Funeral Finance – Memorial Memories Fri, 15 Apr 2022 14:32:52 +0000 en-US hourly 1 Funeral Finance – Memorial Memories 32 32 Credit trap: debt and dispossession in Central Asia Wed, 16 Jun 2021 06:04:32 +0000

Since 2006, illegal debt collection agencies have flourished in Kazakhstan, where besides only 193 officially registered agencies, at least a thousand operate illegally. In 2019, the country’s banks sold problematic loans worth 611.6 billion tenge ($ 1.4 billion) to collection agencies. Publication on Kazakh social networks video and voice recordings denounce the abuses of these agencies, including physical assaults.

A 2019 video shows a young male collector from Almaty’s unregistered collection group threatening a young debtor, calling her a “dirt-eating trash” and “mistake” that shouldn’t have been born. When the young woman filed a complaint, he and two accomplices assaulted a senior partner at the law firm who helped her, breaking her nose and ribs. In the same year, Kazakh courts examined 353 complaints against debt collectors. The maximum penalty for debt collectors who break the law is 180 hours of correctional work. As a result, private collectors continue to act with impunity, using threats and physical force to collect debts.

Recently, private debt collection companies have been able to open private law enforcement agencies to increase their enforcement powers. Debt collectors can now access state and commercial debtor databases and can use extended legal powers, such as seizing property, auctioning, accessing bank accounts and imposing restrictions on debt. trip.

Access to debtor records is responsible for the development of sophisticated fraudulent tactics to “collect” debt. For example, in a recent case, a debtor and mother of five was on a waiting list for state-subsidized housing. One day, she received a phone call informing her that her application had been approved, but the documents were on hold due to her pending loan. She was asked to borrow money to repay the bank loan in order to complete the process. After paying off the debt, she learned that she had been scammed by debt collectors.

Economic inequalities in Central Asia are among the highest in the world. Debt shifted income from the poor to the rich, in what Michael Hudson wisely calls a regressive form of income distribution. Between 1995 and 2012, microcredit was responsible for transfer up to $ 125 billion from poor communities in the Global South to financial centers in the Global North, a regressive distribution of global wealth partly achieved at the expense of poor rural women.

In Central Asia, women tried to resist debt bondage, but their resistance did not bring significant changes to predatory lending practices in the region, as governments cracked down on protests, while indebted women took to task. often been demonized and stigmatized by the media as unscrupulous and irresponsible. borrowers lack financial discipline and knowledge.

The power imbalance between lenders and borrowers is enormous, and indebted women alone cannot shoulder the global power of financial institutions. The passivity of people towards the regulation of finance reflects the degree to which the neoliberal moral order has come to be accepted as just and natural. The task of global anti-debt movements such as the Tax Justice Network and the Jubilee Debt Campaign is therefore to challenge the power of finance and call for progressive alternatives.

This global coalition must overcome the economic and moral hold of finance on society, so that finance serves the well-being of the people rather than the economic interests of the lenders.

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Obituary: Robert (Bob) Haskell Kelso, 86, from Wilton Wed, 16 Jun 2021 00:40:00 +0000

Information Courtesy Maison Funéraire Bouton

WILTON, CT —Robert (Bob) Haskell Kelso passed away peacefully at home on June 6, 2021 at the age of 86. He leaves behind his 59-year-old wife Luisa, son William and wife Allison, son Robert and wife Karen, and beloved grandchildren Andrew, Ella, Sydney, Abigail and Merritt. Bob is also survived by his sister Jean Senjor, his sister Ruth Thomas and her husband Roger, his sister Anne Tittler and her husband Bob, his cousin George (Skip) Haskell and his wife Karen and his cousin Judy Gill and her husband John.

Bob was born in Sewickley, Pa., Son of D. William Kelso and Pearl Winifred Haskell, and raised in Ambridge, Pa. He graduated from Oberlin College in Ohio in 1956. He proudly served in the US Army in Korea in the Military Intelligence Corps. After completing his military service, he graduated from the Wharton School of Business at the University of Pennsylvania and began his accounting career with Arthur Young. He pursued a career in finance working for Trans World Airlines and American Airlines and as CFO of several companies including Moore & Munger, Inc. in Fairfield Connecticut. In retirement, he was president of Cross Oil, a specialty refinery. He had long resided in Wilton Connecticut, where he and Luisa have resided since 1979. His two sons are graduates of Wilton High School.

