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In April, 2008, the EC submitted a report, titled "A Model and Road map for Goods and Services Tax (GST) in India" containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST bill.
The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
A Finance Act is the fiscal legislation enacted by the Indian Parliament to give effect to the financial proposals of the Central Government.It is enacted once a year and contains provisions relating to income taxes, customs, excise, Central and Integrated GST and other cess, exemptions, and reliefs.
In 2010, like the Federal Estate Tax, the generation-skipping transfer tax was briefly repealed. In that year, the GST tax rate was effectively zero. [9] However, the law that created increased exemptions and the ultimate repeal of the GST tax expired on December 31, 2010. [10] In 2016, the exemption was $5.45 million per person.
Mental Health Care Act: 2017: 10 Central Goods and Services Tax Act: 2017: 12 Integrated Goods and Services Tax Act: 2017: 13 Union Territory Goods and Services Tax Act: 2017: 14 Goods and Services Tax (Compensation to States) Act: 2017: 15 Human Immunodeficiency Virus and Acquired Immune Deficiency Syndrome (Prevention and Control) Act: 2017: 16
This is a category of articles concerning acts of Parliament (laws enacted by the Parliament of India in 2023). For more general discussion of Indian legal topics, see Category:Law of India and its other subcategories.
On 12 December 2023, the Bharatiya Sakshya bill, 2023 was withdrawn. On 12 December 2023, the Bharatiya Sakshya (Second) bill, 2023 was introduced in Lok Sabha. On 20 December 2023, the Bharatiya Sakshya (Second) bill, 2023 was passed in Lok Sabha. [4] On 21 December 2023, the Bharatiya Sakshya (Second) bill, 2023 was introduced in Rajya Sabha.
The rate of service tax was increased to 12% by Finance Act, 2006 w.e.f 18.4.2006. Finance Act, 2007 has imposed a new secondary and higher education cess of one per cent on the service tax w.e.f 11.5.2007, increasing the total education cess to three per cent and a total levy of 12.36 per cent.