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Author : R. Kavita Rao
Publisher : Cambridge University Press
Page : 217 pages
File Size : 48,14 MB
Release : 2019-05-23
Category : Business & Economics
ISBN : 1108473962
Studies the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977.
Author : Dr. H.C. Mehrotra, Prof. V.P. Agarwal
Publisher : Sahitya Bhawan Publications
Page : 348 pages
File Size : 19,19 MB
Release : 2020-07-01
Category : Business & Economics
ISBN : 9386830000
About the Goods and Services Tax Book: The law stated in this book is as amended up to June 2020. Most authentic, up-to-date, and comprehensive textbook on GST. The book covers all topics of the syllabi of various universities for undergraduate and postgraduate courses. In the present revised edition almost all the chapters have been thoroughly revised and updated and a chapter on Payment and Refund of Tax (with TDS and TCS) has been completely rewritten. At the end of each chapter large number of MCQ and Short Questions (Over 300 in number) with Ans. have been given which enables students to learn faster. This unique feature will serve as the backbone in understanding the whole chapter. Law relating to GST has been discussed thoroughly in easy language and in a lucid style. The questions asked in recent university examinations have been incorporated in the book. Every chapter contains a complete explanation of the topic with suitable examples and, where necessary, followed by graded solved illustrations and questions for practice with Ans.
Author : Dr. Sanjeet Sharma
Publisher : VK Global Publications
Page : 525 pages
File Size : 46,39 MB
Release : 2020-04-27
Category : Business & Economics
ISBN : 9387516458
Strictly according the the syllabus prescribed by: Himachal Pradesh University, Shimla for B.Com.-III Guru Nanak Dev University, Amritsar for B.Com. (Pass & Hons.), Sem.-IV Panjab University, Chandigarh for B.Com.-II, Sem.-III and BBA-II, Sem.-IV
Author : Dr. Makarand Raghunath Sakhalkar
Publisher : Lulu.com
Page : 220 pages
File Size : 48,88 MB
Release : 2018-03-05
Category : Education
ISBN : 1387483781
Based on recommendations made by Chelliah Committee on Tax Reforms, Service Tax was introduced for the first time in the year 1994. It is a Union levy, with a selective approach, whereby it is applicable to selected categories of services and not to all the services.The system of levy and collection of Excise Duties on goods is in existence since 1944 under Central Excise Act 1944. However, the concept of levy and collection of Service Tax on paid services was introduced in India for the first time in 1994 by the then Finance Minister Dr. Manmohan Singh. It is a tax levied on the transaction of certain specified services by the Central Government under the Finance Act, 1994. It is an indirect tax, which means that normally the service provider pays the tax and recovers the amount from the recipient of taxable service.
Author : Shubham Sinha
Publisher : Indian Law Series
Page : 408 pages
File Size : 44,77 MB
Release :
Category : Law
ISBN : 1519756429
This is book is a set of BARE ACT of service tax rules as declared by govt. authorities in India and is valid throughout the territories of India. Service tax is a tax levied by Central Government of India on services provided or to be provided excluding services covered under negative list and considering the Place of Provision of Services Rules, 2012 and collected as per Point of Taxation Rules, 2011 from the person liable to pay service tax. Person liable to pay service tax is governed by Service Tax Rules, 1994 he may be service provider or service receiver or any other person made so liable. Few services are presently exempt in public interest via Mega Exemption Notification 25/2012-ST as amended up to date & few services are charged service tax at abated rate as per Notification No. 26/2012-ST as amended up to date. Presently from 1 June 2015, service tax rate has been increased to consolidated rate @ 14% of value of services provided or to be provided. The service tax rate now is consolidated rate as education cess & secondary higher education cess are subsumed with 2% of "Swachh Bharat Cess(0.50%)" has been notified by the Government. Dr. Raja Chelliah Committee on tax reforms recommended the introduction of service tax. Service tax had been first levied at a rate of five per cent flat from 1 July 1994 till 13 May 2003, at the rate of eight percent flat w.e.f 1 plus an education cess of 2% thereon w.e.f 10 September 2004 on the services provided by service providers. The rate of service tax was enhanced to 12% by Finance Act, 2006 w.e.f 18.4.2006. Finance Act, 2007 has imposed a new secondary and higher education cess of one percent on the service tax w.e.f 11.5.2007, increasing the total education cess to three percent and a total levy of 12.36 percent. The revenue from the service tax to the Government of India have shown a steady rise since its inception in 1994. The tax collections have grown substantially since 1994-95 i.e. from 410 crore (US$61 million) in 1994-95 to 132518 crore (US$20 billion) in 2012-13. The total number of Taxable services also increased from 3 in 1994 to 119 in 2012. However, from 1 July 2012 the concept of taxation on services was changed from a 'Selected service approach' to a 'Negative List regime'. This changed the taxation system of services from tax on some Selected services to tax being levied on the every service other than services mentioned in Negative list.