Bob had a passion for travel and was always planning his next trip. He traveled with Luisa to all seven continents, including Antarctica in 2017, which included a heart-wrenching sea voyage around Cape Horn. He and Luisa made frequent bicycle trips to the United States and Canada.

Highlights of his international trip included: China, Peru, Amazon, St. Petersburg and many other cities in Europe, Singapore, Tanzania and Australia where he was able to visit his son Rob and his family before they moved back to Wilton in 2014.

While his passion was traveling, he dedicated his life to service where he used his financial talents after retirement. He served in the Citizens Democracy Corps in Bulgaria in 1996, helping businesses convert to a market economy after the breakup of the Soviet Union. Bob served for 10 years on Wilton’s finance board, four of which were as chairman. He has also held various other positions in the City of Wilton, including on the Zoning Board of Appeals and as Chairman of the Pension Investment Committee.

Bob was an active member of Wilton Congregational Church and served in many volunteer positions at the church, including that of general president. He has also served as Treasurer and Trustee of the Wilton Library, Trustee of the Wilton Historical Society, and a founding member of the Board of Directors of Stay at Home in Wilton.

Bob will be buried at Hillside Cemetery in Wilton. In lieu of flowers, donations can be made in memory of Bob Kelso to the Wilton Library, 137 Old Ridgefield Road, Wilton Connecticut 06897 and Wilton Congregational Church, 70 Ridgefield Road, Wilton Connecticut 06897.

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Gregory Edward Forbes | Obituary Tue, 15 Jun 2021 22:00:00 +0000

Gregory Edward Forbes, 52, of Parsons died suddenly at 8:17 a.m. on Saturday, June 12, 2021 in Labette Health.

Greg was born June 12, 1969 to Michael and Evelyn (Morris) Forbes in Kansas City, Missouri. At the age of 4, Greg moved with his family to Parsons. He attended St. Patrick’s Catholic School and graduated from Parsons High School in 1987. After high school, he attended Labette Community College and then Central State University in Edmond, Oklahoma, where he attended obtained a bachelor’s degree in mortuary sciences.

At the age of 14, Greg began working in the funeral service. After graduating, he returned to Parsons and put to practice his talents and training as a funeral director, embalmer and life insurance agent. On July 6, 2000, Greg and Marlan Hoffman established the Forbes-Hoffman Funeral Home in Parsons. In 2004, the partners expanded the business by purchasing Bath Funeral Homes in Altamont and Chetopa.

Greg was an active, lifelong member of St. Patrick’s Catholic Church. He was a fourth degree member of the Knights of Columbus. He has served on the church finance committee, the St. Patrick Catholic School auction committee, and the school council. In 2016, Greg was recognized as the recipient of the Labette Community College Distinguished Alumni Award for his dedication to the local community as well as his good business practices. He was also a member of the Kansas Funeral Directors Association, the National Funeral Directors Association, a former member of the United Way Advisory Board of Labette County and Presbyterian Manor.

An incredible number of people have been touched by Greg’s genuine nature and kind and gentle spirit. He was dedicated to caring for his neighbor in life and death with the utmost respect and the highest level of compassion. He has helped countless families in our community in the midst of their darkest times with such grace and poise. Besides seeing her work as a vocation, the most important things in her life were her Catholic faith and her family. He will be sadly missed for his loyalty, friendship, professionalism, kindness and good humor.

Greg enjoyed boating, being by the lake with his family, attending his children’s sporting events and relaxing watching his favorite show “Seinfeld” with his family. He was also very proud of the 1968 Dodge Charger from his high school years which he had recently restored.

On November 26, 1994, Greg and Audrey Scoggins married in St. Patrick’s Catholic Church in Parsons. Their love story began in childhood, when they lived opposite each other. They were lucky to have 26 years of marriage, four children, a son-in-law and a grandson. As a family, they spent as much time as possible at the lake, where Greg could entertain everyone with his endless playlist, riding his boat as fast as he could and starting fires that terrified everyone. Greg and Audrey enjoyed perfecting recipes, cooking together, going on late night golf cart rides, and spending time with their grandson.

