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The tax policy is not limited to raising of revenue. As a part of the overall policy of the Government of India, the tax policy also serves as a tool to address several other objectives in the process of development of the country. These objectives may include providing for incentives and disincentives in the target areas/segments of the economy.
The tax rates, rules and regulations are governed by the GST Council which consists of the finance ministers of the central government and all the states. The GST is meant to replace a slew of indirect taxes with a federated tax and is therefore expected to reshape the country's $3.5 trillion economy, but its implementation has received criticism.
The tax is usually accompanied by a number of service taxes, e.g., water tax, drainage tax, conservancy (sanitation) tax, lighting tax, all using the same tax base. The rate structure is flat on rural (panchayat) properties, but in the urban (municipal) areas it is mildly progressive with about 80% of assessments falling in the first two slabs.
The scheme aims to tackle malnutrition and health problems in children below 6 years of age and their mothers by providing cash incentives conditional upon registration at Anganwadi centres and vaccination of newborn children. [100] Food subsidy CS MoCAFPD: 1972 Subsidy In 1972 the total food subsidy was ₹ 117 crore (US$154.84 million).
U.S. consumers who were “tricked” into purchases they didn't want from Fortnite maker Epic Games are now starting to receive refund checks, the Federal Trade Commission said this week. Back in ...
Scroll through for the list of BBMA winners (in bold): BBMAs top winner: Taylor Swift makes history as the most decorated artist. Top artist. Zach Bryan. Sabrina Carpenter. Drake.
Two Indiana parents are in custody after allegedly leaving their 2-year-old daughter in a closet overnight with a space heater turned all the way up.
Chairperson, Central Board of Indirect taxes and Customs or Chairperson, CBIC is the senior most IRS (C&IT) officer in the Government of India. The Chairperson is the ex officio Secretary to the Government of India and also cadre controlling authority of the Indian Revenue Service (Customs & Indirect Taxes). Sanjay Agarwal, IRS (C&CE:88) is the ...
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