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VOL. XXXVIII NO. 38 PAGES 64 NEW DELHI 21 - 27 DECEMBER 2013 ` 8.00
GOODS AND SERVICES TAX : CHALLENGES AND OPPORTUNITIESSankhanath Bandyopadhyay
WEB EXCLUSIVESFollowing item is available in the WebExclusives section on www.employ-mentnews.gov.in : 1. National Identification Authority of India
Bill, 2013
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RAILWAY
CAREER IN EVENT MANAGEMENT
I ndia has witnessed a number ofreforms in indirect taxes over the last
two decades with the replacement ofState Sales Taxes by Value Added Tax(VAT) in 2005 marking a watershed in thisregard. A Modified Value Added Tax(MODVAT) was introduced for selectedcommodities at the Central level in 1986and subsequently extended to all com-modities through Central Value AddedTax (CENVAT). Value Added Tax(VAT) atthe State level was introduced in aphased manner during 2003 to 2008.Prior to the implementation of VAT, theindirect tax structure in the country wasconsidered somewhat problematic due tothe "cascading effect of taxes" wherebyan item is taxed more than once from theproduction stage to the final retail salesstage. Exporters were also becomingless competitive in the international mar-ket due to the relatively higher input costsinvolved through the earlier sales taxmode (tax burden of a commodityincreases when it is taxed repeatedly) -reflected in higher prices of products ascompared to global competitors.To address this problem, VAT was intro-duced so that taxes are paid on the"value added portion" by each producerand the hurdles of the cascading effectare done away with. But shortcomingshave been noticed in the VAT structure aswell and efforts have been made to fur-ther rationalise the system. For instance,a number of Central taxes like customsduty, surcharge etc. were not included inCentral Value Added Tax (CENVAT) whileindirect taxes at the State level such asentertainment and luxury taxes were leftout of the purview of VAT.While the"White Paper on State-Level ValueAdded Tax" by the EmpoweredCommittee of State Finance Ministers
(ECSFMs), Ministry of Finance, GoIhademphasized that, in general, all thegoods would be covered under VAT andwould get the input tax credit benefit, stillmany goods like liquor, lottery tickets,petrol, diesel, aviation turbine fuel, motorspirit etc. were kept outside VAT sincetheir prices are not fully market deter-mined. The taxation of services was initiated inIndia on July 1, 1994; it is said to havetaken 'giant leaps' over the years both interms of coverage and increased taxrate. However, over the years, the neweradditions to the existing list of servicesraised issues of overlaps, confusingwhether some activities were being taxedfor the first time or were already coveredunder an earlier taxable head. It hasbeen pointed out that there is lack of clar-ity in existing definitions pertaining toservice tax, exposing the tax collectionprocess to avoidable leakages and litiga-tion. Moreover, the hitherto Constitutionalprovision does not allow both the Centraland State Governments to tax both goodsand services in an inclusive manner. Thegovernment has therefore recognised theneed for harmonisation of goods andservices tax so that both can be levied ina comprehensive and rational manner ina new taxation regime - namely, Goodsand Services Tax (GST).While presenting the Union Budget for2007-08, the then Finance Minister P.Chidambaram had announced that GSTwould be introduced from April 1, 2012, inorder to have a tax structure wheregoods and services tax can be unified ina comprehensive manner. However,since then it has been realized that intro-ducing GST is not an easy task asreflected in the repeated postponementof deadlines of GST implementation.
Issues like addressing States'concerns,GST rate structure, taxing specific sec-tors (like food, petroleum, electricity, landand real estate), and the Constitutionalamendment needed have been amongthe major hurdles.Country case studies regarding GSTreflect that socio-economic conditions ofcountries differ; hence, a GST frameworksuccessful in any particular country maynot necessarily be successful in othercountries. Though GST has a number ofadministrative, compliance and otherbenefits, to what extent such a tax regimewould be suitable in the socio-economiccontext of the Indian economy, is a mat-ter of debate. From country experiences,it can be observed that GST is particular-ly suitable for countries with homoge-neous commercial and demographic fea-tures. The socio-economic conditions ofthe States in India are much differentthan the countries of the EuropeanUnion. Hence, it is argued that beforeimplementing GST there should be aclear consensus whether there would bea net benefit for the Indian economyand/or whether Indian economy is readyto absorb the benefits of the GST regime. For instance, it is argued that a singleGST rate is best for administrative effi-ciency. However, considering both theaspects of fiscal federalism as well asState revenue implications, a single rateis not feasible in India. Given the verticalinequality of State Governments relativeto the Central Government and horizontalinequality among State Governments inIndia (i.e. the inequality in revenue mobil-isation capacity), a single rate of GST isdifficult to implement in the absence ofcompensation for States (for revenueloss, if any). However, if the amount of
compensation is huge and have to bepaid for a long time, it might put fiscalstrain on the Centre. Such possibilitiesshould be reviewed carefully. The VijayKelkar Task Force suggested to levy GSTat two levels- Centre and State, compris-ing two rate components, viz. CentralGST(CGST) and State GST(SGST)respectively. A dual GST module for thecountry has also been proposed by theEmpowered Committee of State FinanceMinisters (ECSFM) in their firstDiscussion Paper on GST. Under thismodel, GST would have two componentsviz. the Central GST to be levied and col-lected by the Centre and the State GSTto be levied and collected by the respec-tive States. Central excise duty, addition-al excise duty, service tax, and additionalduty of customs (equivalent to excise),State VAT, entertainment tax, taxes onlotteries, betting and gambling and entrytax (not levied by local bodies) would besubsumed within GST. New Zealand is an example of a countrywhere GST operates very successfully,but that success was not achieved in ashort time; it was a consultative processthat took long time to settle considerableissues. In New Zealand, the GST modelcomprises a low uniform rate and zeroexemptions. It took time to convince eco-nomic agents about the necessity of zeroexemptions. In the context of the politicaleconomy of India, more time should beprovided to sort out such issues. Hence,consultative processes pertaining to GSTare important even if such processestake time. [The writer works with Centre forBudget and GovernanceAccountability (CBGA). E-mail : [email protected]]
