Latest news with #Sodhi
NZ Herald
4 days ago
- Sport
- NZ Herald
Black Caps v South Africa: Live updates as New Zealand meet Proteas in Twenty20 Tri-series final
All the action as the Black Caps meet South Africa in the final of the Twenty20 Tri-series Seifert and Sodhi shine as Black Caps thrash Zimbabwe Tim Seifert hit a second successive half-century and Ish Sodhi took four wickets as New Zealand beat Zimbabwe by 60 runs in their T20 tri-series match in Harare today. New Zealand won all four matches in the round robin phase of the tournament. They will play South Africa in the final at the same venue on Saturday. Seifert hit 75 in a New Zealand total of 190 for six - the highest of the tournament – and Sodhi took a career-best four for 12 as Zimbabwe were bowled out for 130. Seifert and Rachin Ravindra (63) put on 108 for the second wicket to set up New Zealand for the highest total in the six round robin matches. Zimbabwe scored 21 off the first two overs in reply before leg-spinner Sodhi came on to bowl in the third over. He struck with his second ball and took three wickets for five runs in two overs in the powerplay. Sodhi came back later to claim a fourth wicket and become the third player to take 150 wickets in T20 internationals on a list headed by fellow New Zealander Tim Southee with 164. It was his fifth and least expensive four-wicket haul in the format. 'It was nice to contribute in a slightly new role for me. I haven't bowled a lot in powerplays in my career,' said Sodhi after being named player of the match. 'It was nice to put a score on the board batting first,' said New Zealand captain Mitchell Santner who chose to bat on a pitch which has favoured teams batting second. He said the number of players who had 'put their hands up at different times' gave New Zealand a selection headache ahead of the final.
Express Tribune
4 days ago
- Sport
- Express Tribune
Sodhi eyes T20 powerplay challenge
Ish Sodhi is enjoying the challenge of bowling in the powerplay overs in Twenty20 Internationals, the New Zealand spinner said after registering a career-best 4-12 against Zimbabwe in the ongoing tri-series in Harare on Thursday. The 32-year-old became the second New Zealand bowler, after Tim Southee (164), to claim 150 wickets in T20 Internationals as his team registered their fourth consecutive win in a tournament also involving South Africa. "Well, that's pretty nice to be able to achieve that milestone and contribute to the win," player of the match Sodhi said afterwards. Sodhi claimed three of his four wickets in the first six powerplay overs when batters tend to take advantage of fewer fielders outside the circle and bat aggressively. "It's quite a new role for me," the leg-spinner said. "I had not bowled in the powerplays a lot. This is a really strong New Zealand side nowadays, so to try and get into the side, you have to learn to be able to bowl in the powerplay. "Getting some wickets is quite pleasing. It shows, I suppose, that I can do it and it's something I want to keep doing." New Zealand will take on South Africa in Saturday's final in Harare. They will stay back for a two-test series against hosts Zimbabwe. Batting all-rounder Michael Bracewell will replace the injured Glenn Phillips for the first test in Bulawayo, New Zealand Cricket said on Friday. "Glenn's injury provided a gap in the Test squad and Michael is the closest like-for-like replacement," said New Zealand coach Rob Walter. "Michael's experience and skillset will be a great asset and allows us to keep the same balance of the team. "Given he's here with the T20 squad and his availability aligned for the first test, we're using the opportunity to include him in the squad." Phillips was ruled out of the Zimbabwe tour with a groin injury suffered in the Major League Cricket in the United States earlier this month.
