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The GST replaced existing multiple taxes levied by the central and state governments. Also, to boost GST billing in India, the Government of India, in association with state governments, has launched an "Invoice Incentive Scheme" (Mera Bill Mera Adhikaar). This will encourage the culture of customers asking for invoices and bills for all purchases.
The Indian Revenue Service (Customs & Central Excise) ( IAST: Bhāratīya Rājasva Sevā ), often abbreviated to IRS (Customs&CentralExcise) or IRS (Customs&IndirectTaxes), now called IRS (Customs&GST) 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 ...
Sanjay Agarwal, IRS (C&CE:88) is the present Chairman of Central Board of Indirect Taxes and Customs. The Chairperson is equivalent to Secretary to Government of India and comes at position number 23 in Order of precedence of India. [2] The CBIC Chairperson is ex-officio secretary and is under the direct charge of the Revenue Secretary of India.
In April, 2008, the EC submitted a report, titled "A Model and Road map for Goods and Services Tax (GST) in India" containing broad recommendations about the structure and design of GST. In response to the report, the Department of Revenue made some suggestions to be incorporated in the design and structure of proposed GST bill.
The Ministry of Finance ( IAST: Vitta Maṃtrālaya) is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget. [1]
The Indian Revenue Service ( IAST: Bhāratīya Rājasva Sevā ), often abbreviated as IRS, is a civil service that is primarily responsible for collecting and administering direct and indirect taxes. As a central civil service under Group A [4] of the executive branch of the Government of India, it functions under the Department of Revenue [5 ...
It is creating the framework for a financing product that is based on GST invoices. Additionally, efforts are being made to standardize the data format that is stored on buyer-side applications' platforms. The goal is to enable lenders and insurance providers to incorporate the data into their rule engines so they can identify the right clients.
Pradhan Mantri Jeevan Jyoti Bima Yojana ( Prime Minister Jeevan Jyoti Insurance Scheme) is a Government -backed Life insurance scheme in India. It was originally mentioned in the year 2015 Budget speech by the then- Finance Minister, late Arun Jaitley in February 2015. [1] It was formally launched by Prime Minister Narendra Modi on 9 May in ...