Are you the one remembered whena ceremony has to be organised
at home? Was the cultural programmeyou organised for your college a hit?Do you think you have a flair for organ-ising events? Yes? Then, event man-agement might be the right careeroption for you. Event managementleads to a glamorous and fascinatingcareer. Of late, it has become a popularcareer option among youth. But, whatexactly is event management?Event management is all about organ-ising events. An event can be anything- a wedding, birthday party, businessconference, fashion show, musicalshows, exhibitions, trade fairs, pressconferences or political campaign.When the event is not a private affairlike marriage, managing the event canbe seen as a form of marketing andadvertising. Unlike a few years back, today, eventsare big. With more disposable income
on hand, individuals are willing tospend lavishly to make their occasionsmemorable. On the other hand, the cor-porate world marked by intense com-petition, is in no mood to compromiseon the scale and standard of theirevents. Apparently, well-trained profes-sionals are needed to manage them.So, there is a huge demand for experi-enced event managers. The job of an event manager is toorganise events successfully. On job,the responsibilities range from visualis-ing and planning to budgeting andorganising the event. Managing anevent is an intensive undertaking. Itrequires expertise from multipledomains like advertising, logistics,sales, security, operations and publicrelations. So, to organise an event, youneed the support of professionals fromvarious fields. Similarly, you have tomaintain good relations with techni-cians and different vendors to ensure
timely flow of quality supplies. Forinstance, to organise a wedding, youhave to coordinate with florists, soundtechnicians, venue planners, musi-cians, caterers and so on.The job
Event management introduces you tovarious kinds of activities and providesenormous scope for learning. As part ofyour job, you will get to meet peoplefrom different professions, work withthem and understand their approach towork. Your job commands you toorganise a variety of events; on yourway to meet the expectations of yourclients, you will pick up a variety ofpractical skills. Interestingly, you willalso get a chance to observe variouscultures. The job of an event manager brings outthe best of creativity in you.Sometimes, you would be required toorganise an event in a location that is
Continued on page 64
64 www.employmentnews.gov.in Employment News 21 - 27 December 2013
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IMPORTANT NOTICE : NEW RATEThe DAVP Rates for advertisements published in Employment News isrevised to Rs. 190.44 per sq. cm. The rate shall be applicable w.e.f. 7December 2013 issue of EN/RS. All the advertisers are requested to takenote of this and make payment accordingly.
CAREER IN ...
Continued from page 1
not familiar to you. You should be quick and skilful enough to connect with ven-dors in that place and organise the event. At times, you may have to coordinate with celebrities and discuss their payments.To organise some events, you may have to connect with government officials con-cerned and seek their permission. Sometimes, you are even expected to arrangemedia promoters. So, in simple terms, this career will expand your network of con-tacts exponentially and hone your aptitude in multiple dimensions. Skills required
To succeed as an event planner, you need to acquire a number of skills. At the topin the list are communication skills and people management skills, because youhave to deal with several people every day. As an event manager, you have tothink on your feet, and visualise an event that not only meets the expectations andpurpose of the client but also stands out. More importantly, you should be able tocommunicate your ideas and vision to the client and your team. A comprehensive understanding of project management is the next important req-uisite. Organising skills, flexibility, problem-solving skills, calm temperament,attention to details, ability to work under pressure and aesthetic sense are somemore factors that contribute to an event manager's success. Also, to stay aheadin the competition, you should keep yourself updated about the latest technologi-cal developments and incorporate them into your work. The event management industry is facing a dearth of event management profes-sionals with strong technical skills. To deal with this situation, the industry isacquiring professionals from a vast array of other fields. However, they can dealwith specialised areas of events. However, professionals with comprehensiveunderstanding of the event management industry and its operations too arerequired. The industry needs creative and result oriented event managers.A career in event management provides immense job satisfaction. After all it is agreat feeling to see your vision manifest in front of you! Though the work is oftentiring and erratic, you will feel it is worth it when your clients appreciate you at theend of the day. To begin your career in the event management industry, you can pursue a coursein event management. However, graduates from allied fields like public relationsand marketing, can also find challenging opportunities in the field. The successmantra of top event managers is willingness to learn. Throughout your stint in theindustry, you should be willing to experiment and learn. Gaining cross-functionalskills is inevitable to grow in the event management industry.
