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Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment to the Constitution of India by the Government of India. 1 July is celebrated as GST Day. [4]
From 1 May 2018 onwards Ministry of Finance of Government of India started releasing monthly GST revenue collection data via official press release through Press Information Bureau. And to further improve transparency Government of India started issuing state-wise monthly collection data from 1 January 2020.
They engage in international cooperation in the work areas of exchange of information, transfer pricing, taxation of cross-border transactions, and negotiation of Free Trade Agreements. [ 2 ] Anti-smuggling and narcotics control: Enforcement measures against illicit traffic under the various international conventions and protocols that are in ...
In April, 2008, the EC submitted a report, titled "A Model and Road map for Goods and Services Tax (GST) in India" containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST bill.
(Reuters) -The U.S. Supreme Court denied on Tuesday a bid by former independent presidential candidate Robert F. Kennedy Jr., who has endorsed Republican Donald Trump, to be removed from the ...
Staying active on a daily basis helps keep the brain young, a recent study shows. Image credit: Hinterhaus Productions/Getty Images. This article originally appeared on Medical News Today
APIA, Samoa (Reuters) -Commonwealth leaders, ending a week-long summit in Samoa, said on Saturday the time had come for a discussion on whether Britain should commit to reparations for its role in ...