Saturday, 26 November 2016

where to use old 500 rupees after demonetization

where to use old 500 rupee note after demonetizationAfter The demonetization of old 500 and 1000 rupee notes there is urgency in the country. Whole country is facing the problem of Cash. We want to know that where to use old 500 rupee notes after demonetisation. In India there is cash transaction of about 97% and above that people are pond of holding the Cash in Hand.
Everyone is searching for the alternatives of Exchange of 500 and 1000 rupee note. But after 24th November Rs. 1000 will only be submitted into banks. 500 rupee note will be accepted at many places.
I know you must want to know how to exchange old 500 rupee note or how to convert old 500 rupee note into valid currency after Demonetization Process.

Current Biggest Problem is that there is no exchange of Money now. It can only be deposited in Banks. But there is a chance to use you old 500 rupees note.

Govt of India had announced that there will be no exchange of old 500 and 1000 rupee notes from 25th November.
But one can use old 500 rupees not at following Places 
  • You can pay these to toll Plaza

  • All petrol pumps will accept the old 500 rupee notes till 15th December after demonetization in India.
  • Government school fee can be deposited with these notes up to a Limit of Rs. 2000.
  • You can also pay college fees of states University. 
  • Use old 500 rupee notes for court fees.
  • Make Pre paid Mobile recharges up to Rs 500 
  • Now you can purchase groceries from co-operative stores under State and Central govt. Limit of such transaction is once rupees 5000 only. This will be a great relief after demonetisation. 
  • Pay Railway tickets booking at railway station counters.
  • All government Hospitals will accept the old currency.
  • Water Bill and electricity Bill payment can be adjusted. This will be a place to use old 500 rupee notes after demonetisation in India.
  • Buy Medicines from Medical Stores with qualified doctor's prescription.

  • May not any one have to use at this place but one can use old 500 rupee notes at crematorium grounds.
  • Make Payment against LPG cylinders.
  • Payments towards charge, duty or penalty to be paid to governments as well as municipal with local bodies.
  • You can also use old 500 rupee notes to buy of seeds from nominated state-owned outlets.

With a great step towards Cashless economy and to fight with black money government has introduced Demonetization with a Positive thinking. But there are both advantages & Disadvantages of Demonetization discussed earlier. In my opinion government is giving ample space to use the old 500 rupee notes after demonetisation.

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Friday, 25 November 2016

latest updates on Demonetization Rules

latest updates on demonetization rules
Updates and Rules on demonetization in  india keeps changing.  Major demand of changing is because of Misuse of the exemptions under Demonetisation.

This is not a complete Demonetization In India. Small denomination of Notes up to Rs. 100 are in Use and have legal status. so we have to see Impact and Latest Updates on Demonetization In India 2016.

After two Weeks of Scrapping the 500 and 1000 rupee note in India the conditions are still not Good. There are long queues outside the ATM's and Banks. Business Sector and Public is still not stabilised.

This is Going to be a Big Disadvantages of Demonetisation.

With Consideration of the Problems of Common man, on 24th of November 2016 government had given the 
Latest update on Demonetization Process in India .
  • From 25th of November Exchange of old 500 and 1000 rupees note will be closed. These notes can only be deposited into Banks. 
  • Note of Rupees 1000 denomination can only be deposited into banks and will not be considered any where else. 
  • All the National Highway tolls will be free till 2nd of December and from 3rd to 15th of December old notes of 500 can also be accepted there. this is the latest update on demonetization is created to facilitate the public. 
  • From 24th of November people can get cash from BigBazar too with their Credit or Debit Cards. Limit of Cash withdrawal is Rs.2000 only. 
  • Latest update on demonetisation in  india includes the additional Categories where old Rs.500 note will be accepted Till 15th of December. These categories are explained In detail on The Link above. 

