Page 22 - Banking Finance July 2017

PRESS RELEASE

HDFC Bank to organise GST workshops across India

HDFC Bank Ltd is organising awareness workshops on Goods and Services Tax (GST) across India. These workshops will
educate traders, merchants, and businessmen on the uniform indirect tax
under GST, which is slated to come into effect on July 1, 2017. More than
500 workshops will be held at over 300 towns and cities in the coming time.
GST is proposed to be a comprehensive indirect tax on manufacture, sale,
and consumption of goods as well as services at the national level.
Introduction of GST will make India one unified market and replace all
indirect taxes levied on goods and services by central as well as state
governments.
As part of this initiative, HDFC Bank will educate traders, merchants, and
businessmen in following areas:
X Introduction and benefits
X Procedures for registering
X Workflows and case studies
“As the nation moves towards ‘One Nation - One Tax’
with the rollout of GST, we as a socially responsible
corporate citizen are happy to contribute in educating
the business community on the merits and processes of
GST. The workshops to be held at over 300 towns and cities will give the audience an in-depth look
into GST, with workflows, case studies,” said Mr. Navin Puri, Country Head - Branch Banking, HDFC
Bank Ltd.

HUDCO and EPFO sign MoU to facilitate HFA Mission

Dr. M Ravi Kanth, Chairman & Managing Director, Housing & Urban Development Corporation (HUDCO) and Dr. V.P. Joy,
Central Provident Fund Commissioner,
EPFO, signed an MoU in the august
presence of Hon'ble Minister, Housing &
Urban Poverty Alleviation, UD & I&B,
Shri M Venkaiah Naidu and Hon'ble
Minister of State (Independent Charge),
Labour and Employment Shri Bandaru
Dattatreya for facilitating Housing for
All Mission. In this regard, Employee
Provident Fund Scheme 1952 has been
amended to facilitate withdrawal of
90% of Employer /Employee
contribution for Housing purpose.
Further, dovetailing of CLSS subsidy
under Pradhan Mantri Awas Yojana
(Urban) and housing loans through
HUDCO Niwas to the EPF subscribers is
envisaged. EPF will also facilitate
payment of EMI towards housing loan from EPF contribution of member. HUDCO & CBT (EPF) will jointly disseminate
information regarding benefits under PMAY (U) - CLSS to EPF members throughout the country.

22 | 2017 | JULY | BANKING FINANCE

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