Survivors include his wife, Audrey, of the house; two daughters, Jessica Hicks and her husband, Isaiah, of Parsons and Lauren Forbes of the house; two sons, Joel Forbes of Parsons and Luke Forbes of the household; one grandson, Greyson Hicks; her mother, Evelyn Forbes of Parsons; three brothers, Michael Forbes and his wife, Jennifer, of Parsons, Brenden Forbes and his wife, Eileen, of Kansas City, Missouri, and John Forbes and his wife, Natasa, of Kansas City, Missouri; two sisters, Kristen Farris and her husband, John, of Grove, Oklahoma, and Mary Gleich and her husband, Robert, of Boston; his father and stepmother, Jesse and Donna Scoggins of Parsons; and several nieces, nephews, aunts, uncles and cousins.

He was predeceased by his father, Michael Forbes, on March 7, 2016; and a niece, Makenzie Forbes, on August 25, 2014.

The funeral mass will be held Thursday at 10 am in the gymnasium of St. Patrick’s Catholic School. Interment will follow at Mount Olivet Cemetery. The family will begin receiving friends at 6 p.m. Wednesday at the Forbes-Hoffman Funeral Home. The Knights of Columbus Rosary will be recited at 6:30 p.m. and the Parish Rosary at 7:00 p.m. Wednesday. The family will receive friends again immediately after the rosaries. The funeral mass and rosaries can be viewed live on the Forbes-Hoffman Facebook page.

Memorials are suggested to the St. Patrick’s Catholic Church Renovation Fund or St. Patrick’s Catholic School and can be dropped off or mailed at the funeral home, PO Box 374, Parsons, KS 67357.

Online condolences can be made to

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King’s Lynn windsurfer funeral as body found in Sweden Tue, 15 Jun 2021 18:26:00 +0000

A tribute was paid to Chris Bamfield, a windsurfer who went missing from Hunstanton in November.

The funeral for Mr Bamfield, retired executive director of the West Norfolk Council, took place on Tuesday after his body was recently found in Sweden.

Mr Bamfield, 65, of Middleton, went missing while windsurfing in Hunstanton in November 2020.

At a cabinet meeting on Tuesday, WNC advisers paid tribute to their former colleague, observing a minute of silence as the city buildings were lit up in his memory.

Stuart Dark, the head of the council, has asked the cabinet to join him in remembering the father of two.

“Today is a difficult day for King’s Lynn and the Borough Council,” he said.

“One of our respected colleagues, Chris Bamfield, has passed away in difficult circumstances.

“It was his funeral this morning, and I would like you to join me for a minute of silent reflection and support for Chris’s family and his many friends.

“He was a friend, a colleague and a proud servant of this arrondissement. He has supported a cabinet member on several occasions over the years.

A tribute from fellow West Norfolk Council, where Chris Bamfield was responsible for recreation and open spaces before retiring Photo: Chris Bishop
– Credit: Archant

A spokesperson for the council, who left a message on social media, said: “King’s Lynn Town Hall and Alive Corn Exchange will be lit red tonight in memory of our colleague and friend Chris Bamfield , whose funeral took place today.

“Our hearts are with his family. The family would like to include, ‘Our hero. The rudder that has guided our ship throughout life.


Mr Bamfield was last seen on Saturday 14 November, after missing near the Hunstanton Sailing Club.

Tributes were left near the spot on Hunstanton promenade where missing surfer Chris Bamfield wa

Tributes were paid near the spot on Hunstanton promenade where missing surfer Chris Bamfield was last seen Photo: Chris Bishop
– Credit: Archant

RNLI crews searched until Monday afternoon, but there was no sign of Mr. Bamfield.

After his disappearance, family and friends left flowers and messages near where Mr Bamfield was last seen.

Paying homage to her husband, Mr Bamfield’s wife Vanessa said in a handwritten message: “Chris my love, you were my life, my rock, my hero.

“We had so many projects that we will do them again in the Hereafter.

“Be at peace, my love. I have always loved you for 37 years and I will do so until the day I die. Your beloved Vanessa.

