Indian FMCG sector with a market size of $13.1 billion is the fourth largest sector in the economy. A well established distribution network‚ intense competition between the organised and unorganised segments characterises the sector and makes it a unique sector. Even at the time of recession‚ growth in FMCG sector has not slowed down which makes it an important contributor for tax revenue. In fact‚ among the MNCs‚ their Indian arms have contributed more to parent entities than foreign counterparts
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introduce students to the fundamental concepts of the goods and services tax (‘GST’) and how it operates in Australia. Chapter 8 – Goods and services tax - overview: 1. Introduction 2. Relevant legislation 3. Format of the Acts 4. Policy reasons behind GST 5. Comparison to PAYG reforms 6. Terminology 7. Taxable supplies 8. GST-free supplies 9. Input taxed supplies 10. Creditable acquisitions
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Business e-Bulletin Vol. 1‚ Issue 1‚ 55-64 GOODS AND SERVICES TAX‚ PROBLEMS AND EFFECTS OF IMPLEMENTATION ABOOD MOHAMMAD SALMEEN ALEBEL INTRODUCTION In taxation‚ taxpayers are taxed in two forms: whether through direct taxes such as income tax and road tax or through indirect taxes such as the sales tax and the services tax. For direct taxes‚ taxpayers will definitely realize that they are facing the tax burden since taxpayers are required to declare their income and to pay tax accordingly to the
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WEEK 9 Introduction to GST * A goods and services tax (GST) was introduced into Australia on 1 July 2000 * It is a tax levied at the rate of 10% on the supply (sale) of most services and goods * Business registered under the GST legislation collect the tax on behalf of the Australian tax office (ATO) and remit the amounts collected to the ATO at regular intervals * Business are allowed to offset and GST they pay on buying services and goods against the GST collected on supplies
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policies related of Goods and Services Tax (GST). Currently‚ the rate of GST can be category to 3 rates which are standard rate‚ zero rate and exempt supplies. (Gst.customs.gov.my‚ 2014) GST can only be charged on the business was registered under the Malaysian Goods and Services Act 2014. The registration exemption is given if the business’s annual turnover of taxable supplier is below than the GST registration threshold. Thus‚ such businesses cannot charge GST on their products or services from their
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Sunny Leone didn’t grow up dreaming of being a porn star. It was the allure of financial independence and the surging popularity of South Asian culture in North America that drew the Punjabi princess to adult entertainment. And despite her conservative heritage‚ Leone‚ a former Penthouse Pet of the Year‚ has her family’s support - and no qualms about her career. "My parents encouraged me to be an extremely independent woman‚" says Leone‚ 26. "Throughout my childhood they always told me to never
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the group i want a talk about its the sierra club‚ it was found in 1892 the sierra club is the oldest grassroots environmental organization in the united states. the organization was founded in may 28‚ 1892 by a san francisco group of proffersors‚ businessmen and other professional led by john muir‚ john muir was a Scottish-born American naturalist‚ author‚ and early advocate of preservation of wilderness in the United States‚ the sierra club serves to protect land primarily in the united states
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Economics - 101 A recently story by Clancy Yeates from the Courier Mail dated December 3rd 2012‚ discusses groundwork laid out by the Australian Federal Government. The government aims to reduce the thousand dollar GST free threshold for goods bought from overseas online stores. The article refers to the assistant Treasurer David Bradbury and how he feels the policy will affect on retailers. Bradbury states “while this is not the biggest challenge confronting the retail sector‚ the government
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permanent home. For freshman year‚ my home‚ along with 119 others‚ is the connection dorm Sierra Madre‚ Tower 5. Within every room is a different dorm experience. Room placement‚ layout‚ decorations‚ amount of persons living together‚ light exposure‚ and neighbors all are factors that contribute to everyone’s first year at Cal Poly. Unlike the classic‚ beautiful appearance of the red-bricked dorms‚ Sierra Madre towers are dull‚ concrete boxes that resemble prisons without bars on the windows. My
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retailing industry after implementing the Goods and Services Tax (GST). Currently‚ Padini store is not affected from Sales tax due to the raw materials and machinery used in their manufacturers are eligible for exemption from the tax (Sales tax in Malaysia‚ 2013). By implementing GST‚ This make they feel is an additional cost of operating in this industry which is unfair to them. Thus‚ Padini store would be negatively impacted. With GST‚ the products that consumers buy from Padini store go through a
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