It was in the year 2017 when the Government of India passed the GST (Goods & Services Tax) Act. GST is an indirect tax that replaced many indirect taxes such as the excise duty, VAT, services tax, and so on, with the idea of ‘one nation, one tax’. Goods and services are divided...
In the current regime of indirect tax system, the chain of input credit is broken at a certain point. Let’s say Central Sales Tax (CST) applicable on interstate trade is non-creditable, leading to a break in the input credit chain. Similarly, a manufacturer charging excise duty on sale ...
The IFSC units setup in the GIFT City, India offers various tax benefits like exemptions on corporate tax, tax holiday for ten years, reduced Minimum Alternative Tax(“MAT”)etc increasing the profitability and hence growth of the business houses. It also offers numerous indirect tax benefits suc...
Definition of Indirect diversification benefits in the Financial Dictionary - by Free online English dictionary and encyclopedia. What is Indirect diversification benefits? Meaning of Indirect diversification benefits as a finance term. What does Indirec
Examples ofLimitation of Benefitsin a sentence We further declare that I / We are eligible to claim benefit of the tax treaty between India and [Name of the Country of residence of shareholder] including satisfaction of theLimitation of Benefitsclause (wherever applicable). ...
Learn more about Benefits of GST in India. Advatages & Disadvatange of GST in Different Business Sector in India
No matter if you are a student or a parent, you can reduce your taxable income by availing of tax deductions under Section 80E of the Income Tax Act, 1961. Here are some important things you need to know about education loan tax benefits in India. Eligibility According to inco...
as the "unsung hero" of retirement savings. But it's the preferred retirement option for people who work in non-profit organizations, schools, and certain religious groups. Qualified employees can save a portion of their salary for the future. This can be done through a tax-deferred account....
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GST in India explained with the following terms: 1)IGST: IGST is the total of CGST and SGST or UTGST and is levied and collected by the Centre. 2)CGST: Central Goods and Services Tax levied and collected by the Central Government. 3)SGST: State Goods and Services Tax levied and collect...