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Goods and Services Tax (India) The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Service tax was a tax levied by the Government of India on services provided or agreed to be provided excluding services covered under the negative list and considering the Place of Provision of Service Rules 2012 and collected as per Point of Taxation Rules 2011 from the person liable to pay service tax. According to the Service Tax Rules 1994 ...
Goods and Services Tax[ 1] ( GST) in Australia is a value added tax of 10% on most goods and services sales, with some exemptions (such as for certain food, healthcare and housing items [ 2]) and concessions (including qualifying long term accommodation which is taxed at an effective rate of 5.5% [ 3] ). GST is levied on most transactions in ...
The Indian Revenue Service (Customs & Central Excise) ( IAST: Bhāratīya Rājasva Sevā ), often abbreviated to IRS (Customs & Central Excise) or IRS (Customs & Indirect Taxes), now called IRS (C&IT) is a part of central civil service of the Government of India. It functions under the Department of Revenue of the Ministry of Finance and is ...
November 2018. ^ "₹1,61,497 crore gross GST revenue collected for June 2023; records 12% Year-on-Year growth". ^ "₹1,44,616 crore gross GST Revenue collection for June 2022; increase of 56% year-on-year Gross GST collection in June 2022 is the second highest collection next to the April 2022 collection GST collection crosses ₹1.40 lakh ...
Individual income tax VAT or GST or Sales tax Capital gains tax [1] Inheritance/Estate Tax Further reading Lowest marginal rate Highest marginal rate Afghanistan: 20% [2] 0% [3] 20% [3] 0% [4] However, in Taliban run areas pre-Taliban rule, small fees were illegally added to some groceries. [5] Taxation in Afghanistan Albania: 15% [6] 0% [7] 23 ...
The Goods and Services Tax ( GST) is an abolished value-added tax in Malaysia. GST is levied on most transactions in the production process, but is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer. The existing standard rate for GST effective from 1 April 2015 is 6%.
The Income Tax Service was established in 1944 and was subsequently re-constituted as the Indian Revenue Service (Income Tax) in 1953. In 1963, given the increasingly complex roles and responsibilities of administering direct tax in India, the Central Board of Direct Taxes was constituted as a statutory body under the Central Board of Revenue ...