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The portal has transformed public procurement in India [1] by driving its three pillars, namely, inclusion, usability and transparency and efficiency and cost savings. [7] According to an independent assessment made by the World Bank, average savings for buyers in Government e Marketplace portal is about 9.75% on the median price. [8]
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. [1]
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. [6] [7] Positive outcomes of the GST includes the travel time in interstate movement, which dropped by 20%, because of disbanding of interstate check ...
Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax .
Skiing great Lindsey Vonn has announced that she will make her World Cup return at St Moritz, Switzerland next weekend.. In a video posted by her sponsor, Red Bull, on Friday, the 40-year-old Vonn ...
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The Goods and Services Tax (GST) is an abolished value-added tax in Malaysia. GST is levied on most transactions in the production process, but is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer. The existing standard rate for GST effective from 1 April 2015 is 6%.