5 Things you can save on post implementation of GST

A month has already passed since the GST or the Goods and Services Tax has been implemented on the 1st of April, Indians are gradually feeling the effect of the general price increase throughout the country. While there are many who have already started going on a pre-GST shopping spree with the thought of paying a much less amount, some others are left pondering over the fact that they’re missing out on such offers. However, the only good news after the implementation of GST is that there are few businesses which have taken the decision of absorbing the costs and not passing the burden of GST to their customers. So here are few things on which you can save money post-GST implementation.

#1: Eating out in hotels and restaurants

There are many who have resorted to cooking at home for compensating the increase in prices for eating out. The people of Malaysia can rest assure that there are few famous restaurant chains which have decided to reduce the burden on their customers by maintaining or lowering their prices. Food chains like McDonald’s, KFC and Dominoz Pizza have decided to absorb the GST and they are doing so without adversely hurting their business. So, you can still save money by eating out.

#2: Beauty and Fashion

For the people who are fashion-conscious, there isn’t any worry about not being able to maintain the latest trends. Zalora, a fashion retailer online announced that they will absorb the GST rates on all items. Zalora is a Malaysian brand which has not only decided not to hike its prices by the 6% GST levels but they have also decided to apply a 6% discount on all customers, thereby even lowering the prices by 5% as compared to pre-GST prices.

#3: Cars

Are you looking forward to buying cars? If yes, then there are both foreign and local makes which have decided to absorb GST rates. Perodua will reduce prices of their vehicles between 0.1% and 1.6% depending on different models. Volkswagen has even updated its prices on all variants and models, thereby maintaining their net selling prices. However the insurance will definitely be subject to its own 6% GST.

#4: Tech gadgets

Technology geeks may rejoice when they get to know that they can continue to get their latest in electronic gadgets. Oppo is a smartphone maker which manufactures really awesome devices like the R5 and N3 and they have committed to absorbing GST their gadgets and this translated to 0% increase in the retail price of the phone. Hence, you can still buy your gadgets at their best prices.

#5: Wholesalers and General Retail

There are still places to cater for families which are looking to shop for few essential items or for those who are hunting for good deals to satisfy their needs for impulsive shopping. With a whole range of items like electronics, hardware, household, textiles and foods that are available, families feel safe to know that they can still get their essentials without having to pay extra.

Therefore, if you’ve been worried about the extra payments that you have to pay on various things post GST-implementation, consider the above mentioned points.

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GST and its impact on your personal finances – How should you adjust yourself?

The Goods and Services Tax or the GST has come into effect since the 1st of July, 2017 and it has just started creating a stir in the country, the consumer economy and especially among the business sectors. This new initiative by the finance minister is anticipated to enhance the entire procedure of tax collection and give a huge boost to the Indian economy. According to the latest news on GST, the personal finances of every individual will be impacted in a similar manner.

You must be intrigued to know how the GST will impact your finances. So, here we bring forth a few areas that will be affected by GST and how you should adjust your financial strategies.

#1: Mutual funds

Goods and Services Tax will lead to a slight increase to the expense ratio which is charged by mutual funds for purposes of fund management. As per experts managing funds will be considered as a service provided and hence this used to be subject to 15% in service tax and now that the GST is here, it will be charged at 18%.

#2: Banking

All kinds of transactions like loan processing in India, credit card payments, fund transfers and cash withdrawals will be a bit more expensive with 18% tax which has come into effect due to GST. But in the near future, the increase in tax collections will be normalized through input credit which can be claimed by the banks under the GST regime. Other services like fixed deposits and savings will stay as they are. You have to lower the number of transactions as this is the best way in which you can alleviate the blow from GST as it is coming on the customers.

#3: Insurance

As tax rates will go up to 18%, the costs that you have to pay in buying insurance policy and maintaining it will even move up slightly. Taxes are going to be 18% in the first year for all individual term policies and even on the premium that is there for renewal. For every 100 Rs. that you pay towards your premium, you have to give away Rs. 18 as GST too. Previous insurance plans, the traditional ones which had service tax of 3.7% on the premium will have 4.5% in the first year of GST.

#4: Gold

Gold is going to become even costlier and there is another proposal for 3% taxes on gold and on gold jewelry. They can even claim input tax credit in case of gold jewelry and this can be adjusted with the other taxes, as long as jewellers are concerned. If there are customers who sell back their gold to jewellers, they will not be able to get extra cost while buying the same again.

Therefore, if you’re worried about how the GST will impact your finances, you can take into account the above changes that it has brought to different areas of finances. Adjust the way you spend on things so as to stay on top of your finances.


