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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 ...
From 2015 to currently, the gross tax collection of the centre from service tax has amounted in excess of ₹ 2.10 trillion (US$26 billion). Service tax has been replaced by Goods and Services Tax in India. Service tax no longer applies to services in India. Central excise Logo of Customs and Central Excise
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.
An Act further to amend the Constitution of India. Officially known as The Constitution (One Hundred and First Amendment) Act, 2016, this amendment introduced a national Goods and Services Tax (GST) in India from 1 July 2017. [1] It was introduced as the One Hundred and Twenty Second Amendment Bill of the Constitution of India ,
Bharat Bill Payment System (BBPS) is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. This is still [when?] in the implementation stage. Guidelines for implementation of ...
The 2020 Union Budget of India ( ISO: 2020 kē liē Bhārat kā Kēndrīya Bajaṭ) was presented by the Finance Minister, Nirmala Sitharaman on 1 February 2020, as her second budget. This is the second budget of Narendra Modi -led NDA government 's second term. [1] [2] The Economic Survey for 2019–2020 was released on 31 January 2020, a day ...
Income tax is a key source of government funding. The Income Tax Department is the central government's largest revenue generator; total tax revenue increased from ₹ 1,392.26 billion (US$17 billion) in 1997–98 to ₹ 5,889.09 billion (US$74 billion) in 2007–08. In 2018–19, direct tax collections reported by the CBDT were about ₹ 11.17 ...
Government of India. The Government of India ( ISO: Bhārata Sarakāra; often abbreviated as GoI ), also known as the Central Government or union government, is the national authority of the Republic of India, a federal democracy located in South Asia, consisting of 28 union states and eight union territories.