jewellery to become cheaper as TCS to be excluded in computing GST

In a relief to buyers of high value cars and Cheap Jewelry Websites, the CBIC has said that the TCS amount would be excluded from the value of goods for computing GST liability.
Under the Income Tax Act, tax collection at source (TCS) is levied at 1 per cent on purchase of motor vehicles above Rs 10 lakh, jewellery exceeding Rs 5 lakh and bullion over Rs 2 lakh. TCS is also levied on other purchases at different rates.
The Central Board of Indirect Taxes and Customs (CBIC) in a circular said that the TCS amount would be excluded from the value of goods while computing the Goods and Services Tax (GST) liability.
Earlier in December, the CBIC had said that the TCS amount would also be included while ascertaining the GST liability on goods on which TCS is applicable under the I-T Act.In view of the representations received from various stakeholders and after consultation with the Central Board of Direct Taxes (CBDT), the CBIC has decided to exclude the TCS amount paid while valuing the goods for the purpose to levy GST.
The CBDT has clarified that TCS is not a tax on goods but an interim levy on the possible "income" arising from the sale of goods by the buyer and to be adjusted against the final income-tax liability.
"For the purpose of determination of value of supply under GST, Tax collected at source (TCS) under the provisions of the Income Tax Act, 1961 would not be includible as it is an interim levy not having the character of tax," the CBIC said.
EY India Tax Partner Abhishek Jain said: "This clarification comes as quite a relief for businesses specifically the automotive sector. While most industry players already believed that GST should not be levied on the Income tax TCS component, given the otherwise clarification by the Government, they were quite apprehensive of litigation on this aspect".
AMRG & Associates Partner Rajat Mohan said the erstwhile circular issued by the CBIC unnecessary complicated the mechanism of calculating GST where TCS-Income tax was also collected by the supplier.

JEWELLERY TRENDS GO CHEAP AND CHIC

A new trend has emerged among fashionistas. Big spending is out, and cheaper Cheap Jewellery Shops is in. As BIANCA MANGION reports, sterling silver makes the perfect partner.
Thinking twice before succumbing to the fickle whims of seasonal trends, today’s style-lovers are holding on to their clothes and accessories for longer before discarding them, or finding novel ways to get new gear – like clothes-swapping parties, where they meet with their friends to exchange pre-loved clothes and socialise, too.
The style-and-budget-conscious are also more closely scouring the racks of major discount department stores like Target and Big W, where the range of affordable style has notably increased. So much so that high-end brands like Stella McCartney, Napoleon Perdis, Zac Posen, and Morrissey have all created limited-edition lines for the stores.

“I’ll put my name on whatever is appropriate at the time,” Aussie designer Peter Morrissey told SMH upon the announcement of his new underwear range for Big W – to be launched in October. “It would be irresponsible to create (an expensive) collection when people can’t pay their mortgage. I haven’t become mass market, I’ve become humane.”

Jewellery is no exception. “Bling on a budget” or “bang for your buck” are the new catch-cries of many suppliers and designers who think it wise to offer timeless style at an affordable price. Of all the metals most suited to this, silver shines brightest.

“Silver has become a most sought-after metal in recent times, mainly due to its lower price point,” reports Julie Kiefel, purchasing and sales at XS Jewellery. “Now more than ever, customers are looking for good value and quality as the global economy continues to peak and trough. With silver, retailers can offer unique and fresh new jewellery in a precious metal, at comparable prices to fashion jewellery.”

Vina Lambert of Pinaroo jewellery – a supplier getting set to launch her new, self-titled branded range – aims to provide her customers with an affordable alternative to fine jewellery that she believes will last for years.

“Our range is selling to those who would normally spend on gold and diamonds because they look almost identical,” Lambert says. “These designs appeal to the fashion conscious on a budget.”

Also new to the sterling silver market – albeit on the retail side – is Magnolia Jewellery, an international chain store stocking only sterling silver. The Israeli brand has just hit Australia. With several stores throughout Sydney and Melbourne already, Magnolia plans to have 14 stores through New South Wales, Victoria and Queensland by the end of 2009 – perhaps signalling the viability of silver on these shores.

