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The existing general sales tax laws were replaced with the Value Added Tax Act (2005) and associated VAT rules. A few states (Gujarat, Tamil Nadu, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, Uttarakhand and Uttar Pradesh) opted to stay out of VAT taxation system during the initial introduction of VAT but adopted it later.
In India states earn revenue through own taxes, central taxes, non-taxes and central grants. [1] For most states, own taxes form the largest part of the total state revenue. [1] Taxes as per the state list includes land revenue, taxes on agricultural income, electricity duty, luxury tax, entertainment tax and stamp duty. [2]
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.
Nominal one per cent central excise duty on 130 items entering the tax net. Earlier there were 370 items which were under the bracket of state VAT but were exempted from Central Excise. Out of these 130 come under the bracket from now. Rest are expected to be included from the induction of GST; Defence budget hiked to ₹ 1,640 billion (US$20 ...
The population of India as per 2011 census was 1,210,854,977. [31] India added 181.5 million to its population since 2001, slightly lower than the population of Brazil. India, with 2.4% of the world's surface area, accounts for 17.5% of its population. Uttar Pradesh is the most populous state with roughly 200 million people.
The SECC 2011 was conducted in all states and union territories of India and the first findings were revealed on 3 July 2015 by Union Finance Minister Arun Jaitley. [7] [8] [9] SECC 2011 is also the first paperless census in India conducted on hand-held electronic devices by the government in 640 districts.
This is a list of Indian states and union territories by their per capita Net state domestic product (NSDP). NSDP is the state counterpart to a country's Net domestic product (NDP), which equals the gross domestic product (GDP) minus depreciation on capital goods. [1] [2]
During the decade of 2001–2011, India's annual population growth rate has slowed down from 2.15 percent to 1.76 percent. [7] Based on decennial census data, Dadra and Nagar Haveli and Daman and Diu has the fastest growth rate of 55.1 percent, followed by Meghalaya (27.8 percent) and Arunachal Pradesh (25.9 percent).