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The GST is imposed at variable rates on variable items. The rate of GST is 18% for soaps and 28% on washing detergents. GST on movie tickets is based on slabs, with 18% GST for tickets that cost less than ₹100 and 28% GST on tickets costing more than ₹100 and 28% on commercial vehicle and private and 5% on readymade clothes. [33]
The GST replaced existing multiple taxes levied by the central and state governments. It is 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.
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.
The effects of certain kinds of taxes, for example, the property tax, including their economic incidence, efficiency properties and distributional implications, have been the subject of a long and contentious debate among economists. [14] The empirical evidence tends to support different economic models under different circumstances.
A hundred years later, the tax which was devised to be efficient and relatively simple to collect and enforce is, together with the goods and services tax (GST), now in place in over 140 countries globally. [8] General government revenue, in % of GDP, from indirect taxes.
Due to low base effect a number of infrastructure sectors such as natural gas and cement saw high double digit growth in March 2021; a number of related sector such as coal were still in recession. [334] In April the output of the core infrastructure sectors again saw high growth, again a consequence of the low base effect. [335]
The electricity sector uses mainly renewable energy sources such as hydropower, geothermal power and increasingly wind energy. The 83% share of renewable energy sources [ 163 ] makes New Zealand one of the most sustainable economies in terms of electricity generation; [ 164 ] in terms of total energy consumption in the New Zealand economy, this ...