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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.
The nature of the service underwent a transformational change with the enactment of the One Hundred and First Amendment of the Constitution of India, which overhauled the administration of indirect taxation in India with the introduction of the Goods and Services Tax (GST).
Self-assessment is done on a taxpayer's return. The department assesses tax under section 143(3) (scrutiny), 144 (best judgement), 147 (income escaping assessment) and 153A (search and seizure). Notices for such assessments are issued under sections 143(2), 148 and 153A, respectively. Time limits are prescribed in section 153. [22]
Legislative scrutiny is a mechanism for determining whether a particular juridical instrument is effective for accomplishing the ends for which it is or will be created. There are three ways of undertaking legislative scrutiny: before, during and after the enactment of a particular norm.
Under the Congress party governments of Nehru, and his successors' policy tended towards protectionism, with a strong emphasis on import substitution industrialization under state monitoring, state intervention at the micro level in all businesses especially in labour and financial markets, a large public sector, business regulation, and ...
The solar deal is now under scrutiny by U.S. prosecutors, who indicted Adani and seven other executives in November for alleged involvement in a bribery and securities fraud scheme involving ...
Integrated Goods and Services Tax (IGST): tax for interstate sales. Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual state governments, as per the ...
Are under 12 months old. Have been vomiting for more than 24 hours. Have other symptoms that are concerning for some of the more serious diseases listed above. Are not fully vaccinated.