The full form of GST isGoods and Services Tax. It is an indirect tax levied on the supply of goods and services across India. This comprehensive tax system is designed as a multi-stage, destination-oriented tax applied at each point of value addition in the supply chain. By replacing multi...
Evasion of sales tax, Evasion of Income Tax, Evasion of Wealth Tax, Evasion of Customs Duty and Evasion of Excise Duty. Also, officials take bribery and help in making fabricated statements instead of reporting to tax authorities. By law tax evasion is a criminal offence in India. The Income...
Whereas, in the case of the e-payment mode, the taxpayers get the option of making online payments of their direct taxes. They can choose to pay it through net banking of any authorized bank in India. Not everyone is allowed to go for a physical mode of tax payment, and one can discu...
In India, the tax system is unique and different compared to other countries. If you are running your business in India, I'm sure you have come across this term known as'GST Cess.' So, what is a 'GST Cess?' Let me start by explaining the word 'cess.' According to the dictionary,...
Implementation in India:In India, HSN codes are used under the Goods and Services Tax (GST) regime. Businesses must use HSN codes when filing GST returns, ensuring proper classification and taxation of goods. The number of digits required (4, 6, or 8) depends on the business’s turnover....
Several opposition leaders have been imprisoned, questioned, or had cases filed against them by federal agencies in the past year, which triggered protests from opposition parties and civic groups. In March, the Congress party accused the federal government of using the tax department to cut their...
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What is good salary in India? This article discusses the national average salary in India, median salary in India, among other information.
After Narendra Modi became Prime Minister in 2014, India underwent a number of ambitious programs, including demonetization, implementing a goods and services tax (GST), and corporate deleveraging, each of which could have contributed to an economic slowdown. ...
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