  • Foreigners are permitted to exchange the currency up to rupees 5000 subject to get entered in their Passport. 
  • Haryana Govt had announced that all D category employees will get their Rs 10,000 salary in Cash.
Above were the latest updates on demonetisation process in India. Modi Sarkar is doing all the things which he feels to do good against corruption and Black Money. but still the Cash relief is not in the Market because of lesser acceptance of Card and Digital Payments.

We will let you informed regularly the latest Updates on Demonetization rules In India..

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Friday, 18 November 2016

Indian demonetization policy and steps 2016

On 8th of December 2016, Govt of India had taken a historical Decision of Demonetisation of 500 and 1000 rupee note. 
This Decision will be remembered forever. 

New 2000 and 500 rupee note had introduced.

What do you think how India is reacting on this. what are the problems of Demonetization Indian are facing. What are the policies of Indian Government on This Step.
There are many advantages and disadvantages of demonetisation in India 2016. But here we are describing the Indian Demonetisation Policy and Steps.

Indian Demonetisation Policy is that the old 500 and 1000 currency notes are closed and not be a Legal tender from 9th of November 2016. No one can accept this as currency of India except the places allowed by the government. 

Government is preparing the same from a long Time. Earlier from 2014 they helped everyone to open The bank Accounts with JAN DHAN Yojna. People without Identity card can also open the Bank accounts. Then there is a large support on making Aadhar Card. 
Government also announced a self Black Money declaration Scheme till 30th September 2016. This will be a great policy of demonetisation by Indian Government.

Now Whats are the Indian government demonetization policy and steps to make it successful 

  • First policy on demonetisation is that On all Petrol Pumps old 500 and 1000 notes will be accepted.

  • Govt had announced that all Tolls in India will be free till 24th November 2016.
  • From 18th November All petrol pumps will be treat Like ATM's and up to Rs. 2000 will be withdraw through Debit and credit Cards.
  • Old Currency Notes will be Exchanged from Banks and Post offices till 30th December.
  • Earlier There was a exchange Limit of rupees 4000 , Then 4500 and now only Rs 2000 will be Exchanged. This demonetisation policy is made due to excess Crowd out of Banks. 
  • There is no limit of depositing the cash to Banks. No need to worried before depositing your white Income or savings.
  • While you can withdraw up to 24000 only from Banks.
  • Another Demonetisation Policy is that you can Use these notes for Railway Tickets, Aeroplane Tickets and Government Hospitals.
  • Another Demonetisation Benefit is provided to Marriage Families. They can withdraw upto 2.5 Lakh from Their Account.

  • There are mobile ATM's to solve the cash Problem. 
  • Another Demonetisation policy and step is that No questions will be asked on deposit of 2,50,000 in savings account.
  • A big demonetization Policy is against those who deposited more than 2.5 lakh in Savings account and 12.5 lakh on current account. All deposits will be shared with Income Tax department. You may asked for the origin of Money.
  • After 30th December all old Big currency notes will be a Piece of Paper. But if You have some genuine money than it will be deposited to some branch with all KYC papers.
Above were the Important steps on Demonetisation announced by Indian Government. we understood there must be some disadvantages of demonetisation but the benefits of demonetization in more than that.

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Thursday, 17 November 2016

Impact pros and cons of demonetization

impact pros and cons of demonetization

Impact and Pros and cons of Demonetisation in India are very wide. 

Before we will discuss the advantages and disadvantages of Demonetisation, or pros and cons of Demonetization we must discuss the following points.

What is Demonetisation?
Demonetisation is a process by which a denomination of currency will not be legal tender. The denominations of note will not acceptable as valid currency. The same thing happens with the Rs. 500 and Rs.1000 note after demonetization.

What are the causes of Demonetization?
There can be many reasons of Demonetisation in any economy some of them are : Introduction of New Currency , to stop Black Marketing, excess Currency Storage,  High Corruption rates and others.
There will be excess fake currency in the economy is main reason of demonetisation.