GST FAQ – For all the confused Indians who are worried about GST and its impacts

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On Friday midnight, 1st of July, the whole country’s eyes were glued to their television sets as the brand new taxation policy, the GST or Goods and Services Tax system was introduced within the nation. The GST personifies ‘one nation – one tax’ phrase. Now the goods and services tax will fall under 5 categories, 0%, 5%, 12%, 18% and 28%. Arun Jaitley, the finance minister has reportedly said that after the implementation of the new tax system, inflation will fall, avoiding taxes will become difficult and the Gross Domestic Product of India will also benefit in a big way. Let’s take a look at few GST FAQ reading which the confused Indians can clear their doubts on the new buzzword.

#What is GST exactly?

GST has to be paid when a consumer purchases something. This tax will be levied on all transactions in the supply of services and goods, apart from few items like petroleum products. The tax that is levied at one stage can be deducted later on from the tax to be paid in the next stage. India has got a dual GST, Central GST and State GST. Apart from CGST and SGST, there is also an integrated GST (IGST) which is applicable on the inter-state supply of services and goods and this can be set off against SGST and CGST which has to be paid.

#Who will decide the rates of GST?

The GST council which includes the union finance minister (who will also be appointed as the chairman of the council) and the finance ministers of state will finalise the rates of GST.

#Where do you have to register for GST?

The GSTN or the Goods and Services Tax Network is a private, non-government company and the central government holds 24.5% stake. They will provide you with IT infrastructure and services of support to the governments, taxpayers and other providers of the service for the implementation of GST.

#Initial relaxation of rules for the 1st 2 months

The GST council has relaxed the norms for tax filing for 2 months, July and August2017 for all those who are still into maintaining manual records or who are in the process of GST transition. The council has finalised a simple form as per the Central Board of Excise & Customs, the government department supervising the GST implementation. There wouldn’t be any late fees or penalties for filing late and the regular returns would have to be filed since September.

#Which items will be covered through GST and which won’t be covered?

Few regular use consumer items like pulses, cereals, dairy products, fish, fresh meat, fresh fruits and vegetables are exempt from GST, as per data provided by the government. Different skill development services and education have been granted exemption, as per government sources. Alcohol, electricity and 5 petroleum products like petrol, crude oil, diesel, natural gas and aviation turbine fuel will be out from GST. They will attract central excise and VAT.

Therefore, now that you know the basics of GST, you must not feel confused any longer about how it works and what impact it can have on your life.


Ways in which GST is going to set its impact on the economy


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Although it is true that lower Goods and Services Tax (GST) will reduce inflation but it won’t lead to an economic growth significantly in the short term. However it is definitely going to benefit the Indian government in the medium term, as per what experts have to say. Majority of the economists predict the inflation to come down as the GST rates for most of the goods have already been fixed at a special rate, which is pretty low.

The introduction of GST will now prompt India Inc to reorganise their business as the nation switches itself to the regime of GST which will pull smaller companies into the tax bracket. Although it is not optimal, let the best not be enemy of the good. There are lots of imperfections of the GST but at the same time, it could also usher noteworthy benefits as well. It is going to give a quantum leap in logistical efficiencies and transaction trails. Let’s take a look at the few impacts of GST in the near future.

#1: GST will shake corporate operations

With the new taxes called GST, too many companies will have to restructure the way they operate their business. Now companies have to insist their suppliers and vendors to give invoices as GST will make it extremely strict for companies who had been evading taxes. The bigger companies are able to reap benefits from GST as they have a supply chain which can offset taxes that are paid on inputs. As compliance cost will rise, smaller companies may have to spend more.

#2: Passing the benefit of low taxes

Finance Minister, Mr. Arun Jaitley will keep a close supervision on whether or not the companies are passing over the benefit of low taxes to the consumers. The experts believe that while corporates would pass the direct advantages of GST, they would have a goal of retaining it partly the indirect benefits from the saving in the form of costs of logistics, streamline of business process and flow of input credits.

#3: Inflation will be low enough

Analysts have no doubt about the fact that inflation will keep low as GST rates on important goods like household consumer items, food grain and other essential services will be either excluded or kept lower. But assuming that GST has the intended impact of increasing tax compliance, the burden of taxes would increase, and this was said by Morgan Stanley in a note. The companies would pass on costs of higher tax compliance to the consumers at a later stage.

#4: RBI might not curb rates in June

Inflation is expected to ease off further with the rollout of GST from a record low of 3% in the month of April and as per analysts, RBI would not lower policy rates immediately. RBI will watch out for monsoon progress and even how the GST pans out. In the last policy RBI has flagged issues that the one-off GST impact might not even be inflationary.