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100% Grant to training Institutions for skill training toHandicapped persons.Also stipend of Rs. 1000/- per person per month.Visit our website : www.nhfdc.nic.in
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The Union Cabinet has approved the reserve price for auction of spectrum in 1800 MHz band for allservice areas and for 900 MHz band in Metro service areas of Delhi, Mumbai and Kolkata on the rec-ommendations of the Empowered Group of Ministers. The reserve price for 1800 MHz band has beenapproved at Rs. 1765 crore per MHz Pan India. The reserve price for 900 MHz band would be Rs.360 crore, Rs. 328 crore and Rs. 125 crore per MHz in Metro service areas of Delhi, Mumbai andKolkata respectively. The decision is expected to result in further efficient utilization of the scarce nat-ural resource of spectrum facilitating expansion of telecom services in the country.The Cabinet Committee on Economic Affairs has approved a Mission for Integrated Development ofHorticulture (MIDH) for implementation during the 12th Plan with an outlay of Rs. 16,840 crore, a cen-trally sponsored scheme. Out of this, State governments will be contributing a sum of Rs. 866 crorein the States where the National Horticulture Mission (NHM) sub-scheme is implemented.Implementation of MIDH is expected to achieve a growth rate of 7.2 percent in the horticulture sectorduring the 12th Plan, besides generating skilled and unskilled employment opportunities in rural andurban areas. In the recently concluded Assembly elections in five states, Congress party won 30 of the 39 seatsfor Mizoram. This is Congress fourth electoral victory after Mizoram attained statehood in 1987.Bharatiya Janata Party (BJP) has won the State Assembly elections in Madhya Pradesh, Rajasthanand Chhattisgarh. In Delhi Assembly elections, BJP emerged as the single largest party and AamAadmi Party (AAP) in its debut, emerged as the second largest party. The WTO's Bali Ministerial Conference concluded with agreement on a package of issues designedto streamline trade, allow developing countries more options for providing food security, boost leastdeveloped countries' trade and help development. The Bali Package is a selection of issues from thebroader Doha Round negotiations.This package is been described as the first major agreementamong WTO members since it was formed in 1995 under agreements from the 1986-94 UruguayRound negotiations. India fought hard for a deal that will allow an unhindered roll-out of the food secu-rity programme that legally entitles subsidised food-grains to nearly two-thirds of the population with-out violating rules defined by the WTO.After five decades of its relentless performance, an iconic delta-wing fighter aircraft that heralded the'supersonic era' in Indian Air Force, Mig-21 FL has been phased out. Mig-21 played crucial role in1971 war giving IAF the air superiority over vital points and areas in western sector. The High Level Committee to Review the SEBI (Prohibition of Insider Trading) Regulations, 1992 hasmade recommendations to the legal framework for prohibition of insider trading in India. It hasfocused on making this area of regulation more predictable, precise and clear by suggesting a com-bination of principles-based regulations and rules under Chairmanship of Justice (Shri.) N.K. Sodhi,former chief justice of Karnataka and Kerala High Courts and former presiding officer of the SecuritiesAppellate Tribunal.The Unique Identification Authority of India (UIDAI) has completed issuance of 51 crore Aadhaar num-bers by November end. With generation of about 11 lakh Aadhaar numbers every day, the programmeappears all set to complete its mandate of covering 60 crore population in the next fewmonths.(details see web exclusive)India was chosen as the host country for Under-17 FIFA World Cup in 2017 by the FIFA executivecommittee in its meeting at Salvador de Bahia in Brazil on 5 December 2013.By virtue of being thehost country, India will take part in the 24-nation tournament for the first time in its history. This will bethe biggest ever football tournament in the country as this is the first FIFA event in the country's his-tory.
NNEEWWSS DDIIGGEESSTT
Colleges and Courses
Institute Course Eligibility Admission Website
Rachnoutsav Professional 10+2 with - www.rachnoutsaveventsEvents Foundation 60 per cent academy.comAcademy, Course in marks in Hyderabad Event English
Management Graduation Advanced Masters Course in Event Management
Apeejay PG Diploma in Graduation Performance www.apeejay.eduInstitute of Public Relations at entrance Mass and Event test and Communication, Management interviewDwarakaEMDI Institute Diploma in 10+2 - www.emdiworld.comof Media and EventCommunication, ManagementHyderabad PG Diploma Graduation
in Event Management
National Post-Graduate Graduation - www.niemindia.comInstitute of Diploma in Event Event Management, ManagementMumbaiIndian Postgraduate Graduation Performance www.iimc.nic.inInstitute of Diploma in at entrance Mass Advertising test and Communication, and Public interviewNew Delhi Relations
Xaviers Diploma in Graduation in Performance www.xaviercomm.orgInstitute of Public Arts, Science, at entrance Communication, Relations and Commerce, test and Mumbai Corporate BE, Bachelor interview
Communication of Management Studies or Bachelor of Mass Media
(The write up is contributed by TMIE2E Academy Career Centre based in
Secunderabad. [email protected])
