GST would match or be lower than the multiple indirect taxes on real estate - Livemint
Nelso ERP is a cloud based Enterprise Resource Planning software which is designed in such a way that it does indicate a new era to the business resource planning irrespective of the size of your business. Time has already come to implement a suitable ERP software which guaranties a return on investment. In order to eliminate cascading effect of indirect taxes, Govt. of India has already introduced Goods and Service Tax (GST) from July 1st 2017.
Effect of GST on Indian Economy GST is the biggest taxation reform that has taken place in India on 1st July, 2017. The reason behind GST implementation was to replace all the indirect taxes with a single tax that is GST. It has removed the cascading effect of indirect taxes and is further expected to build-up the Indian economy. If we talk about the effect of GST on different sectors, there are some who are benefited, others have experienced huge losses whereas there are some who are…
The proposed 4-tier GST structure may hit the common man as it is likely to result in higher taxes on various items including kitchen staples such as edible oils, spices and chicken. The government plans to roll out the new indirect tax regime, Goods and Services Tax (GST), from April 1, 2017
The Chancellor cancelled a fuel duty increase planned for the autumn of This would have added about to the cost of a litre of petrol or diesel. If the rise had gone ahead, it would have cost motorists about in extra fuel duty and VAT.
Today, a plethora of taxes are being paid by the tax payers. With GST, the tax payer would pay only one consolidated tax instead of many taxes like State Value-Added Tax (VAT), Central Excise, Service Tax, Entry Tax or Octroi and a few other indirect taxes. After the clearance of the GST bill, it would be the biggest indirect tax reform since 1947. For further query contact CAC Networks at 1844-441-0555
Public Finance (Part-II) PUBLIC FINANCE A. Tax revenue It consists of the proceeds of taxes & other duties levied by the government. The various taxes that are imposed by a government can be categorised into two groups. 1.Direct Taxes 2.Indirect Taxes 1. Direct taxes Direct Taxes are those taxes which are paid by the same person on whom they have been imposed. Tax burden cannot be shifted on to others. Example- Income Tax wealth tax. 2. Indirect taxes Those taxes whose burden…