Author : Pb Epublisher
Publisher : Pb Epublisher
Page : 68 pages
File Size : 19,81 MB
Release :
Category : Business & Economics
ISBN :
Incorporating A Comprehensive & Simplified Guide to Ind AS, Comparative Study of IFRS/Indian GAAP/Ind AS, Ind AS Carve-outs, Illustrative Ind AS Financials, Income Computation & Disclosure Standards
Author : Navneet Singh
Publisher : Navneet Singh
Page : 29 pages
File Size : 17,94 MB
Release :
Category : Business & Economics
ISBN :
India has a comprehensive taxation system that encompasses various taxes at both the central and state levels. Here's an overview: Central Taxes: Income Tax: Governed by the Income Tax Act, 1961, income tax is levied on the income of individuals, Hindu Undivided Families (HUFs), companies, and other entities. The tax rates vary based on the income slab and the type of taxpayer. Goods and Services Tax (GST): GST is a comprehensive indirect tax levied on the supply of goods and services throughout India. It replaced various indirect taxes such as service tax, VAT, central excise duty, etc., and is governed by the GST Act. Customs Duty: Customs duty is levied on the import and export of goods into and out of India. It is governed by the Customs Act, 1962. Excise Duty: Excise duty is a tax levied on the production or manufacture of goods in India. However, with the introduction of GST, most goods are now subject to GST rather than excise duty. Central Sales Tax: CST is levied on the sale of goods from one state to another in India. However, it has been subsumed under GST. State Taxes: Value Added Tax (VAT): VAT was a state-level tax levied on the sale of goods within a state. It has been replaced by GST. State Goods and Services Tax (SGST): SGST is a component of GST that is levied by the state government on intra-state supplies of goods and services. State Excise Duty: State excise duty is levied by state governments on the manufacture and sale of alcoholic beverages and certain other goods. Stamp Duty: Stamp duty is levied by state governments on various instruments such as property transactions, share transfers, and agreements. Local Taxes: Property Tax: Property tax is levied by local bodies such as municipal corporations or municipalities on the value of property owned by individuals or entities. Professional Tax: Professional tax is levied by state governments on the income earned by individuals engaged in professions such as lawyers, doctors, etc. Other Taxes: Capital Gains Tax: Capital gains tax is levied on the profit earned from the sale of capital assets such as real estate, stocks, and mutual funds. Securities Transaction Tax (STT): STT is levied on the purchase and sale of securities such as stocks and derivatives. India's taxation system is governed by various tax laws, rules, and regulations, and it undergoes periodic amendments to align with the changing economic and fiscal landscape. It's always recommended to consult with a tax professional or refer to the latest tax regulations for specific details and compliance requirements.
Author : Tripti Tripathi
Publisher : Business Science Reference
Page : 0 pages
File Size : 43,30 MB
Release : 2019
Category : Business & Economics
ISBN : 9781522574019
Behavioral finance challenges the traditional assumption that individuals are rational by focusing on the cognitive and emotional aspects of finance, which draws on psychology, sociology, and biology to investigate true financial behavior. The financial sector requires sound understanding of market dynamics and strategic issues to meet future challenges in the field. Behavioral Finance and Decision-Making Models seeks to examine behavioral biases and their impact on investment decisions in order to develop better future plans and strategies in the financial sector. While highlighting topics including behavioral approach, financial regulation, and globalized sector, this book is intended for policymakers, technology developers, managers, government officials, academicians, researchers, and advanced-level students.
Author : Dr. Paritosh Awasthi
Publisher : Lulu.com
Page : 166 pages
File Size : 24,47 MB
Release : 2017-06-21
Category : Education
ISBN : 1387017896
Funds provided by taxation have been used by states and their functional equivalents throughout history to carry out many functions. Some of these include expenditures on war, the enforcement of law and public order, protection of property, economic infrastructure (roads, legal tender, enforcement of contracts, etc.), public works, social engineering, and the operation of government itself. Most modern governments also use taxes to fund welfare and public services. These services can include education systems, health care systems, pensions for the elderly, unemployment benefits, and public transportation. Energy, water and waste management systems are also common public utilities. Governments use different kinds of taxes and vary the tax rates. This is done to distribute the tax burden among individuals or classes of the population involved in taxable activities, such as business, or to redistribute resources between individuals or classes in the population.
Author : B. Viswanathan
Publisher :
Page : 0 pages
File Size : 10,44 MB
Release : 2016
Category : Value-added tax
ISBN : 9788177084290
Restructuring of the tax system has constituted a major component of fiscal reforms in India since 1991. The main focus of the tax reforms has been on simplification and rationalization of both direct and indirect taxes, with the objective of augmenting revenues and removing anomalies in the tax structure. Tax reforms in recent years have brought the tax system much closer to international tax practices. The current structure of taxes on goods and services in India is highly complex, riddled with exemptions, and characterized by complicated compliance procedures. The strategy of the Government in respect of indirect taxes is to continue the tariff reforms process towards mean Asian levels of customs tariff, convergence towards a single rate of excise duty (with some exceptions), widening of service tax base, and a phased move towards a fully-integrated goods and services tax (GST). This book traces the evolution of taxation of goods and services (indirect taxes) in India during the post-Independence period. More importantly, it analyzes the present structure of indirect taxes and the harmonization measures undertaken by the Government in this regard. It also examines and sets forth core issues pertaining to the proposed national level GST which is expected to be rolled out in the near future. [Subject: India Studies, Economics, Taxation, Public Finance, Public Policy, Business]