Time of India
5 days ago
- Business
- Time of India
GST's identity crisis: One nation, multiple headaches
Academy Empower your mind, elevate your skills Rajesh Sodhi still remembers the night of June 30, 2017. The Ludhiana-based textile manufacturer had stayed up past midnight, watching Parliament TV as the Goods and Services Tax (GST) was announced. 'One Nation, One Tax' was the clarion call. It sounded like music to his years on, Sodhi's enthusiasm has morphed into frustration. His factory now employs three accountants just to handle GST compliance . "We were promised simplicity," he says. "Instead, we got something more complicated than what we had before."Sodhi's story isn't unique. Across India, individuals and corporates alike are grappling with a tax framework that seems to have developed a mind of its complexity starts with the basics. Instead of 'One Tax', today's GST comes with five different tax rates: 0%, 5%, 12%, 18%, and 28%. Add in numerous exemptions, differential rates for services, and sector-specific rules, and you have a system that's making the old tax regime look something as basic as determining which rate applies to popcorn, which is still a hot-button issue months after the December 2024 GST Council meeting. Is it taxed at 5%, 12%, or 18%? The answer depends on factors so nuanced that even tax lawyers disagree, but the lowdown is: it's 5% if sold loose (such as in a movie theatre), 12% if packaged and savoury-flavoured, and 18% if caramelised. But if your popcorn comes bundled with your movie ticket, the GST would be 18% because this would be treated as a composite such as these have prompted entrepreneurs and companies, regardless of industry, to reclassify their products and services after routine audits, resulting in demands for additional tax ranging from lakhs to crores of rupees."There has to be a philosophy to taxation that informs decision-making. GST is far from the good and simple tax it was supposed to be," says former Finance Minister (FM) Yashwant Sinha. "When I was FM, I rationalised the multiple central excise rates down to three. GST has a rate multiplicity problem. It's creating classification, implementation, and filing issues. The slabs must be reduced— ideally to one."The digitalisation of the Indian economy has revealed another vital limitation in the implementation of GST. App-based services, digital payments, and e-commerce platforms have created a whole new category of tax disputes that the system wasn't designed to Karnataka, vendors are protesting after having received GST notices for UPI-based transactions exceeding ₹40 lakh a year. They are currently demanding that the state revoke such notices, and that enforcement of such rules be relaxed for small-scale consider fintech entrepreneurs whose lending platforms are embroiled in disputes over whether algorithmic credit scoring should be taxed as a software solution or a financial service, a distinction that could mean the difference between 0% and 18% tax rates. Software as a Service (SaaS) companies are unclear and thus unable to determine whether they're selling goods or services. There's confusion over e-commerce platforms' marketplace versus inventory models, and skill-based online gaming companies are still contending with the massive retrospective demands rising from the hike from 18% to 28%, on par with chance-based activities such as gambling and there's the 'luxury' classification. As Aarin Capital Chairman and former Infosys executive Mohandas Pai puts it:"Air conditioners and TVs larger than 32 inches are taxed at 28%, but these aren't luxury items. They're mass goods today. Two-wheelers and sedans are also not considered luxury goods in 2025. Cement, which is critical for building India, also falls in the 28% bracket. The number of slabs should be reduced, and classifications revised."A concern on GST's complexity is the volume of disputes it has generated. There were significant judgments pertaining to GST in 2024, rendered by High Courts across the nation. And 2025 is even busier, as evidenced by recent multinational corporations across sectors have taken the international arbitration route to seek relief from retrospective tax claims. Several disputes are ongoing. Two, online real money gaming platforms are challenging retrospective GST notices amounting to ₹1.12 lakh crore, which exceed the industry's turnover of approximately ₹20,000 crore. The Supreme Court heard their arguments on July 15 and has scheduled its final hearing for July 25. Three, food delivery aggregators are wondering whether delivery charges attract 5% or 18% GST, which could further dent make or break their razor-thin margins. Four, airlines and shipping companies were mired in compliance issues around 'place of supply rules' that confused rather than clarified. Lastly, life and health insurance companies contended with 18% GST, a move that was passed on to already-burdened cases highlight that retrospective tax actions, especially those related to indirect taxes like GST, may impact not only compliance but also business overall "pay first, argue later" approach is also a hurdle for micro, small, and medium enterprises (MSMEs), which have minimal resources, including cash flows, to sustain specialised tax compliance teams. And the paperwork doesn't help. This includes mandatory multi-factor authentication for GST portal access and restrictions on E-Way Bill (EWB) generation to curb fraudulent practices, which have added yet another layer of complexity to daily operations. As Rajesh Sodhi, the entrepreneur from Ludhiana, says:'Tax refund delays are my biggest problem. I'm spending most of my time on GST-related tasks. I became a businessman to sell hosiery and other textiles, not to become a tax expert. But that's what this system has forced me to become."Although India's foreign direct investment (FDI) performance has shown resilience, recent data indicates moderation in investment momentum. In FY25, net FDI inflows dropped to a record 96.5%, as reported by The Economic Times. This has everything to do with investors exiting lucrative IPOs here and Indian firms ramping up overseas investments. But here's something to consider: the retrospective application of tax laws also undermines the principle of legal certainty, which is critical for investor confidence. Such enforcement imposes additional due diligence requirements and risk assessment protocols on foreign investors, particularly in sectors with complex supply chains and cross-border Financial Times reported that disputed tax demands, totalling around ₹13.4 lakh crore (as of March 2024), may have contributed to the decrease in net FDI inflows. Automaker Volkswagen is contesting a tax demand of approximately ₹12,000 crore related to import duties stemming from a 12-year investigation. Similarly, Maruti Suzuki (~₹20,000 crore) and Hyundai (~₹4,000 crore) are also among the top companies. Such prolonged battles and uncertainty surrounding tax obligations could raise concerns among investors about the predictability of India's tax are signs that policymakers are finally acknowledging pain points. Owing to Budget 2025, enterprises can expect some GST rate rationalisation in the 56th GST Council meeting, to be held later this month. Two major measures reportedly being considered are the elimination of the 12% slab and the abolition of GST altogether for term for businesses like Sodhi's, the question isn't whether reforms will come. It's whether they'll arrive soon enough. After eight years of promises and patches, India's entrepreneurs are running out of patience with the great tax answer, it seems, is written in the stars… or perhaps in the next GST Council meeting.
