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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.
After its launch, the GST rates have been modified multiple times, the latest being on 10 May 2023 where taxpayer with over ₹5 crore turnover in any financial year from 2017 to 2018 shall issue e-invoices w.e.f. 1 August 2023. [23] Members of the Congress boycotted the GST launch altogether. [24]
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
GST in New Zealand is designed to be a broad-based system with few exemptions, such as for rents collected on residential rental properties, donations, precious metals and financial services. [75] It normally makes up around 30% of tax revenue in New Zealand. [76] The rate for GST, effective since 1 October 2010 is 15%. [77]
In the 2017-2018 financial year (i.e. 1 April 2017 to 31 March 2018), the IRS (IT) received 5,87,13,458 returns [8] and collected direct taxes amounting to ₹11.37 trillion, [9] spending ₹ 60,000 (equivalent to ₹ 91,000 or US$1,000 in 2023) for every ₹ 1,000 (equivalent to ₹ 1,500 or US$17 in 2023) it collected. [10]
The process of assigning HS codes is known as "HS Classification". All products can be classified in the HS by using the General Rules for the Interpretation of the Harmonized System ("GRI") that must be applied in strict order. HS codes can be determined by a variety of factors including a product's composition, its form and its function.
IRS officers handling sensitive postings are issued a Glock Model 22 pistol or a Glock 23 in .40 S&W caliber. [ 30 ] An IRS officer could rise up-to the Apex Scale (Rs.2,25,000 fixed plus allowances) at the post of principal chief commissioner of income tax in the ITD.
This resulted in a combined tax of 17.7% for goods purchased before the 7% GST was reduced to 6% and then 5% in 2006 and 2008 respectively. As of 2012, consumers in PEI paid a combined 15.5% tax rate (5% GST and 10% PST applied to the subtotal).