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In April, 2008, the EC submitted a report, titled "A Model and Road map for Goods and Services Tax (GST) in India" containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST bill.
[21] [22] It is one of the few midnight sessions that have been held by the parliament - the others being the declaration of India's independence on 15 August 1947, and the silver and golden jubilees of that occasion. [22] After its launch, the GST rates have been modified multiple times, the latest being on 10 May 2023 where taxpayer with over ...
Part XXII is a compilation of laws pertaining to the constitution of India as a country and the union of states that it is made of. This part of the constitution contains Articles on short title, date of commencement, Authoritative text in Hindi and Repeals. [1]
Article 246 [3] of the Indian Constitution, distributes legislative powers including taxation, between the Parliament of India and the State Legislature. Schedule VII enumerates these subject matters with the use of three lists: [3] List - I entailing the areas on which only the parliament is competent to make laws,
Place land reform acts and amendments to these act under Schedule 9 of the constitution. 67th: Amend article 356. [75] 4 October 1990 Article 356 amended to permit President's rule up to four years in the state of Punjab. 68th: Amend article 356. [76] 12 March 1991 Article 356 amended to permit President's rule up to five years in the state of ...
The Preamble of the Constitution of India – India declaring itself as a country. The Fundamental Rights, Directive Principles of State Policy and Fundamental Duties are sections of the Constitution of India that prescribe the fundamental obligations of the states to its citizens and the duties and the rights of the citizens to the State. These sections are considered vital elements of the ...
Although a fixed exchange rate system helped India to achieve currency stability, it also necessitated that the Indian Government utilize its foreign exchange reserves in the event of currency pressures in order to avoid a breach of the currency peg especially since speculators are attempting to profit of off breaking the peg.
The 52 items currently on the list are: [5] [6] 1. Criminal law, including all matters included in the Indian Penal Code at the commencement of this Constitution but excluding offences against laws with respect to any of the matters specified in List I or List II and excluding the use of naval, military or air forces or any other armed forces of the Union in aid of the civil power.