A heart made of pebbles alongside tributes to Chris Bamfield on the ball in Hunstanton Photo: C

A heart made of pebbles alongside the tributes to Chris Bamfield on the ball in Hunstanton Photo: Chris Bishop
– Credit: Archant

A signed Jamie and Conny message read, “Dad, at a time that leaves us with so many questions, we are so grateful for the lessons you have taught us and the strength you have instilled in our family.

“For generations to come, our children, your grandchildren, will always feel your presence. I love you forever surf bum.

A fundraiser set up to thank the emergency services for their role in the research raised more than £ 12,000 after the donation of around 450 people.

Many who have made donations have paid tribute to Mr Bamfield, who was the West Norfolk Council Recreation Officer before retiring in 2019.

Simon Brown said, “Chris, with all of your contribution and hard work, you have left your mark on the town of King’s Lynn.

“Over the years you have worked tirelessly with Festival Too and Fawkes in the Walks, rocking the bank to help fund these events.

“Now we are shaking this box to raise as much money as possible for this great cause, I will miss you for the golf course, our hearts go out to your family at these sad times.”

Debbie Gates added, “Thanks to the RNLI for all your efforts in trying to find Chris. Our thoughts are with his family and friends during these difficult times.

“We have shared many tears of laughter over the years, and now they are tears of loss, but we will cherish our memories of happier times with a beloved colleague who has worked tirelessly for West Norfolk for almost 30 years. years.”

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Ida Mae (Coffey) Elam | Obituary Tue, 15 Jun 2021 16:23:00 +0000

KINGSPORT – Ida Mae (Coffey) Elam, 83, of Kingsport, left this life on Monday, June 14, 2021 to rest in the arms of her Heavenly Father.

Ida was born in Sullivan County on April 22, 1938 and has resided in the Sullivan County area her entire life. She died at home after a short illness.

Ida graduated in 1956 from Lynn View High School and worked in the financial industry for several years, retiring from the American General Finance Company. She was a member of the United Methodist Church of Vermont and a member of the Fishermen’s Sunday School class. She has served on several different committees. She was Past Matron of Liberty Chapter No. 198 Order of the Easter star. She was past president of Kingsport Assembly No. 44 Social Order of the Beauceant.

She became the wife of Phil Elam on September 2, 1961 and enjoyed the 59 years they lived together. She was a loving wife, daughter, sister, aunt and great friend to many. She was always ready to help those who needed her.

Ida was predeceased by her parents, Charles Henry and Hassie (Tallman) Coffey; brother, Charles William Coffey; sister, Elizabeth (Coffey) Fields; father and stepmother, Roscoe and Matilee Elam; grandparents, Charles Risten and Tressie M. Coffey and William and Molly Tallman; as well as many uncles, aunts and cousins.

Survivors include her loving husband of 59, Phil Elam; brothers, John W. Coffey and wife Mary of Kingsport, Donald R. Coffey and wife Martha of Charlotte, NC; special nephew, James East, Jr. of Johnson City; special niece, Rene Webb of Church Hill; a very special nephew, Nicholas Webb of Church Hill; several other nephews, nieces, cousins ​​and sisters-in-law.

The family will receive friends from 11 a.m. to 1 p.m. on Friday, June 18, 2021 at Carter-Trent Funeral Home, 520 Watauga Street, Kingsport.

A funeral service will follow in the funeral home chapel with Reverend Tom Elam, Sr., and Reverend Jeremy McMillian. Music will be provided by Mark Elam.

A funeral service will follow at East Lawn Memorial Park. The carriers will be the nephews and cousins.

Memorial contributions can be made to the Vermont UMC Church at 1817 Bloomingdale Rd. Kingsport, TN 37660.

Carter-Trent Funeral Home in downtown Kingsport serves the Elam family.

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Service Corporation (SCI) looks solid, gains around 10% in 3 months Tue, 15 Jun 2021 15:34:03 +0000

International service company SCI has benefited from an increase in funeral services and an increase in burials in its cemeteries, especially amid the pandemic. In addition, the company’s focus on real estate development has paid off. Rising funerals and burials, along with a robust cost structure, fueled the first quarter 2020 results for this provider of death care products and services. In addition, management has raised its profit forecast for 2021.