What Happened on Demonetization?
On 8th November 2016, Government of India had announced that from that day on wards rupees 500 and 1000 rupee note will not be a legal tender. This means that 500 and 1000 rupee note will be accepted by anyone except the organisation declared by government. They can change the currency from the banks and post offices till 30th December 2016.

What is Impact of Demonetisation? What are Pros and cons of demonetization in India in 2016?
There are clear Impacts of demonetization showing in all the cities of India. Results of currency closure can be advantages or disadvantages. Business Batao supports the currency demonetization in India.

We are mentioning the current disadvantages of Demonetization:
  • All India is in line out Banks and ATM’s for Cash.
  • People are waiting for more than 5 to 10 hours to get cash from Bank. Still after waiting some people are no getting Cash. Harassment to public is a big cons of demonetisation in India.
  • ATM’s are not calibrated according to New 500 and 2000 rupee note.
  • Till 16th of November 2016 there is a report of death of more than 35 people due to cash problem.
  • People are getting 2000 rupee note but not getting the change in the market against this note. Small currency is threatening Disadvantages of Demonetization.
  • There can be a problem of Law and order in the country.
  • All families where there is marriage in the month of November are in big trouble. Another demonetisation disadvantages is with those families.

 Advantages of Demonetisation / Pros of Demonetization.
    pros and cons of demonetisation
  •  All fake currencies will be swiped in one shot is the biggest benefit of demonetization.
  • Bank and Card transactions will Increase. This is positively affecting the Indian Economy.
  • There is big fall in terrorism activities in Jammu and Kashmir is biggest demonetisation advantage.
  • There will be proper cash in the banks and condition of bank will be going better off.
  • Big Amount of Black money is kept by the government Authorities.
  • All Black Marketers and Corrupt officers are in Threat will be advantages of Demonetization.

So above were the pros and cons of demonetisation. I will keep you update with the impact of demonetization regularly. 

Comment and Share the Post for regular Updates on Demonetization

Also Read
Latest News and Updates on GST Rates

Demonetisation Policy Steps and Updates 

Sunday, 13 November 2016

what are rates of GST in India

what are rates of GST in India

Another Meeting of GST council was held on 3rd November 2016. This was a fruitful meeting on rates of GST in India. After so many meeting held by GST council the Final rates has been fixed.

Goods and Services Tax will help the people to easily trade from one state to another state. The rates of goods will be same in all over India after GST Applied.

People have the question in mind that what are the rates of GST in India. 

 So Following are the slab of rates under GST.

  • 0 Percent : On the Exempted goods Like essential items ,Grains etc.
  • 5 percent : This Tax rate will be applicable on common required goods like cloth etc.
  • 12 percent : This is the standard tax under GST rates slab includes the packaged foods too. 
  • 18 percent : All Products which are not covered under 12 percent GST rates will be covered under this except Luxury Products.

  • 28 Percent : This is the rates of GST which is applied on Luxury and High class products. Common goods under this category of GST are tobacco, Luxury Cars, alcohol etc.
There will be addition cess applicable to cover the Losses and Compensate it to the sates for Five Years : Mr Arun Jaitley, Finance Minister of India.

Government had announced balanced Tax rates of GST in India which has the advantages and disadvantages too. So what is the impact of GST rates on Consumers?

Many Products Like tobacco and other Luxury products which are taxed at 40 % inclusive of Excise and Vat will now have to pay 28% of GST. So these Products will be cheaper now.

There is also a tendency that manufacturer will save the Excise but they may increase the rates of product to earn more profit after low rates of GST in India. It will be a negative Impact of GST Rates.

Here are some examples of products which will impact after GST Tax rates:

  • Items like garments and shoes which are now under slab of 4 percent now taxed fewer than 5% after New rates of GST and there is a impact of 1% costlier to customers.
  • AC’s, washing machines, Fridge, cooking appliances and many other Products will be cheaper as the total GST impact on these will be 28 percent which is now more than that.
  • All the Services may come under the Tax slab of 18% which is costlier by 3% from Now.
The average rate of GST in India is less than 18% which is demanded by all the political Parties. Government is willing to start it from 1st April 2016 for their political Reasons too. 

