Very recently during the Post-Budget session of the Parliament, The GST bill was passed. The Goods & Service Tax Bill, As is the Full form has raised questions as to whether there will be an increase in Taxation or the Tax imposed by the government if India will decrease the budget of the middle class life.
Let’s find out what GST is and what are the pros and cons, or rather how it is going to affect us.
GST is actually another form of VAT or the Value Added Tax. Now, this tax will be a combination of all the other indirect taxes to be imposed in an uniform way throughout India. In the current situation, where the different states can fix their own rates, when GST is brought in, the rate will be same for all states. The states of India will now be sharing Central sales Taxes which earlier the Centre would solely get and vice versa, the Centre will have a share of the Service Taxes imposed within the states of India.
WHAT IS THE USEFULNESS OF GST?
Esta historia es de la edición June 2017 de Mad About Money.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 2017 de Mad About Money.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Pharma In Focus
The pharmaceutical industry is one of the biggest paperintensive industries in the world and of course, is responsible for the health and general well-being of the population.
The Adhaar Story
Quite frankly, the Adhaar policy took the country by storm. The 12 digit number has promised to replace every proof of identity for all Indians to make any registration process much easier to navigate.
Why Millennials Wish They Had Grown Up In Baby Boomers' Times
Growing technology and evolving mindsets have caused disparity and to some extent a wide gap between the two generations. Yes, we are talking about Millennials and Baby Boomers.
The Public Provident Scheme
The PPF scheme was introduced by the Ministry Of Finance (MOF), govt. Of India in the year 1968 to encourage tax free savings by the people. People could deposit money in ppf accounts and the interest earned on those deposits were tax exempted.
Starting With A Silver Spoon Is Not Essential To Be Wealthy
Yes, probably we all envy the Mittals, the Kapoors, the Mallyas! Not because they are billionaires, but because the coming generation would also inherit the wealth and affluence that has been there since years. Perhaps, the great grandson of Vijay Mallya would be able to spend his entire life slurging and indulging into luxury without even stepping out of his house! Probably Taimur Khan, son of Saif and Kareena, would get casted in some big budgeted flick by some renowned filmmaker, to get launched without even struggling to show his acting skills.
The Indian Solar Energy Sector - Will It Make A Comeback In 2018?
The Indian Solar Energy Sector - Will It Make A Comeback In 2018?
Smart Investments In Smart Commercial Real Estate
Investing in Commercial Real Estate is no different from any other investments, specifically the traditional residential real estate investment, in the sense that it requires doing your proper research and homework before getting into it. However, to become a smart investor one needs to understand the subtle differences that commercial real estate investment has over the residential version of it.
Extravagant Lifestyles Of The Wealthy
If you happen to be an average person who thinks apple phones are all about the makers and impressive specifications you could be mistaken.
India Post Payment Bank Rollout Plan
May 2018 is an important month for various reasons, one of them being the India post payment banks PAN-India roll out from may! Refuting all the speculations of delays, etc.
Desi Startups For Microsoft Ventures
India recently has been booming with various startups, catering to the regular needs of people, with sound supply chain and operational planning. Considering the innovative ideas of the startups and their rapidly growing popularity, global tech giant Microsoft is looking at investing in Indian tech startups through its venture funding arm. This news came from a senior official from Microsoft. Definitely this is going to be a revolutionary step in Indian economy.