Encouragingly, Zacks’ consensus estimate for 2021 earnings has risen 7.4% to $ 2.89 per share over the past 60 days. Additionally, shares of this company Zacks Rank # 2 (Buy) have gained 9.6% in the past three months, far outpacing industry growth of 4.1%. In fact, the company also outperformed the Zacks Consumer Staples sector and the respective increases of 8.3% and 7.8% in the S&P 500. Let’s take a closer look.

Service Corporation International Award, Consensus and EPS Surprise

Service Corporation International Award, Consensus and EPS Surprise

Service Corporation International price-consensus-eps-surprise-chart | International Service Corporation Quote

Q1 solid and elevated view

In the first quarter of 2021, profit and revenue improved year over year and exceeded Zacks’ consensus estimate. Incidentally, the Funeral and Cemeteries segments benefited from higher base revenues. The net result was supported by a high gross profit, resulting from the increase in funeral services and burials performed as well as a strong increase in prerequisite income recognized by cemeteries. In addition, net income benefited from the reduction in shares outstanding and lower interest costs.

Based on the strong performance seen in the first quarter, management has raised its earnings guidance for 2021. It now expects adjusted earnings per share of between $ 2.70 and $ 3.00, down from 2.50 to $ 2. $ 90 previously planned. The company’s forecast for the year is wider than usual due to uncertainty surrounding the impact of COVID-19. We note that the company’s earnings amounted to $ 2.91 per share in 2020. Additionally, management has advised that the company is on the right track with its long-term earnings growth framework. As a result, it will continue to focus on its core strategies which include revenue growth by remaining relevant to client families, leveraging scale and maximizing capital deployment opportunities.

Zacks investment research

Zacks investment research

Image source: Zacks Investment Research

Other advantages

The company remains committed to pursuing strategic buyouts for both segments and building new funeral homes to generate better returns. In the first quarter of 2021, the company incurred capital expenditures of $ 42.3 million. She undertook several development and construction projects of cemeteries. These investments should pay off for the business in the short term. Spending associated with capital improvements at current locations and cemetery development is expected to range from $ 235 million to $ 255 million in 2021.

Revenues from the Cemetery segment have increased in recent quarters. In the first quarter, segment revenue increased 53.8% to $ 458.5 million, driven by higher core revenue. Base income was derived from an increase in both requirement and total recognized prerequisite income. Comparable cemetery incomes improved 53.9% year over year thanks to higher base incomes. This, in turn, was fueled by recognized high provident income due to comparable strong production from provident graveyard property sales. In addition, atneed’s revenue growth, which stems from an increase in burials performed, has been an asset.

Comparable production of pre-requisite cemeteries sales increased 67.1% due to strong sales growth, sales averages and sales speed. The company continued to benefit from an efficient sales force, prudent use of CRM systems and improved conversion rates through direct mail and digital prospecting campaigns. Additionally, the company continued to experience high conversion and close rates, thanks to increased customer awareness of the possible effects of the coronavirus. There has also been an increase in traffic to the scene due to the increase in funeral services and burials performed. Strong revenues, along with an improved cost structure, also fueled the segment’s gross profit and margin.

Obviously, it looks like Service Corporation is about to continue its magnificent show.

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Medifast MED, which currently carries a Zacks Rank # 1 (Strong Buy), has a surprise four-quarter earnings of 12.7%, on average. You can see The full list of today’s Zacks # 1 Rank stocks here.

Transportation services CSV has a Zacks Rank # 2 and its net income has beaten Zacks’ consensus estimate by 36.4% on average over the past four quarters.

Nomadic foods NOMD has a Zacks Rank # 2 and its net income has exceeded Zacks’ consensus estimate by 10.3% on average over the past four quarters.

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Ministry of Finance Notifies Concessional GST Rate on COVID-19 Relief Material Tue, 15 Jun 2021 12:41:00 +0000

The Ministry of Finance has notified the preferential rate of GST that will be applicable on COVID relief materials until September 30, 2021. In addition, a lower Goods and Services Tax (GST) of 5 percent will be applicable to contracts work for the construction, repair or maintenance of electric ovens intended for the funeral, burial or cremation of the deceased.