Comment Below to Get more Updates On Gst 

Also Read
Advantages and Disadvantages Of GST in India
Demonetisation of Indian Rupee

Wednesday, 9 November 2016

Disadvantages of Demonetise of 500 & 1000 rupee note

Disadvantages of Demonetisation of 500 and 1000 rupee note

Prime Minister had taken a bold decision of closure of 500 & 1000 Indian rupee notes.

There are pros and cons of demonetization of Indian currency. But whenever such orders are passed the common man is in trouble. 

There are many advantages of demonetization of 500 and 1000 Indian rupee notes.  
Now we have to see the pros and cons of demonetization. I know that all India is fighting the situation but we all want to be aware about this. 

Main Disadvantages of Demonetisation of 500 and 1000 rupee notes
  • There is Hugh rush to the banks from last many days and normal work can be hampered.
  • Government had not alter in ATM's so there are big problems in currency Exchange.
  • Biggest Disadvantage of Demonetization will be with tourist who have only old notes and no connections in the area.
  • Common man who has only 500 and 1000 Currency notes will be in trouble for their daily livelihood for next some days.
  • Many People who has event like marriage and other having only old 500 and 1000 rupee notes will be in Big problem. They are really facing the high demonetisation disadvantages in India.
  • Some people had not Information of where to exchange the Old currency notes.

  • There are raids by Income Tax, Sales Tax and excise which can create problem for Business. 
  • If there is a Hard earned money which is beyond the limit of 2.5 lacs can indulge you in problem. this may be a biggest Disadvantages of Demonetisation of 500 and 1000 rupee notes.
  • At some Places Banks are unable to handle the pressure of Public and the currency notes are out of stock.
  • There will be problem of Change with 2000 rupee note. These were the some limitations of demonetization 500 and 1000 rupee note.
where to Use Old currency notes  after demonetization of 500 rupee notes till 15th December
  • At Government hospitals ,
  • On Interstate Bus Counters, Airports and Railway Station Ticket counters 
  • Petrol Pumps and Gas stations
  • All Banks and Post offices
  • Authorized Milk Booths
  • Crematoriums  grounds
  • Comment to Know More
I believe that there are many disadvantages of demonetisation.
Now See the Steps Taken By Government for Benefit of common man after demonetisation of 500 and 1000 rupee notes.

  • All National Highway tolls will be free till 2nd December. Government is ready to bear the loss with the citizen.
  • There will be Free treatment under Rs 500 in AIIMS.
Above were the big announcement by the Government of India as they are also understanding the pain of common man. 
Imp : Government will track all the deposits above 2.5 lacs in saving and 12.5 Lakh in Current bank accounts. Be careful. penalty upto 200% after Tax.

More Disadvantages of demonetisation of 500 and 1000 rupee note may be seen in Future but till now its a great decision.  

Read More 
Advantages of demonetization of Indian Rupee Notes 

500 and 1000 rupee notes Discontinued in India

GST rates In India 

Advantages of demonetisation 500 rupee notes

Advantages of closure of 500 and 1000 rupee note

Government of India had taken a Historical decision of demonetizing the 500 and 1000 rupee notes in India. This will really effect the economy and the common man too. 

Very soon it will be clear that how people of India will react on the decision of benefits and demerits of demonetize of 500 and 1000 rupee notes. 

Yes there are many demerits & advantages of demonetization of 500 and 1000 rupee note.

