What are the CONSEQUENCES of china's one child policy ?
The consequences are a very steep fine, that is enough of a deterrent for most of the population. However, the celebrities and the wealthy are able to afford this, so this year, the Chinese government is trying to change the laws, so it can impact the wealthy as well! Good Luck, ;-)
Did anyone attend the brand factory sale which gave clothes worth Rs. 5000 in Rs. 2000 and additional offers?
Here are a few things about the saleThere’s a mad crowd to get in, while shopping, outside trial rooms and in queue to pay. Expect to spend a few hours just standing aroundBecause it looks like the universe suddenly entered the Brand Factory to shop, you may not find your fit easily.The ‘festival’ lasts for a few days and unless you are among the first to shop you’ll find that a lot of good stuff is gone.They aren’t mad to run a sale and offer stuff for free right? So what’s the catch? Looks like there is a lot of old stock and outdated stuff that seems to be pushed out in the name of fashion.The ‘MRP’ on unheard brands can be crazy high. Which means, you may have 5 pieces of clothing for 5kAccording to this Economic Times story, they may now charge a fee for you to enter the shop during salePro tipsPlan before you shop. What all do you want to buy? Strike that list. Open your wardrobe. Make a list of all that you need. Then edit the list to things that can be mixed and matched with a number of outfits. Don’t expect a lot of ‘fashion’ in this sale. Go fore generic items which will be easier to find.Visit the store once before the sale. Understand the store layout and where the items you want are likely to be. This might change during the sale but still worth a try to familiarize yourselfKnow your size for different brands. Its saves a ton of time trying out things. The sale will have a lot of brands you’ve not heard of before too.Hope this helps. For some specialist shopping experience, try Shopkhoj to know more about the shops in your city.
What do FIT, IIT, and GIT mean in the tourism industry?
FIT has two levels of meaning. The Wikipedia page defines one, but alludes to the other.FIT means Free Independent Traveler or Free Independent Tourist. An FIT is an individual (or small group of < 10) traveling and vacationing with a self-booked itinerary. FIT travel isnot done as a member of a traditional guided tournot via a marketed package combining transport (air, rail or bus), lodging/ hotel, entertainment or local transport (rental car for use at destination).The second meaning for FIT enters here, Free Independent Traveler, See also on the page you cited. It is a link to none other than The Long Tail: The term Long Tail is the retailing strategy of selling a large number of unique items in relatively small quantities...popularized by Chris Anderson in Oct 2004. He mentioned Amazon and Netflix as examples of businesses applying this strategy. Where the cost of inventory storage and distribution is high, only the most popular products are sold. But where the Long Tail works, minority tastes become available and individuals are presented a wider array of choices.The Long Tail presents opportunities to offer niche category products. For the travel industry, the business model is driven by prominence of FIT's. The Long Tail of Travel emerges in the presence of some or all of the following:wider access to information e.g. the internet,word-of-mouth to establish trust in taking "the path less traveled", sometimes facilitated by social media,lowered jet fuel costs andstable consumer finances.Chris Anderson analyzed 10+ years of historical data to see if there were a Long Tail effect in travel and corresponding increase in numbers of FIT's in the tourism industry. His findings, along with Clay Shirky's, were dissected rather thoroughly by Wharton grad school professors.I was thinking about this too! See Long Tail Tales summarizing Chris Anderson's original FIT work (with links), as well as my own thoughts on why FIT's importance to tourism may diminish, until the time is right again.GIT and IITSee Graham Harrison's quite nice answer regarding GIT and IT:ITX is "Inclusive Tour eXcursion (fare)"GIT means "Group Inclusive Tour (fare)"FIT means "Fully Inclusive Tour" when the fare used to create it may be ITX or GIT Also see What does GIT mean in the tourism industry? and What does FF-IT mean in the tourism industry?
What about trade discounts and cash discounts after GST?
Taxability of discounts under GST has been a point of confusion in the industry despite the law being very clear on the issue.GST law does not distinguish between trade discounts, cash discounts, volume/turnover discounts, etc.. Instead, it classifies discounts into:Discount given before or at the time of supply, andDiscount given after the supply has been effected.The treatment and taxability in both these cases are as below:Discount given before or at the time of supply: Such discount will be allowed as deduction from the value of supply if it is recorded in the invoice.For example, at the time of sale for Rs.1,000, you provide a discount of 10%. While making the tax invoice, you must specify the price as Rs.1,000 and deduct discount of Rs.100 through a separate line item, and arrive at the taxable value of Rs.900. Apply the GST rate on Rs.900 (value after discount) to arrive at the GST to be collected and remitted.Discount given after the supply has been effected: These discounts are generally of the nature of periodical turnover/volume discounts or incentives, allowed for buying a particular value of goods/services during a period. Such discounts will be allowed as deduction from the value of supply only if the following conditions are satisfied:There must be written agreement between the supplier (seller) and the receiver (buyer), prior to the time of supply, mentioning the discount that will be allowed. Further, such discount must be mapped to the the relevant invoices against which such discount is being given now.The receiver (buyer) must have reversed the Input Tax Credit pertaining to the discount he is now receiving.Using the same figures from the earlier example, if the discount of Rs.100 is being allowed after the sale has been effected, there must be an agreement showing that the discount is not an after thought but an already agreed upon issue. Also, the discount must be mapped to the relevant invoice(s) and the buyer must reverse the ITC with respect to this Rs.100, in case he has claimed ITC on the whole amount of Rs.1,000.If the conditions are satisfied, the seller can raise a Credit Note for the amount of discount along with the GST thereon, and the buyer will raise a corresponding Debit Note. This way, the supplier’s value of the supplies for the month will be reduced by Rs.100 for that month and consequentially he will not be paying GST on the discount.Hope this clarifies.