Business Recorder
5 days ago
- Sport
- Business Recorder
New Zealand spinner Sodhi relishing T20 powerplay challenge
Ish Sodhi is enjoying the challenge of bowling in the powerplay overs in Twenty20 Internationals, the New Zealand spinner said after registering a career-best 4-12 against Zimbabwe in the ongoing tri-series in Harare on Thursday. The 32-year-old became the second New Zealand bowler, after Tim Southee (164), to claim 150 wickets in T20 Internationals as his team registered their fourth consecutive win in a tournament also involving South Africa. 'Well, that's pretty nice to be able to achieve that milestone and contribute to the win,' player of the match Sodhi said afterwards. Sodhi claimed three of his four wickets in the first six powerplay overs when batters tend to take advantage of fewer fielders outside the circle and bat aggressively. Pakistan beat Bangladesh in third T20I to avoid whitewash 'It's quite a new role for me,' the leg-spinner said. 'I had not bowled in the powerplays a lot. This is a really strong New Zealand side nowadays, so to try and get into the side, you have to learn to be able to bowl in the powerplay. 'Getting some wickets is quite pleasing. It shows, I suppose, that I can do it and it's something I want to keep doing.' New Zealand will take on South Africa in Saturday's final in Harare. They will stay back for a two-test series against hosts Zimbabwe. Batting all-rounder Michael Bracewell will replace the injured Glenn Phillips for the first test in Bulawayo, New Zealand Cricket said on Friday. 'Glenn's injury provided a gap in the Test squad and Michael is the closest like-for-like replacement,' said New Zealand coach Rob Walter. 'Michael's experience and skillset will be a great asset and allows us to keep the same balance of the team. 'Given he's here with the T20 squad and his availability aligned for the first test, we're using the opportunity to include him in the squad.' Phillips was ruled out of the Zimbabwe tour with a groin injury suffered in the Major League Cricket in the United States earlier this month.
The Hindu
5 days ago
- Sport
- The Hindu
New Zealand spinner Ish Sodhi relishing T20 PowerPlay challenge
Ish Sodhi is enjoying the challenge of bowling in the PowerPlay overs in Twenty20 Internationals, the New Zealand spinner said after registering a career-best 4-12 against Zimbabwe in the ongoing Tri-Series in Harare on Thursday. The 32-year-old became the second New Zealand bowler, after Tim Southee (164), to claim 150 wickets in T20 Internationals as his team registered its fourth consecutive win in a tournament also involving South Africa. 'Well, that's pretty nice to be able to achieve that milestone and contribute to the win,' player-of-the-match Sodhi said afterwards. Sodhi claimed three of his four wickets in the first six PowerPlay overs when batters tend to take advantage of fewer fielders outside the circle and bat aggressively. 'It's quite a new role for me,' the leg-spinner said. 'I had not bowled in the PowerPlays a lot. This is a really strong New Zealand side nowadays, so to try and get into the side, you have to learn to be able to bowl in the PowerPlay. Getting some wickets is quite pleasing. It shows, I suppose, that I can do it and it's something I want to keep doing.' New Zealand will take on South Africa in Saturday's final in Harare. It will stay back for a two-Test series against host Zimbabwe. Batting all-rounder Michael Bracewell will replace the injured Glenn Phillips for the first Test in Bulawayo, New Zealand Cricket said on Friday. 'Glenn's injury provided a gap in the Test squad and Michael is the closest like-for-like replacement,' said New Zealand coach Rob Walter. 'Michael's experience and skillset will be a great asset and allows us to keep the same balance of the team. Given he's here with the T20 squad and his availability aligned for the first Test, we're using the opportunity to include him in the squad.' Phillips was ruled out of the Zimbabwe tour with a groin injury suffered in the Major League Cricket in the United States earlier this month.
