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The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
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 Director-General advises the central Government in the formulation of Foreign Trade Policy and is responsible for carrying out that Policy. At present, the Director-General formulates Foreign Trade Policy and Hand Book of Procedures of Foreign Trade Policy and ITC (HS) Classifications of Import and Export Items.
The Merchandise Export from India Scheme (MEIS) is a government initiative implemented by the Government of India with the objective of encouraging exports. [1] [2] It was launched on April 1, 2015, as a part of the Foreign Trade Policy (FTP) to boost India's exports of goods and services. [3] [4]
The pre-export DEPB scheme was abolished w.e.f. 1/4/2000. Under the post-export DEPB, which is issued after exports, the exporter is given a duty entitlement Pass Book Scheme at a pre-determined credit on the FOB value. The DEPB rates allows import of any items except the items which are otherwise restricted for imports.
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These two goods are constituting 53% total imports, 34% total exports and nearly 100% of total trade deficit (136 billion US$) of India in the financial year 2013–14. [53] The services trade (exports and imports) are not part of commodities trade. The trade surplus in services trade is US$70 billion in the year 2017–18. [54]
The former first lady was notably absent from President Jimmy Carter's state funeral service, leading Barack Obama and Donald Trump to be seated next to one another