While the GST is going to be positive for promoting economic growth in short term, it will also improve the ease of running a business, luring more foreign investors and bolstering investor sentiment.


Speed: The Key To Satisfying Customers

Satisfying your customers should be the main thing your business thinks about. Naturally, you’ll be obsessed with profits and making money. But, you’ll only achieve that with satisfied customers!

It may please you to know that the key to keeping your customers happy isn’t something complex. As the title suggests, it’s as simple as speed. If you provide a fast service, you will keep your customers extremely satisfied.

How can you do this? Here are some of the best ideas:


Accept Multiple Payments

Whether you’re an online business or a traditional brick and mortar company, you can benefit from accepting multiple payments. Customers sometimes don’t have a certain payment type with them, and can only pay in a certain way. So, you need to cater to this and accept all the different payment types. As you can see in this guide, it’s easy to set your company up so it can accept contactless payments like Apple Pay. This enables people to pay for their phone if they forget their wallet. Likewise, online businesses need to accept PayPal. This is perfect in cases where someone doesn’t have their card with them and can’t memorize their details.

What all of this does is speed up the payment process as people can quickly pay via any method possible and aren’t stuck around trying to count change or look for their credit card.

Save Their Details

This is an idea for online businesses and can speed up loads of time. When someone buys something, they need to input all their details. This includes bank info, delivery info, and contact info. It can take a long time and is a pain to do every time you make a purchase. So, speed things up by allowing customers to save their details. They register their email when they buy their first product, and never have to input any details ever again other than their email and password to log into their account. This leads to faster checkout times, and more satisfied customers.

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Next Day Delivery

Customers are most affected by speed when it comes to delivery times. They don’t like waiting for their products to arrive, and you need to ensure they don’t wait longer than needed. So, you should always have a next day delivery option. Even if it costs money, customers won’t care, they just want things quickly. It speeds the whole ordering process up and means someone can order something today and have it in their hands tomorrow. In fact, soon there will be same day delivery, so you need to get on that as well!

If you operate a fast service, you leave your customers waiting less and less. This makes them happier, as they can enjoy your business without it taking too long for them to get what they want. So, if you’re keen to keep your customers as happy as can be, you should turn your attention to the speed at which you provide your service. Increased customer satisfaction will lead to increased revenue!



How To Position Yourself Long In A Slowing Global Economy

Last year was great for rapid evolvement in online businesses and automation. Now more than ever, consumers are connected with their favorite brands with a new series of internet and social media trends forming. However, economists are now coming to a consensus that in 2017, the global economy will show signs of slowing down for the first time since the crash 2008. Therefore, to stay ahead of the game, you’ve got to position yourself long to avoid becoming embroiled in a boom and bust cycle. Certain business ideas have become the hot topic of 2017 and for good but different reasons. There are plenty of ideas out there, but some are already showing clear signs that they will be sticking around for quite some time.

global economy

Source – SpaceX

SpaceX is futureproof

SpaceX is a private commercial space-transportation startup company born from the brilliant mind of Elon Musk. Founded in 2002 by Musk and operating out of Hawthorne, California, USA, he has personally invested $100 million of his own money into the company to get it launched and sustained throughout the early years. The company is developing partially reusable launch vehicles which are essentially rockets. These rockets are part of a family group called Falcon, and so far the latest version is called the Falcon 9. These rockets have been resupplying the International Space Station with essentials such as food, new equipment, and experimental apparatus. The company has experienced its Series E round of funding with the latest coming in at $1 Bn from Google itself. For any investor looking to go long in 2017, watch out for SpaceX stock might soon go live this year; first come, first serve.

Residential real estate is exploding

When you arrive at the single most rewarding aspect of investing, the balance of risk and reward will never be in your favor as much as investing in real estate. The human population is growing, and due to the wonderful marvel of science, we’re all living longer than ever before. This means that traditional family housing is not being built as fast as previous years, but high-rise contemporary apartments for bachelors and families are. This is the trend that’s emerging now, with more families opting for less expensive homes in state of the art, new apartment communities. With all the benefits of living in the city, new open floor, family home apartments are becoming prime residential property locations as all the features of a luxury home come as part of the package. You can find everything and more in the design of the modern apartments, with regards to spacing, decor, materials, and style that, all the family will enjoy and feel right at home living in.

ecommerce investment

Credit – Mediamodifier

The unstoppable rise of ecommerce

It doesn’t matter if you’re an artist specializing graphic design, or a small business with a bespoke, modern cloud generated marketing company; the only world of ecommerce investment doesn’t look like it will slow anytime soon. Due to how much easier it is for businesses to target and gains vital information about their core audience, the increased demand for ecommerce tools and diversified knowledge is well sort after. More and more shoppers are doing the bulk of their consuming online, filling up their virtual shopping carts at their own leisure from the comfort of their own home. As technology continues to evolve and shape the way we live, 2017 is set to be another year in which online businesses rule the stock market. It’s literally a case of taking your pick; look for the best stock and family group of businesses with the financial backing of the tech giants such as Facebook, and invest in companies that have fleshed out their prospects.