Zynga Launches First-of-its-Kind Game of Thrones Slots Casino

Today, Zynga Inc. (ZNGA), a global leader in interactive entertainment, announced that Game of Thrones Slots Casino has launched globally on the App Store and Google Play, with versions for Facebook and the Amazon Appstore coming soon. A new entry to Zynga’s social casino portfolio, the game transports players to the realm of Westeros for an authentic, social slots experience inspired by the acclaimed Game of Thrones television series from HBO®.newest online casinos
In Game of Thrones Slots Casino, players are immersed in the epic drama, arresting dialogue, iconic characters and driving musical themes of the series. From cliffhanger moments across the Seven Kingdoms, to sweeping landscapes and locations like The Wall, the best-in-class slots gameplay is infused with the fire and ice atmosphere of Westeros and its most illustrious inhabitants, including Cersei, Jaime, and Tyrion Lannister and House Stark members, Sansa, Arya, and Jon Snow.

“As longtime fans of the series, Zynga is honored to contribute to the Game of Thrones universe, and honor-bound to provide players with an experience that reflects the scale, scope, intensity, and community of the series,” said Bernard Kim, President of Publishing at Zynga. “The visual and audio design of the game truly evokes marquee moments from the series, and with our House-themed social features, players can band together to chase the throne themselves. Westeros lives on!”

Exciting social features and in-game chat in Game of Thrones Slots Casino allow players to band together to seek the seat of power and all of its rewards. By joining or forming their own House, players work with their brethren to rally through an interactive map of the Seven Kingdoms. In the weekly ‘For the Throne’ challenge, Houses are challenged to conquer each territory in turn, in a play to rule them all. The player from the victorious House that stays on top until the end of the challenge gains the right to sit atop the Iron Throne – until a new challenger claims the crown.

Casino Software Providers

A favorite pastime of millions of people across the world, gambling offers plenty of thrills and excitement, not to mention for some, it has become somewhat of a professional occupation. Thanks to the advent of the internet and computer technologies in the mid 1990s, casino enthusiasts are no longer required to leave their homes in search of a landbased venue where they can wager on their favorite games.new online casinos

A lot has changed since the first casino was introduced to the web. Today, there are over 1500 online gambling operators, providing players the world over with hundreds of quality casino games to choose from. It matters not whether you are interested in slots and arcades or prefer to wager on traditional casino games like blackjack, poker, and roulette – chances are you will find exactly what you are looking for at one of the many online casinos out there.

Gambling enthusiasts have gaming software providers to thank for the plethora of enticing titles their favorite online casinos boast. Without the likes of Microgaming, Playtech, Net Entertainment, Realtime Gaming, and Betsoft, there would be no online gambling industry. Driven by their passion for gaming, as well as by their desire to deliver unprecedented quality in every possible aspect, these software developers allow players the chance to enjoy a vast variety of high-end casino games at all times, from the comfort of their surroundings.

Why no table games at new South Bend casino?

For those who head to opening night at Four Winds on Tuesday, a question may arise.Why doesn’t Four Winds South Bend have table games?Within the tribal casino industry, specific federal regulations impact the types of games that can be played at a given casino.The Indian Gaming Regulatory Act, passed in 1988, established three classes for tribal casinos and the games that are permitted in each.new casinos

Four Winds South Bend is a Class II facility, permitting the playing of bingo, and subject to regulation by tribal government and the National Indian Gaming Commission. Class II facilities are not permitted to offer table games or traditional slot machines.

But a player who sits down at one of the machines at Four Winds South Bend will see a version of bingo that seems very similar to typical slot machines.

“In truth, they’re not slot machines. They’re not the same thing,” said Travis Waldo, director of technology at the National Indian Gaming Commission. “The primary difference is with a class II machine, you’re playing essentially electronic bingo. That means that you’re playing against another person, bingo takes two people to play.”

Advancements in electronic bingo technology have meant that, for a gambler, the difference between a Class II machine and a traditional slot machine are minor. But at the root of the machines, there is a significant difference.

According to Waldo, Class II machines have a few primary requirements. They have to be constantly connected to a house server, players must have other players to play against and the machine must display a bingo card.

