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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.
In economics, zero-rated supply refers to items subject to a 0% VAT tax on their input supplies. The term is applied to items that would normally be taxed under valued-added systems such as Europe's Value Added Tax (VAT) or Canada's Goods and Services Tax (GST). Examples of these items include most exports, basic groceries, and prescription drugs.
Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
WASHINGTON − Former President Bill Clinton was hospitalized in Washington “for testing and observation after developing a fever,” his deputy chief of staff announced Monday. “He remains in ...
The Goods and Services Tax (GST) is an abolished value-added tax in Malaysia. GST is levied on most transactions in the production process, but is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer. The existing standard rate for GST effective from 1 April 2015 is 6%.
Wholesale costs in the United States picked up sharply last month, signaling that price pressures are still evident in the economy even though inflation has tumbled from the peak levels it hit ...
It looks like Tulip trusts her new mom and she looks so happy in her palm! Commenters were happy to witness this milestone moment. @Christine Arnold-Sch shared, "That little face! Love the way she ...
Goods and Services Tax is an indirect tax collected on supply of goods or service. Central Goods and Services Tax (CGST): Portion of Tax to central government on intrastate sales. State Goods and Services Tax (SGST): Portion of Tax to state on intrastate sales. Integrated Goods and Services Tax (IGST): tax for interstate sales.