Get On The Front Page of Google By Improving The Online Presence of Your Small Business

In this day and age, we are lucky to have the internet to use to our advantage. It has evened out the playing field for all small business owners. Instead of just competing against each other, and relying on things like word of mouth, they have a real shot at competing against larger businesses, as long as there is an effective online presence. So here are four ways to help you to improve your online presence as a small business owner. You’ll be glad that you did!

Small business


Use Social Media To Your Advantage

Even just a few years ago, a lot of businesses hadn’t even bought a domain name or set up a website, let alone thought about social media. But now, social media alongside a website is really key. Most internet users are going to be on at least one form of social media. And they are going to use those channels to hear your news and updates, give feedback or ask questions. You need to engage with them on there; social media is a two-way street. Listening, replying and commenting on customer’s posts, is a great way to get business loyalty. Customers aren’t going to stick around to a business that they never hear from.

Make Changes Quickly

With reviews and online articles written about your business, depending on the type of business that it is, you can make decisions based on that kind of feedback. It is much easier for small businesses to make changes than it is for larger corporations who have teams of people that need to sign things off. So get ahead of the game and make changes where possible, and as and when they are needed. Being able to retain customers and listen to what they want is a good way to business success.

Start a Blog

Having a blog running on your main website is a great way to interact with potential new customers, as well as engage with your loyal customers. You can share your products or services, as well as share industry insights. Giving tips and tricks is a good way to improve your online presence as people will be searching online for certain things. If your blog has got the answer, then they’ll reach your site through that and know they’ll know your business’s name. So blogging is more important for small businesses than you might think.

Network with Like-Minded People

You need to be getting yourself out there amongst your peers and attending things like trade shows as much as possible. You need to get to know your peers and competitors. Even better if you can get yourself to the point where you are a resource for your peers, and they consider you to be a thought leader. They are more likely to recommend you or link to you if they know that you offer valuable content for their customers. When you are a small business owner, sharing knowledge will help to earn you plenty of good karma!

8 Ways You Can Get As Much Cash As Possible For Your Home

If you’re selling your home, then of course you want to ensure you get as much cash as possible. These 8 tips will be a huge help in ensuring you get what you deserve for your home. Read on to find out what you need to do:

  1. Set A Reasonable Starting Price

Many people go about setting a much higher starting price for their home than they really want. They do this because they think that people will haggle with them anyway, and want to ensure they get a reasonable amount. However, setting a starting price that is too high can deter buyers, and real estate agents may think you’re unwilling to negotiate. Make sure you set a reasonable starting price so you don’t scare buyers off.

  1. Make Sure Your Curb Appeal Is Up To Scratch

Your curb appeal should be up to scratch if you’re going to get as much as possible. Make sure it’s tidy. Get rid of weeds, and plant new flowers. Make repairs. Add new slabs, maybe even a new letter box. Paint your door. There are all kinds of things you can do to improve your curb appeal.

Flower Door


  1. Use All The Senses In The Buying Process

The buying process usually has a lot to do with the experience a potential buyer has in the home. If you help enchant all of their senses, they will be more likely to put in an offer. This is why many people bake fresh bread or cookies. It makes the house smell great and makes a potential buyer feel at home!

  1. Clear It Out

Make the house as empty as you possibly can. It might not be possible to get rid of all of your belongings, but be really vigilant. The emptier the space, the more a potential buyer will be able to see what they can do with the space. This includes clearing out storage areas.

empty house 08


  1. De-personalize

Take down pictures of friends and family. Make kid’s rooms look neutral. De-personalizing might not be a nice experience, but it’s going to ensure a potential buyer can picture themselves in this house, and figure out what they can do with it. You can make it difficult for them if you fail to de-personalize.

  1. Be In It For The Long Haul

You may need to be prepared to have your home in the market for months if you want to get as much as possible for it from a potential buyer. The only other option if you want to sell your house fast, is to sell to a home buying company.

New Dutch Oven!


  1. Make Repairs and Renovations

If you can make repairs and renovate important rooms like the bathroom, it’ going to be more attractive to potential buyers. If you have added new features and modernized the place, chances are, you’ll get a higher offer.

  1. Replace Appliances

Replace certain appliances with star rated energy appliances and buyers will be more interested then, too. It gives a potential buyer one less thing to worry about when they move in.

If you don’t want to go through the hassle of doing all of these things and sell as quickly as possible, then you may just need to find a company that will give you cash for your home. Thanks for reading!

Has Trump been successful in generating hopes of financial growth in the US?

President Trump’s election was followed by the promise of a significant fiscal stimulus and hopes (not promises) of income-tax cuts. The financial outlook throughout the month of December has remained consistently positive till now.

An overall positive financial outlook prevails

Marketers are actually busy seeing a very rosy picture – as far as every sub-sector is concerned-interest rates, stocks and credit derivatives. For them things are much better than what they were in November.

Talk about the market for the interest-rate futures and let us tell you that traders were lately busy speculating the economies that will register a fast growth. They were increasingly betting on a 1.6% rise in US dollar deposit rate by December 2017.

Are they being hopelessly optimistc?

Lately, Americans have demonstrated a significant degree of confidence in the financial health of corporate America. It’s quite strange to note that such kind of confidence persisted even when the five-year default insurance cost on $10 million in debt fell to $68,000 from $76,000 in early November.

It would be wrong to claim that investors are irrationally hopeful about tax-cuts and deregulation under Trump’s regime. Trump’s promises of fiscal stimulus have even encouraged the Organization for Economic Cooperation and Development to estimate a 0.4 percentage point to the country as far as economic growth in 2017 is concerned. Add to it the corporate tax cuts proposed by the President. Corporate profits are tipped to go up thereby justifying lower costs of default insurance and higher stock years.

So much depends on Trump’s implementation of plans Though Trump’s financial plans have encouraged an overall positive financial outlook, it remains to be seen how he chooses to implement these plans- because everything will depend on that. His plans are still considered vague and brook chances of going horribly wrong as well. However, there is overall low probability regarding such outcome.

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Donald Trump’s victory and some financial lessons to gather – Staying safe & protected

Who could have thought a year back that the new President of United States of America would be Donald Trump? He announced his candidacy in 2015 June in an event where he called Mexican rapists and before that he wasn’t considered anything better than a slideshow. In the year 2012, he contemplated a run but then decided to go against it, his political goals were made fun of on cable television.

Noone knows what’s in store for the upcoming year. Hence, there are definitely some lessons which the investors and consumers can learn from this election. What are some of them? Read on to know about some such financial lessons.

Lesson #1: Expect something that you’ve never expected

It is true that none of us can foresee the future with 100% positive and accurate results. Just as meteorologists struggle to only forecast the weather for a few upcoming days, investors and politicians also do the same. Just as you think you have figured out everything, stay prepared to incur more losses. This gave birth to the phrase ‘Black Swan’ in the financial market which is an event, either negative or positive which is not considered as something very probably but which leads to some massively bad results.

A few weeks ago, the election seemed like a foregone conclusion but then we saw a dramatic change in the results. Investors should learn from this and understand the fact that events occur and it is not possible for anyone to foresee and predict everything correctly. If you want to incorporate this particular lesson into your investment portfolio, diversify your assets. Don’t have all your nest eggs at the same place.

Lesson #2: It is extremely important for investors to manage risk

Hillary Clinton was considered as the ‘risk’ and Donald Trump as ‘uncertain certainty’ and the win of Trump clearly indicates that the market hates ‘risk’ more than ‘uncertainty’. For the first time, the electors chose a candidate who they expect will cause as less damage as is possible to the nation. Doesn’t this seem to be similar to the goal of the investor to minimize the risk?

Here too, investors can take away few lessons among which the most important is diversification of portfolio. Volatility should be decreased and this can be best done through diversification of portfolio.

Lesson #3: Don’t count blindly on the trends and predictions

Though this sounds simplistic but the idea of ‘reversion to the mean’ is definitely one of the most important concepts in the investment industry. The main idea followed by the investors is that the sectors which don’t perform well as compared to the long-term historic averages will basically go through a period of short term outperformance.

If you follow the trends and always keep believing that everything is true which you reach in the news, this can result to a sense of fear. Whether it is politics or investment, it is vital that you carry on with your own research and try to shape an opinion of your own. There are times when the underdog sectors, stocks and mutual funds may become great leaders in the upcoming years to come.

So, now that Donald Trump is the President-elect of United States of America, you as a layman, can learn the above mentioned financial lessons from the episode of elections that we recently witnessed. Stay aware of the stocks and mutual funds and don’t forget to diverse your investment portfolio so much so that you can always earn income from any of your financial assets.

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