“Game determination is based on a winning bingo pattern derived from a server in the back of the house,” Waldo said. “The games are very similar in the way that they are visually represented in the cabinet itself.”

In a traditional slot machine found in commercial casinos, the machine can operate independently of a house server.

Waldo also said that certain types of video poker can be played at Class II casinos, but that they too are governed by predetermined holds in the casino's server.

"It will still be a game of chance," Waldo said. "In a Class II, you'll typically see more consistent wins and more consistent payouts, but jackpots are a little smaller. People tend to like that Class II a lot better."

For the player, these regulations may not make much difference in their experience on a machine. But for Four Winds South Bend to host table games and traditional slots, the Pokagon Band would have to negotiate a gaming compact with the state of Indiana, agreeing to share a portion of gambling revenues.

In Michigan, the tribe already has a compact. Table games can be found at Four Winds New Buffalo, Dowagiac and Hartford. But the compact means the tribe has to pay 8 percent of its slot revenues, according to Spectrum Gaming.

Bob Moody, vice chairman of the Pokagon Band of Potawatomi Indians, said the band hasn’t initiated any compact negotiations with Indiana.

Vaporesso Gets Two Products Certified by UL Labs

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is proud to announce that our products Tarot Nano and ZERO have passed the certification given by UL lab with the ANSI/CAN/UL 8139 standard for their trustworthy quality and guaranteed safety.

With the first international standard for electronic cigarettes and evaporators, ANSI / CAN / UL8139, UL lab has helped many companies demonstrate the safety of their products, confirm the compliance of their production processes, increase the transparency of management, and protect brands image and reputation to help companies achieve sustainable development. Also, UL lab will also pay attention to the working environment issue and CSR, in this way to guide the company to develop in a positive direction.

VAPORESSO has always been very strict in the quality requirements of products, which is why we have the lowest product rejection rate in the entire vaping market. Through the cooperation with UL lab to test our products, VAPORESSO has not only successfully passed all relevant tests and obtained relevant certificates, but also once again demonstrated to our customers that we are an international brand with confidence and ambitious goals through this global authoritative platform.

During the close work with UL lab on ANSI / CAN / UL8139 standard, VAPORESSO also listened to the pertinent suggestions and opinions from UL lab, and carefully reviewed this valuable feedback, making them the strongest support for our follow-up product improvement and continuous innovation.

For the products Tarot Nano and ZERO, these two devices are both designed to be user-friendly yet adopting many advanced technologies. The market performance of them is another convincing evidence to prove the efforts given by VAPORESSO.

The mission of our company is focusing on building the world's leading atomization technology platform, Therefore, VAPORESSO will continue to deepen its cooperation with UL lab to create better, safer and more extraordinary vaping technologies for our customers.
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How Can I Invest in Vape Stocks?

The vape wholesale supply market is growing -- the global industry that includes vaping is forecast to expand from less than $10 billion now to over $50 billion by 2025 -- and many are looking to invest in this trend. While this new and purportedly less harmful take on smoking has gained momentum, investors should be leery about jumping aboard the bandwagon.

Stiff government regulations and education campaigns around the world to alert people to the dangers of smoking have helped push the number of cigarettes sold down despite how addictive they are. Global sales volumes have declined from a peak of about 5.8 trillion cigarettes in 2012 to 5.5 trillion sold to 1 billion smokers in 2015. The number of cigarettes sold is expected to decrease another 5% over the next five years, or a reduction of roughly 275 billion cigarettes.

Tobacco companies have more than made up for volume declines with price increases, and new technology has emerged to appeal to those kicking (or trying to kick) the cigarette habit. So-called reduced-risk tobacco products include vaping devices that heat a flavored, nicotine-infused liquid into a vapor that is inhaled and heat-not-burn (HNB) devices that heat real tobacco to deliver a vapor that tastes similar to a conventional cigarette.
The various e-cigarette products are still subject to regulatory scrutiny, but big tobacco companies have been diligent in their studies to try and prove that vaping is a lower risk habit than smoking and Philip Morris says its heat-not-burn IQOS device heats tobacco to much lower temperatures than a traditional cigarette and thus "the levels of harmful chemicals are significantly reduced compared to cigarette smoke." It's asked the FDA to deem the device, which will be marketed in the U.S. by Altria, a "modified risk tobacco product."
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Will an E-Cigarette Ban Do More Harm Than Good?

