Noise pollution Essay in English 200 words Noise pollutionQuestion Create an essay or project on noise pollution for students and sound pollution effectsIntroduction of noise pollution Noise pollution is a disturbance to the human surroundings this is escalating at such a high rate that it turns into a primary Read more…
essay on a rainy day for class 6,7,8,9,10,12 Th rainy day activities near me class 12th best 2 essay rainy day activities for children rainy day activities for childrenrainy essay on a rainy day for class 6,7,8,9,10,12 Th 1. Introduction-Never had I seen such a sultry summer as Read more…
Your favourite teacher Essay for class 10 Keywords-Favourite teacher in our society Place Of Teachers In Our Society Your favourite teacher Teaching has been considered in our society as a profession with a mission. Each and every discussion on teachers invariably begins with a charged elaboration of the exalted position accorded to them by Read more…
Our National flag essay writing in English Our National Flag is a symbol of India’s vision of life and of the central, vital and eternal aims and ideals of our life. It is a high minded symbol. It does not flaunt military power, territorial possessions or economic superiority. It is Read more…
G.S.T. (Goods and Services Tax- (0ne Country One Tax)
|Indian GST Goods And Services Tax How it work|
Introduction: GST Goods and Services Tax is an indirect tax. The GST Bill was discussed in length in Parliament in order to end the prevailing taxation 5ystem of imposing various indirect taxes and implement a new taxation 5) stem in which most of these taxes will be covered under one umbrella.
Implementation: On 8 September 2016, President of India Mr. Pranab Mukherjee gave assent to this bill making it an Act. It was to be brought in effect from 1 July 2017. A special ceremony took place in which the President, the Prime Minister with his cabinet and many dignitaries and celebrities were present. The GST was declared to be implemented by clapping. ‘
Previous System of Tax: Previously taxes were charged on every stage namely Excise duty on Manufacture, VAT/CST on state, entry tax on entry of Goods in a local area, etc. This ‘Tax on Tax’ resulted in hiking prices of Goods or Services. These taxes were imposed by the Centre and State differently according to the lists in the Constitution of .lndia.
Features of Goods and Services Tax: The concept of GST Goods and Services Tax is that it would be a single tax system which would be levied on the supply of Goods and Services and this tax will be jointly imposed by the Centre and State. It comprises five laws(i) Central GST law, (ii) State GST law, (iii) Union Territories GST law, (iv) Integrated GST law, and (v) Goods and Services (Compensation to State) law. This tax is not applicable in, Jammu and Kashmir (under article 370).
Key Features :
(i) It is going to remove the cascading of taxes that means a tax on tax
(ii) It has moved the tax system from production to consumption. ‘
(iii) It has interlinked everything from suppliers to consumers.
Progressive Tax: GST, Goods and Services Tax will have different tax rates for different commodities because a similar tax on all products is not‘possible and not recommended as the relevant consumer group is different for different products. (09’0 . the tax will be levied on Food Grains. Other tax brackets are 5″ a, 129 o, 18%,, and 28%), There will be a reduction in prices. It will put better Goods and Services to the populace and as such it will increase the living status of the country. ‘
Benefits of Goods and Services Tax: The very basic benefit of GST is that it will reduce the possibility of tax manipulation by authorities. There is only one single tax to be; paid in contrast to multiple taxes in the the earlier system. It is much more transparent ‘ and the consumer will be the most benefitted party. It will also promote national integration.
Widely Accepted of Goods and Services Tax: All the state legislative Assemblies of the country gave their assent to GST. People, Political Leaders, Media,, and other persons have supported it. It may come up with flying colours like ‘Note Bandi’.
Criticism of Goods and Services Tax: Some political parties, various groups, Trade companies ‘ are critical of the GST. They feared that its proceedings might be lengthy and harassing to the business enterprises. Many political leaders said that instead of reducing the prices of Goods, it will increase them. It was nicknamed as “Gabbar Singh Tax”.
Conclusion: It is claimed that there will be a reduction in prices for Goods. Many complexities may arise in the implementation of this tax. The government
has assured that it will be examined from time to time and it will be revised as per the needs of the situation. It is considered that slowly gradually its benefits Will become practical. GST and its Impact in Economic
The introduction of Goods and Services Tax on 1st of ‘ July 2017 was a very Significant step in theifield of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax, the aim was to mitigate cascading or double taxation in a major way and pave the way for a common national market.
From the consumer point of view, the biggest advantage would be 1n terms of a reduction 1n the overall tax burden on goods, Which was estimated to be around 25 to 30 per cent. The introduction of GST would also make Indian products competitive in the domestic and international markets. Studies show that this would have. a positive impact on economii: growth. Because of its transparent and self policing character this tax would be easier to administer.
GST would be applicable on ‘supply’ of goods or servibes as against the present concept of a tax on .the manufacture of goods. GST would be based on the principle‘of destination based consumption taxation as against the present principle . of o’rigin-based taxation. It would be a dual GST with Centre. and the States simultaneously leaving it on a common base. GST to be levied by the centre would be called Central GST or
CGST andthat to be levied by the states (including Ummm Territories with legislature) would be called state GST 01 ‘ses’r; Union Territories without legislature would levy Union territory GST or UTGST. “” ‘. GST will help to create a unified commO market for India, giving’a boost to foreign investment and. ‘Make in India’ campaign. It will boost export and manufacturing activity. It will also generate more. employmeflt and thus increase GDP with gainful employment leading to.substantive economic growth Through GST the government would improve the overall .. investment climate in the country, and it will naturally ‘benefit the economic development of the nation n national
COMMUNAL HARMONY IN INDIA Communal harmony in india-Religious harmony in India is an idea that demonstrates that there is love, warmth in the middle of various religions in India. The Indian constitution underpins and empowers religious harmony. In India, each resident has an option to pick and practice any religion. Read more…
Essay writing Language Problem in India 350 Words India is divided into many states and territory. So there is a big Language Problem In India . But It is important because language is basic. There are two official languages of India, namely, Hindi in Devanagari script and English in Roman Read more…
Write an Essay about My Teacher For Class 10and 12th. A teacher is a person who always imparts knowledge, values, virtues. He is a source of inspiration for his/her students at school and the outside in the world.
Essay on The Generation Gap for class 10 and 12th A generation gap refers to a topic that expresses beliefs, political values, and differences between one generation and another. In particular, a generation gap can be used to describe differences in actions, beliefs, and tastes exhibited by members of the Read more…