The previous tax rate for this service was 12 percent. On June 12, the GST Council, chaired by Finance Minister Nirmala Sitharaman and composed of ministers of state, reduced the tax rate on COVID drugs such as Remdesivir and Tocilizumab as well as on medical oxygen , oxygen concentrators and other essential COVID products.

On June 14, the Ministry of Finance’s revenue department notified tariff cuts for 18 COVID-related supplies, such as hand sanitizer, pulse oximeters, the BiPAP machine, test kits, ambulances and temperature control equipment. These preferential rates would be applicable until September 30, 2021, he added.

The Council, at its meeting on June 12, had decided to reduce the GST on the COVID-19 drug Tocilizumab and the black fungus drug Amphotericin B to “nil”, by 5%. The level of Remdesivir and anticoagulants like heparin is lowered from 12% to 5%.

The council also decided to reduce the GST rate on ambulances from 28 percent to 12 percent. The tax on medical grade oxygen, oxygen concentrators (including personal imports), ventilators, BiPAP machines, and high-flow nasal cannula (HFNC) devices has been reduced from 12% to 5% .

In addition, the tax on COVID test kits, pulse oximeters (including personal imports) has been reduced from 12% to 5%. Hand sanitizers, temperature control equipment, gas / electric ovens for crematoriums will also be subject to a lower tax of 5%, down from 18% previously.

Also Read: White Goods PLI Program To Restart Manufacturing And Build Capacity: Piyush Goyal

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Thomas Francis McNulty | News, Sports, Jobs Tue, 15 Jun 2021 12:07:30 +0000

Thomas Francis McNulty, 84, of Durham, NH, formerly of Nashua, NH, passed away on June 12, 2021 with his 56-year-old wife by his side. He was born in Brooklyn, New York on December 5, 1936, the son of the late Catherine (Benson) and John McNulty. At the age of 5, his family moved to Franklin Square on Long Island where he grew up.

Tom served in the United States Army from 1956 to 1958 and was stationed in Korea. He then received his undergraduate degree from the University of New Hampshire and his MBA in Finance from Northeastern University, where he was a member of the Beta Gamma Sigma Honor Society. Tom worked in New York for AT&T and New York Telephone for 10 years, then moved to Nashua where he worked for Sanders Associates / Lockheed Martin for 33 years.

An active member of St. Christopher’s Parish for over 50 years, Tom was a long-time minister of the Eucharist; has served on the parish council, finance committee and task force, and as a back-up server at daily mass and funerals. He was also involved in several improvement projects around the church. Tom was an active member of the Nashua community as a youth football coach, a member of the Nashua Chamber of Commerce, and a member of the board of directors of the Greater Nashua Transportation Department.

Golf, bowling, tennis, and softball have been activities that Tom has enjoyed over the years. He was an avid reader and followed many sports teams, especially his beloved Yankees. He was happiest training in the yard cutting grass and trimming hedges.

Tom is survived by his wife Constance (Johnson) McNulty, his three children of whom he was very proud; her daughter Ellen and her husband Jeffrey Gibson of Northwood, NH; son Thomas Esq. and his wife Dr Kimberly McNulty of Topsfield, MA, and his daughter Dr Nancy McNulty and her husband Dr Benjamin Forbush of Norwich, VT. He is also survived by his eight grandchildren whom he loved very much; Joseph, Michael and Molly Gibson, Andrew, Griffin and Caitlin McNulty and Cameron and Charles Forbush. He is also survived by his brother John McNulty and his wife Audrey, his sister-in-law Helen McNulty and his brothers-in-law Peter Johnson and his wife Patricia and Robert Johnson and his wife Brenda, as well as several nieces and nephews. In addition to his parents, he was predeceased by his brother Edward McNulty, his sister and her husband Gertrude and William Ewart and his brother-in-law Paul Johnson.

The family would like to especially thank Brookhaven Hospice, especially Laurie and Leandra. They also wish to thank the caring staff at the RiverWoods Memory Care Unit in Durham, NH, and Bridges by Epoch in Nashua, NH.

