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The GST replaced existing multiple taxes levied by the central and state governments. It an indirect tax (or consumption tax ) used on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
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.
This is a list of Indian states and union territories by their per capita Net state domestic product (NSDP). NSDP is the state counterpart to a country's Net domestic product (NDP), which equals the gross domestic product (GDP) minus depreciation on capital goods. [1] [2]
GSDP is the sum of all value added by industries within each state or union territory and serves as a counterpart to the national gross domestic product (GDP). [1] As of 2011 [update] , the Government accounted for about 21% of the GDP followed by agriculture with 21% and corporate sector at 12%.
A dual GST module for the country has been proposed by the EC. This dual GST model has been accepted by centre. Under this model GST have two components viz. the Central GST to be levied and collected by the Centre and the State GST to be levied and collected by the respective States.
Bombay State was enlarged by the addition of Saurashtra State and Kutch State, the Marathi-speaking districts of Nagpur division of Madhya Pradesh and the Marathwada region of Hyderabad State. Rajasthan and Punjab gained territories from Ajmer State and Patiala and East Punjab States Union respectively and certain territories of Bihar were ...
Meghalaya (/ ˌ m eɪ ɡ ə ˈ l eɪ ə, m eɪ ˈ ɡ ɑː l ə j ə /; [6] [7] lit. "the abode of clouds" [8]) is a state in northeast India.Meghalaya was formed on 21 January 1972 by carving out two districts from the state of Assam: (a) the United Khasi Hills and Jaintia Hills and (b) the Garo Hills. [9]
India is a federal constitutional republic governed under a parliamentary system consisting of 28 states and 8 union territories. [1] All states, as well as the union territories of Jammu and Kashmir, Puducherry and the National Capital Territory of Delhi, have elected legislatures and governments, both patterned on the Westminster model. The ...