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CGST (Central Goods and Services Tax): When buying or selling things within one state, CGST is collected as an indirect tax by the central government in order to raise money for activities like infrastructure development and public services.
The Central Board of Indirect Taxes and Customs (CBIC), formerly the Central Board of Excise and Customs, is a statutory body under the Department of Revenue, Government of India. It oversees the administration of indirect taxes , including customs duties, excise duties, and the Goods and Services Tax (GST).
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 is imposed based on the Entry 52 of the State List from the Schedule VII of the Constitution of India which reads; "Taxes on the entry of goods into a local area for consumption, use or sale therein." [24] The tax is to be paid by the trader to the civic bodies and the rules and regulations of these vary amongst different States in ...
Depending on your state’s tax laws, you might avoid state taxes as well. Opening a money market fund may require a smaller minimum balance than money market accounts. Many funds let you begin ...
America is running massive deficits, and Trump’s tax cut plan could put the budget even deeper in the hole. Trump has said the tariffs will make up for lost revenue: He predicted last week in a ...
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President Donald Trump has issued a slew of executive orders (EO) since beginning his second term, including one that may have an impact on your tax refund.One of Trump’s EOs initiated a hiring ...
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