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GST is a consumption-based tax/destination-based tax, therefore, taxes are paid by the state where the goods or services are consumed not the state in which they were produced. IGST complicates tax collection for State Governments by disabling them from collecting the tax owed to them directly from the Central Government.
On 29 March 2017, CGST, IGST, UTGST and SGST compensation law passed in Loksabha [5] The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 was introduced in the Lok Sabha by Finance Minister Arun Jaitley on 19 December 2014, and passed by the House on 6 May 2015.
Integrated Goods and Services Tax (IGST): tax for interstate sales. Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual state governments, as per the ...
13.6% (available to SMEs and applicable up to a taxable profit of €15000) [31] 16.8% (general rate) 0.0% (for monthly salaries up to €654) + social security ...
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General; Tax avoidance. Repatriation tax avoidance; Tax evasion; Tax resistance; Tax shelter; Debtors' prison; Smuggling; Black market; Unreported employment; Corporate
One97 Communications Ltd is an Indian multinational technology company, headquartered in Noida, Uttar Pradesh, India. [1] It was founded in 2000 by Vijay Shekhar Sharma. Through its subsidiaries and businesses, the company offers digital payment and financial services to consumers and merchants in I
Income Tax Department. The Income-tax Act, 1961 is the charging statute of Income Tax in India.It provides for levy, administration, collection and recovery of Income Tax. The Government of India brought a draft statute called the "Direct Taxes Code" intended to replace the Income Tax Act, 1961 and the Wealth Tax Act, 19