imagine the number of new accounts that will get opened in the

     1,55,000 + post offices of India Post  !

>   In this way , Social Security will become " Self Financing " !

>   Currently , in India , some 97 % of all payments are " Cash Payments ".

     With introduction of this proposal , these will drastically decline

>   Any payment made , using RuPay card or a Mobile Wallet App , will make

     available to the Income Tax Department , full digitized record of each

     such transaction , including :

     *  Who  made the payment

     *  To whom was that payment made

     *  When was that payment made

     *  For what purchase , was that payment made

     *  What was the amount paid

>   One , very desirable consequence of  Jan Dhan Sarjan Yojana

     will be that our " Domestic Savings Rate " will climb back to 30 % !

      In turn , this will help us wither global economic crisis , much better  !

I have a feeling that my proposal will be welcomed by all sections of our Society and find overwhelming support for the passing of the GST bill by all political parties

-------------------------------------------------------------------------------------

hemen  parekh

31  August  2015

B2BmessageBlaster