Notes and Study material for Exams
What is GST? Goods and Services Tax — GST — is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. Through a tax credit mechanism, this tax is collected on value-added goods and services at each stage of sale or purchase in the supply chain. The system … Read more
Democracy: Direct and Indirect Democracy in modern usage, is a System of Government in which the citizens exercise power directly or elect representatives from among themselves to form a governing body, such as a parliament. Democracy is sometimes referred to as “rule of the majority”. Democracy is a system of processing conflicts in which outcomes … Read more
India has a well developed Taxation structure. The tax system in India is mainly a three tier system which is based between the Central, State Governments and the Local Government organizations. In most cases, these local bodies include the local councils and the municipalities. According to the Constitution of India, the government has the right … Read more
VAT is a multi-stage tax levied at each stage of the value addition chain, with a provision to allow input tax credit (ITC) on tax paid at an earlier stage, which can be appropriated against the VAT liability on subsequent sale. VAT is intended to tax every stage of sale where some value is added … Read more
India has a well developed Taxation structure. The tax system in India is mainly a three tier system which is based between the Central, State Governments and the Local Government organizations. In most cases, these local bodies include the local councils and the municipalities. According to the Constitution of India, the government has the right … Read more
Direct & Indirect Taxes Direct Tax Indirect Tax Corporation Tax Excise Duties Income tax Service Tax Interest Tax Central Value Added Tax (Vat) Expenditure Tax Sales Tax Wealth tax Property Tax Gift Tax … Read more
Tax Reforms in India Sience 1990 ie the Chief Justice of India The Supreme Court of India is the highest court in India. It has: (a) One Chief Justice and 25 other judges (b) One Chief Justice and 30 other judges (c) One Chief Justice and 35 other judges (d) One Chief Justice and 40 … Read more
What is GST? Goods and Services Tax — GST — is a comprehensive tax levy on manufacture, sale and consumption of goods and services at a national level. Read moreGoods and Services Tax — GST
[su_heading size=”21″]Tax Reforms IN INDIA[/su_heading] Sience 1990 ie the
Policy of Paramountcy The Policy of Paramountcy was a British policy of indirect rule in India. It was implemented in the 18th century and continued until the end of British rule in India in 1947. The policy was based on the principle that the British government had a right to control the affairs of Indian … Read more