Services: Visitations will be held at Davis Funeral Home, 1 Lock Street, Nashua, NH, on Wednesday, June 16, 2021 from 5 to 7 p.m. A Christian funeral mass will be held at St Christopher’s Church, 62 Manchester St., Nashua, NH on Thursday June 17, 2021 at 10 a.m. followed by a funeral at Edgewood Cemetery, 107 Amherst St., Nashua New Hampshire . In lieu of flowers, contributions can be made to the Alzheimer’s Association, 166 S. River Rd., No. 210, Bedford, NH, 03110, Brookhaven Hospice, 2 Bedford Farms Drive, Suite 105, Bedford, NH 03110 or Type 1 Diabetes (JDRF), 175 Ammon Dr., Suite 201, Manchester, NH 03103. An online guestbook is available at 603-883-3401 “ONE MEMORY SHOWS ANOTHER. “

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5% GST payable on construction services of a structure for the funeral or cremation of the deceased until September 30: CBIC Tue, 15 Jun 2021 06:58:54 +0000

TPS - structural construction services for funerals - burial or cremation of the deceased - CBIC - Taxscan

The Central Indirect Taxation Council (CBIC) has reduced the GST to 5% which will be levied on structural construction services for the funeral, burial or cremation of the deceased from June 14, 2021 to September 30, 2021.

This notification is the result of the 44th GST Council meeting under the chairmanship of Union Minister of Finance and Trade Affairs Smt. Nirmala Sitharaman by videoconference on June 12, 2021 by videoconference in New Delhi.

The notification indicates that the notification No. 11/2017 – Central tax (rate), dated June 28, 2017, in the table, against serial number 3, in column (3), in point (iv), after clause (f), “Provided that during the period beginning June 14, 2021 and ending September 30, 2021, the central description service tax as specified in paragraph (f), will be, regardless of the rate specified in column (4), be levied at the rate of 2.5 per cent, ” is inserted

In accordance with serial number 3 under heading 9954 (Construction services) Composite contract for the supply of works as defined in clause (119) of article 2 of the Central Goods and Services Tax Act 2017, other than that covered by points (i), (ia), (ib), (ic), (id), (ie) and (if) above, provided by way of construction, erection, setting in service, installation, completion, arrangement, repair, maintenance, renovation or modification of a structure intended for the funeral, burial or cremation of the deceased, 2.5% CGST would be applicable from June 14, 2021 and ending on September 30, 2021.

In the event of a UTGST notification regarding the same subject, 2.5% UTGST will be applicable on structural construction services for the funeral, burial or cremation of the deceased from June 14, 2021 to September 30, 2021.

In the event of an IGST notification concerning the same subject, the IGST 5% will be applicable on the construction services of a structure for the funeral, burial or cremation of the deceased from June 14, 2021 to September 30, 2021.

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Kerala workers lose Rs 13,650 crore during lockdown due to COVID pandemic Tue, 15 Jun 2021 04:00:00 +0000

Overall, during these 39 days, the loss to Kerala’s economy would be around Rs.40,950 crore.

According to the KPB report, the 2020 foreclosure resulted in a loss of revenue of around Rs. 20,000 crore in the tourism sector, Rs 1,371.3 crore in the fishing sector and Rs. 9,600 crore in the transport sector in the state.

The report estimates that Kerala suffered a loss of revenue of Rs. 80,000 crore due to the 2020 lockdown.

Kerala’s 2021-22 revised budget reveals that the state revenue deficit is 16,910 crore rupees, or 1.93% of the state’s gross domestic product (GSDP).

In January, then Kerala’s finance minister Thomas Isaac told the state assembly that the state’s public debt was doubling almost every five years.

A recent Comptroller and Auditor General of India (CAG) report on Kerala’s finances also reveals that the total state debt burden increased from Rs. 1,41,947 crore in 2014-15 to Rs. 2 41,615 in 2018-19.

“The state’s overall fiscal liability increased from 1,417,447 crore in 2014-15 to 2,41,615 crore in 2018-19, registering an increase of 70% over the five years. In 2018-2019, the growth rate of budget liabilities was 12.63% and it was the lowest in five years, ”the CAG report said.

According to the current Kerala Finance Minister KN Balagopal, in the last fiscal year, the state’s GSDP fell by 3.82% compared to the previous year.

Balagopal also admitted that the growth rate that was positive for decades was under the impact of the Covid-19-induced lockdown and that state revenues were down 18.77%.

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