Main Advantages of demonetization of the 500 & 1000 Rs Notes

  • It will help to control the Black money to a Little extent. But what with the Black Money that Lies in Property and Gold.
  • It will help to stop the funding of Terrorist. This is wow demonetization advantages.
  • It will totally clear the Fake currency from India Now.
  • This will also make sure to circulate all your money of 500 and 1000 note to Bank.
  • This will also make tendency of using Plastic Money which makes economy better.
  • People will now Open Bank Accounts and also make Identity cards. This is the Biggest Advantage of Demonetization In India.
  • All Black money will come Out from the treasure.
  • This will narrow the Gap of Rich and Poor with very little extent.
  • Apart from this advantages of new notes are that this will clear all waste notes from the system.

advantages of demonetization of  Currency notes will be more in the economy in coming days but there are more disadvantages of Demonetization these days.

Indian Government is going to take all the required steps to faciliate you like free tolls , notes acceptable in few areas and others. effect of the same will be seen after 50 days when there will be proper cash in the market. government is allocating New 500 and 2000 rupee note in the market.

People are often discussing what are the benefits of new currency in India, what are the benefits of new 2000 rupee notes in system. The biggest advantages of demonetisation is that all black marketer are in Fear. 

What you must Know after 500 and 1000 rupee note scrapped is a Important Point. This is already discussed and more Information can be available on comments.

Subscribe us for regular Updates of Demerits and Advantages of Demonetization.

Tuesday, 8 November 2016

500 1000 rupee note demonetisation

500 and 1000 rupee note discontinued

500 and 1000 rupee note is now Demonetized.

This is a Historical decision by government of India. 

RS. 500 and Rs 1000 notes will not a legal tender from now any more.

Prime minister of India Shri Narendra Modi has announced that Rupees 500 and Rupees 1000 currency will be discontinued from 8th November 2016 night 12 PM. 

Demonetisation of Indian money is a big decision of government of India for the prevention of the Black money.

All old 500 and 1000 rupee note will be exchanged and submitted to your bank from 10th of November to 30th December 2016.
Govt had issued New 500 rupee note and 2000 rupee note. These New 2000 rupee notes are little smaller in Size.

  Important Points to remember on old 500 and 1000 rupee note 

  • Banks are taking these currency till 30th December 2016.
  • After 30th December You have to submit the same to RBI with Income Declaration.
  • Petrol Pump will take these Currency Notes till 24th of November 2016.
  • You can change old rupees 500 and 1000 notes on Airport too.
  • You can easily do other Financial activities through Bank. Like NEFT, RTGS, Cheque and others.
  • Post offices also will accept these currency till 30th December 2016.
  • All Government Hospitals will accept the 500 and 1000 currency in a limit.
  • You can use credit and Debit cards Without any Problem.
  • No Need to Panic who have genuine Hard Earned Declared Money. Exchange your notes in 50 days.
Governor of RBI Mr. Arjit patel has announced that  bank will help the common man to change their money. All Banks and Post offices are managed to do so. we would like to make advantages of demonetization in India.

This is not a overnight decision of Demonetization of Indian Rupee. RBI is into the printing of such notes from long way. Banks had already handled the new denomination notes enough to handle the customers.
500 and 1000 rupee not is over.
Bank will remain close on 9th of November 2016 for the preparation to serve the customers.
There is a limit of cash with drawl from the bank for Next two weeks.

Future will decide what will the advantages and disadvantages of Demonetisation. But the main Benefit of Demonetisation is that the Fake currency will be swipe out from the India. 

Business Batao is appreciating the decision of closing such notes but Rs 2000 note is not good for economy. 

Also read 
Advantages of demonetisation of 500 and 1000 rupee notes In India

Disadvantages of Demonetisation of Rs 500 Indian Rupee 

Sunday, 25 September 2016

Latest Updates on GST Bill in India

Latest Updates on GST Bill In India

Latest Updates on GST Bill in India

In Association with
GST stands for Goods and services Tax Bill in India. This is Much awaited type of Tax therefore we all look for latest updates on GST Bill in India. GST will cover all other Indirect Taxes. All other Indirect Taxes Like Excise duty, VAT, Central VAT, Entertainment Tax, Service Tax etc will be end.

