The system of Goods & Service Tax (GST) was introduced in India to make the tax structure more streamlined, simplified, and error-free. With its adoption, there's been a notable surge in compliance demands, resulting in a marked uptick in GST notifications directed at taxpayers. These notific...
Why GST Is Must for Make in India?Kishore, Nand
These zones are usually centred around major cities in India, like New Delhi and Mumbai, which could suit your business. Among the benefits offered include: Exemption of levies and Goods and Service Tax (GST) imposed by the state government. 100% income tax exemption on export income for the...
Goods and Services Tax (GST) completed three years on July 1, 2020, it was introduced to keep the taxation system simple and beneficial for taxpayers. It brings various changes and also the compliance rate has been improved. But still, there is a major issue Central as well as the State ...
Goods and Services Tax (GST) is also known as indirect tax or consumption tax in India on the supply of goods and services. It is a comprehensive, multistage, and also known as destination-based tax. GST is a good and simple tax regime that will eliminate the compounding effects of multi...
In 2005, the government introduced a tax exemption for start-up companies to support local enterprises’ growth and entrepreneurship. Qualifying companies are given the following tax exemption on the first three consecutive years of assessment (YA), where if the YA falls in 2020: ...
Kumar outlined specific tax incentives that could support AI development. These include GST exemptions for private providers certified to train individuals in AI skills, customs duty concessions for importing computer chips, income tax holidays to allow reinvestment into businesses, and tailored amortisation...
In addition to this, over the past two years, India has executed significant structural reforms such as GST, RERA and Insolvency Code. The benefit of these structural reforms is yet to accrue, and will be significant in the years to come. ...
(IMF) Maurice Obstfeld praised the Modi government for the solid economic growth of India and the economic reforms introduced, particularly the GST. At a more local level, the initiative has paid dividends: A recent analysis cited by the Finance Ministry showed that a household has been saving ...
while China and India have started paying for Russian oil and even other trades in ruble, yuan and rupee. Now, if Saudi Arabia, the largest exporter of crude oil in the world, were to join the BRICS nations, it could lead the OPEC to use “new global reserve currency...