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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.
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 ]
In finance, discounting is a mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee. [1] Essentially, the party that owes money in the present purchases the right to delay the payment until some future date. [2]
This resulted in a combined tax of 17.7% for goods purchased before the 7% GST was reduced to 6% and then 5% in 2006 and 2008 respectively. As of 2012, consumers in PEI paid a combined 15.5% tax rate (5% GST and 10% PST applied to the subtotal).
On a month-to-month basis, inflation rose 0.4% in March, the same as February's level. During the early months of 2024, inflation has proven to be more stubborn than some analysts had anticipated.
On the other hand, If the euro to U.S. dollar exchange rate is 0.50 one month later, the U.S. importer is able to prepare €1000 with $500 for the payment. Thus, if a rise in the exchange rates is expected in the future, the buyer may delay the payment of goods because such a delay can make purchasing the goods less costly. [ 2 ]
See today's average mortgage rates for a 30-year fixed mortgage, 15-year fixed, jumbo loans, refinance rates and more — including up-to-date rate news.
Export credit insurance is designed to protect exporters from the consequences of the payment risks, both political and commercial, and to enable them to expand their overseas business without fear of loss. Cooperation agreement with MIGA (Multilateral Investment Guarantee Agency) an arm of World Bank. MIGA provides: