adjusted against Rs.2 the tax payable. Hence the balance tax to be paid by the retailer to Government. is Re.1. 3. There are three different types of VAT. They are:- ← Gross Product Variant ← Income Variant ← Consumption Variant 4. Under the Gross Product Variant taxes paid on purchases of raw materials and components alone is allowed as deduction. Taxes paid on capital goods is not allowed as deduction. This method is not in use‚ as it does not allow tax
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The Analysis Of The Consumption Habit Of University Students 1. Introduction Consumption is an important part of the daily life. University students‚ as a special consumer group‚ have irreplaceable effects on leading the consumption trend and improving the consumption structure. Also‚ their characteristics of consumption and consumption status also reflect the student’s value orientation. In order to explore the consumption habit of university students‚ I conducted a survey among the students
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most important source of state finance‚ accounting for nearly 50% of state revenues. At the beginning‚ VAT was only applied to large businesses but over time it was extended to include all business sectors. A value added tax (VAT) is a form of consumption tax ‚ that is‚ a tax on goods and services. It is chargeable on all taxable supplies of goods and services by a taxable person while carrying out business. From the perspective of the buyer‚ it is a tax on the purchase price and from that of the
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According to Businessdictionary.com‚ value added tax (VAT) is define as Indirect tax on the domestic consumption of goods and services‚ except those that are zero-rated (such as food and essential drugs) or are otherwise exempt (such as exports). It is levied at each stage in the chain of production and distribution from raw materials to the final sale based on the value (price) added at each stage. It is not a cost to the producer or the distribution chain members‚ and whereas its full brunt is
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Conundrum of Consumption”‚ author Alan Thein Durning believes the consumer behavior and the detrimental effects of consumption are destroying the world’s natural environment. Durning discusses that consuming goods has become the way of life. Durning exposes that our appetites to live the American Dream have taken a toll on the earth’s natural environment‚ and suggests that there are other paths to fulfillment. Durning suggests the earth’s sustainability depends on the reduction of consumption levels and
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in the national output should be $60‚ not the sum of all those numbers; $100. The method of National Income by Output‚ Value Added method: GDP at market price = Value of Output in an economy in a particular year - Intermediate consumption NNP at factor cost = GDP at market price - Depriciation + NFIA (Net Factor Income from Abroad) - Net Indirect Taxes [6] The Income Approach The Income Approach focuses on finding the total output of a nation
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CUSTOMERS OPININON TOWARDS THE CONSUMPTION PATTERN OF CHOCOLATES Balaji.S Research Scholar‚ Sathyabama University & Asst.Prof. Deptartment of Management of Studies Jeppiaar Engineering College balajimbajeppiaar@gmail.com Vijayalakshmi M Research Scholar‚ Anna University & Asst.Prof. Department of Management Studies Jeppiaar Engineering College vijayamariappan@gmail.com Dr.S.Ramachandran Professor & Director‚Department of Management Studies ‚ Sri Sankara Arts and Science college‚ Chennai
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evaluating the short-term and long-term effect of implementation of Goods and Services Tax (GST) in Malaysia based on the experience of other countries like Australia‚ Singapore‚ Canada and so on. GST is known as Value Added Tax (VAT) is a broad-based consumption tax levied on goods and services. Bhupinder Singh concluded that there is hardly a definite way to evaluate the short-term and long-term impacts of the introduction of GST in Malaysia. The advantage of GST is that it only charges on the final supply
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article Ice cream consumption in India and rest of the world Last updated on: January 27‚ 2013 09:55 IST Almost all Indians love ice cream‚ but where do we rank in per capita consumption compared to the rest of the world? Let’s take a look at the global ranking based on research conducted by Unilever. Click NEXT to read more... Ice cream consumption in India and rest of the world Last updated on: January 27‚ 2013 09:55 IST New Zealand Per capita consumption: 28.4 litres per year
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Alcohol consumption and its consequent effects on health are on the rise in Africa. Reports published by the World Health Organization (WHO) have recorded some concerning trends. Despite average alcohol consumption per capita being only half of Europe’s (largely thanks to Africa’s many teetotal Muslims and Christians)‚ the latest WHO report found the region to have the highest rate of binge drinking in the world at 25%. "It’s true that most people in Africa don’t drink for cultural‚ religious and
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