Companies and Businessman need not to charge many types of Taxes and only one GST will help. GST council has been founded after the approval from majority of States. No Doubt that this is biggest tax reform after many decades.

Following are the major Latest Updates and News on GST Bill in India

GST Bill had been passed from Both Central Assemblies in August 2016. All political Parties has supported this Bill.

Majority of States including the most BJP ruled States had approved the GST bill. Bihar and New Delhi was the most surprising States where the BJP opposition Parties.

President of India had approved the GST Bill and the way to GST council was cleared. With this step Govt is in full force to apply it from 1st April 2017.

Central Government had founded the GST council in the month of September 2016.
The Latest Updates on GST Bill is First Meeting of GST council is held in New Delhi for two days.

In this meeting the Major conclusion is the Limit for covered under GST. For all states other than the North-east the Limit is Rs. 20 Lakh Per Annum. For Seven States this Limit is 10 Lakh.

The Turnover limit is a bit relaxation for the small traders in India. This latest News Gst council is good for them.

This meeting is represented By our Finance Minister Shri Arun Jaitley says that the base year for losses for states will be 2015-16.

Meeting between the State and central representative voluntary decides that the power will remain with the sates.

As the First Meeting of GST council is come to an end with some fruitful decisions. Lets see the Second meeting on GST will be held on 30th September 2016 for finalising drafts and Exemption.  

After the surgical strike by the Indian Army the government onto a High Note. Second GST council Meeting was held on Friday in New Delhi and this meeting has not given any fruitful decisions with the rates of GST. Now rates of GST will be decided in later meetings of GST council. 

"Time will decide that what will be the merits and Demerits of GST bill in India"

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Monday, 19 September 2016

Approval of GST Bill

Approval of GST Bill

Approval of GST Bill

After Approval from the president of India, the government has created the GST council. 
GST council will decide the rate of GST and rules of the GST for state and central.

It is good news for the Modi’s Government that Honourable President of India has given his approval to GST Bill which is a indirect Tax revolution Bill on 8th of September 2016. 

By this the process of implication of this Goods and services tax bill has taken a step ahead.

After the clearance of the Bill from Rajya sabha and Lok sabha it was a major problem to get it passed from at least 50% of the states in India as early as possible but the same has done in less than a month.

The bill was passed from Lok sabha on 8 august 2016 and before a month the GST bill has already get the approval from the following 17 states.

following are the 17 States where Approval of GST Bill is happened :

1.       Assam (BJP),
2.     Jharkhand (BJP),
3.     Chhattisgarh (BJP),
4.     Bihar (Non BJP Govt),
5.     Himachal Pradesh,
6.     Gujarat (BJP),
7.     Madhya Pradesh (BJP),
8.     Delhi (AAP),
9.     Nagaland,
10.  Maharashtra (BJP-Shivsena),
11.   Haryana (BJP),
12. Sikkim (BJP)
13.  Mizoram (congress),
14.  Telangana (Congress),
15.  Goa(BJP),
16.  Odisha (BJD)
17.  Rajasthan(BJP)

We have shown that Non BJP government has also taken initiative to pass the bill from their assembly as early as possible to roll it from next financial year.
This government would like to apply the GST from 1st April 2017 therefore the Prime minister itself is looking after the GST committee.

India is a Big country with 29 states with different governments and needs. Therefore there will be dual GST Model . Central GST and State goods and services tax act. There is always a contradiction about the advantages and disadvantages of the GST in India.

As the rates of Tax is not same in all states and there is different prices from one state border to other. GST in India will make single price of product and services in all states.

Now we are into the process of GST and there is little to go for it. If the government will act fast then it will be applicable by April 2017. India wishes that Approval of GST Bill will done As soon as possible.

Comment Below to Know more

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