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Marx's term is the German word "Mehrwert", which simply means value added (sales revenue minus the cost of materials used up), and is cognate to English "more worth". It is a major concept in Karl Marx's critique of political economy. Conventionally, value-added is equal to the sum of gross wage income and gross profit income.
The Goods and Services Tax (GST) is a Value added Tax (VAT) proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It replaces all indirect taxes levied on goods and services by the Indian Central and state governments.
The existing general sales tax laws were replaced with the Value Added Tax Act (2005) and associated VAT rules. A few states ( Gujarat , Tamil Nadu , Rajasthan , Madhya Pradesh , Chhattisgarh , Jharkhand , Uttarakhand and Uttar Pradesh ) opted to stay out of VAT taxation system during the initial introduction of VAT but adopted it later.
Value added is a term in financial economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed to the supply-demand curve for specific units of sale. [ 1 ]
Theories of Surplus Value (German: Theorien über den Mehrwert) is a draft manuscript written by Karl Marx between January 1862 and July 1863. [1] It is mainly concerned with the Western European theorizing about Mehrwert (added value or surplus value ) from about 1750, critically examining the ideas of British, French and German political ...
The value add can be seen in several different ways. The first is the obvious fuel savings. But there is also added value in less time spent at the gas station, and the cars pollute the air less than a normal combustion engine. The value add in this instance is determined by the customer, and not the company selling the car. [citation needed]
The Union Public Service Commission (UPSC; ISO: Saṁgha Loka Sevā Āyoga) is a constitutional body tasked with recruiting officers for All India Services and the Central Civil Services (Group A and B) through various standardized examinations. [1] In 2023, 1.3 million applicants competed for just 1,255 positions. [2]
Gross fixed capital formation (GFCF) is a component of the expenditure on gross domestic product (GDP) that indicates how much of the new value added in an economy is invested rather than consumed. It measures the value of acquisitions of new or existing fixed assets by the business sector , governments , and "pure" households (excluding their ...