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The Rajya Sabha passed these Bills on 6 April 2017 which were then enacted as Acts on 12 April 2017. Thereafter, State Legislatures of different States have passed respective State Goods and Services Tax Bills. After the enactment of various GST laws, Goods and Services Tax was launched all over India with effect from 1 July 2017. [18]
On 29 March 2017, CGST, IGST, UTGST and SGST compensation law passed in Loksabha [5] The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 was introduced in the Lok Sabha by Finance Minister Arun Jaitley on 19 December 2014, and passed by the House on 6 May 2015.
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]
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).
CGST may refer to: China Graduate School of Theology; Chinese Giant Solar Telescope; Central Goods and Services Tax This page was last edited on 28 ...
Sections 2 to 5, 7 to 17, 20, 28, 29, 30, 33, 36, 43 to 53, 55, 56, 57 and 59 of the 42nd amendment came into force from 3 January 1977. Sections 6, 23 to 26, 37 to 42, 54 and 58 went into effect from 1 February 1977 and Section 27 from 1 April 1977. [9]
For example, 42 C.F.R. § 260.11(a)(1) would indicate "title 42, part 260, section 11, paragraph (a)(1)." Conversationally, it would be read as "forty-two C F R two-sixty point eleven a one" or similar. While new regulations are continually becoming effective, the printed volumes of the CFR are issued once each calendar year, on this schedule:
The Maurya rule was a structured administration; Chandragupta had a council of ministers , with Chanakya was his chief minister. [ 145 ] [ 146 ] The empire was organised into territories ( janapada ), centres of regional power were protected with forts ( durga ), and state operations were funded with treasury ( kosa ). [ 147 ]