Ecig Wholesale have been at the center of a heated debate among policymakers, parents, and the public health community. On one hand, research shows that e-cigarettes are substantially safer than cigarettes, delivering nicotine through a vaporized mist rather than burning tobacco—which creates cancer-causing toxins. On the other hand, a surge in youth vaping in recent years has raised questions about teens getting hooked on nicotine and what the long-term health impact of e-cigarettes will be. But since vaping products have not been on the market long enough, the precise effects may not be known for decades.
David Abrams and Ray Niaura—both professors of social and behavioral sciences at the NYU College of Global Public Health and co-directors of the Tobacco Research Lab—have collectively spent nearly 75 years studying how to help people quit smoking and keep teens from starting. Together, they have written an award-winning handbook for health professionals on smoking cessation, published more than 700 articles in peer-reviewed journals on topics such as graphic cigarette warning labels, menthol cigarettes, and having a parent who smokes, and served as presidents of the Society for Behavioral Medicine (Abrams) and the Society for Research in Nicotine and Tobacco (Niaura).
In recent years, their focus has turned to e-cigarettes: a 2017 study in the journal Tobacco Control co-authored by Abrams and Niaura found that if most American smokers switched from cigarettes to vaping over the next 10 years, it could save as many as 6.6 million lives.
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San Francisco’s e-cigarette ban isn’t just bad policy

Anyone over 21, and with an ID to prove it, can purchase cigarettes, booze and even marijuana in retail establishments across San Francisco. But as soon as next month, one age-restricted product won’t be available for purchase, not even online. That’s because San Francisco officials, in a misguided attempt to curb teen vaping, are moving to ban sales of all electronic tobacco products to anyone within the city until the federal government adopts regulations on them.
The San Francisco Board of Supervisors gave a tentative thumbs-up to the ban last week, and the supervisors are expected to reaffirm their support in a final vote Tuesday. We hope the supervisors will see the light before then. Not only is it bad public policy to outlaw a legal product that’s widely available just outside the city’s borders, but it’s bad public health policy to come down harder on the lesser of two tobacco evils.
Electronic Cigarettes are new enough that we don’t fully understand the health effects from vaping, which involves inhaling the fumes produced by heated liquid nicotine. Nicotine in any form comes with health risks. But it’s well established that smoke from conventional combustible cigarettes can kill both smokers and bystanders, and that some longtime smokers have been able to quit that deadly habit by switching to vaping.
Granted, teen vaping is a serious concern. While smoking rates have dropped significantly among U.S. middle school and high school students — they’re down to just about 8% — electronic cigarettes are gaining popularity rapidly. In less than a decade, e-cigarette use among U.S. teens has soared from less than 2% to more than 20%. In just one year, from 2017 to 2018, teen use increased by 36%. The Centers for Disease Control and Prevention reports that, as of 2018, about one-fifth of all U.S. high school students reported using an electronic cigarette in the last 30 days. By comparison, San Francisco’s Youth Risk Behavior Study determined that as of 2017, just 7% of the city’s high schoolers had reported vaping in the last 30 days.
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AAP policy calls for reforms to combat rise in youth e-cigarette use

Electronic Cigarettes Wholesale have exploded in popularity among teens over the last decade, making them the most common tobacco product used by youths. According to 2018 data, one in five high school students and one in 20 middle school students use e-cigarettes, a 75% increase from 2017.

As a trusted source of health information, pediatricians can educate patients and parents about the harms of these products to prevent youth initiation and guide treatment options for tobacco users. Implementation of proven population-based strategies, in coordination with Food and Drug Administration (FDA) regulation of tobacco products, is key to reducing all forms of tobacco product use, including e-cigarettes, among U.S. youths.

The updated AAP policy statement E-Cigarettes and Similar Devices summarizes the latest evidence on the health harms of e-cigarettes and supports both clinical interventions by pediatricians and policy strategies to protect youths from the epidemic of e-cigarette use.
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