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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.
Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment to the Constitution of India by the Government of India. 1 July is celebrated as GST Day. [4]
Dr. Raja Chelliah Committee on tax reforms recommended the introduction of service tax. Service tax had been first levied at a rate of five per cent flat from 1 July 1994 till 13 May 2003, at the rate of eight per cent flat w.e.f 1 plus an education cess of 2% thereon w.e.f 10 September 2004 on the services provided by service providers.
The unemployment rate also declined from 7.51% in 2016–17 to 4.66% in 2017–18 because of the shrinking employed force. The number of the employed force fell from 439.7 million in 2016–17 to 426.1 million in 2017–18. CMIE attributed the impact to demonetisation as well as implementation of Goods and Services Tax in July 2017. [158] [160]
From 1 May 2018 onwards Ministry of Finance of Government of India started releasing monthly GST revenue collection data via official press release through Press Information Bureau. And to further improve transparency Government of India started issuing state-wise monthly collection data from 1 January 2020.
WASHINGTON (Reuters) -The fatal 2019 arrest of unarmed Black motorist Ronald Greene and its aftermath demonstrated serious failures at Louisiana State Police like the use of excessive force and ...
Americans who followed news influencers during the presidential campaign were more likely to hear positive reports about Donald Trump than they were about Kamala Harris, a study has revealed.
The Gazette of India is a public journal and an authorised legal document of the Government of India. [1] It is published weekly by the Directorate of Printing Department of Publication, a subordinate office of the Ministry of Housing and Urban Affairs and printed by the Government of India Press.