A SUMMARY OF GOOD AND SERVICES TAX (GST) WHAT IS GST? Good and service tax is a direct tax code to be implemented by the government. It is a comprehensive indirect tax to be levied on manufacture‚ sale and consumption of goods as well as services at a national level. Integration of goods and services taxation would give India a world class tax system and improve tax collections. It would end the long standing distortions of differential taxation treatments of manufacturing and service sector. The
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United States-The People’s Republic of China Income Tax Convention (1984) This Agreement shall apply to persons who are residents of one or both of the Contracting States (The People’s Republic of China‚ or United States of America‚ or both). The term of “resident of a Contracting State” means any person who‚ under the laws of that Contracting State‚ is liable to tax therein by reason of his domicile‚ residence‚ place of head office‚ place of incorporation or any other criterion of a similar nature
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SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES Goods & Services Tax Report submitted to Dr. Dhirendra Deshpande in partial fulfillment for the degree of Masters in Business Administration Symbiosis International University‚ Pune Abstract: This report is an attempt to understand the impact of GST on Indian economy. The report defines Sales Tax and Value-Added Tax (VAT). It then looks at the Goods and Services Tax (GST) design in India which has been adapted to suit the Indian taxation
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because: 1. Equity – horizontal equity as it treats individual in similar ways therefore it is fair. 2. Efficiency – taxpayer wont be required to go over through the legislation too much to find the out the section if they are liable or not for tax. 3. Certainty– having a personal property legislation provides a clear understanding. This will easy than going all the subsection and finding out which they are liable under or not. 4. Convenience/simplicity – easier to use as the taxpayers
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10(34). This includes deemed dividend under sections 2(22)(a) to (d). This is because such dividend attracts dividend distribution tax @ 12.5% in the hands of the company. (2) The TDS provisions under this section are attracted only in respect of deemed dividend referred to in section 2(22)(e)‚ if such dividend exceeds Rs. 2‚500 in a year. (3) The rate of deduction of tax in respect of such dividend is 20% plus surcharge‚ if applicable‚ plus education cess. (4) Under the proviso to section 194‚
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7 Sins 7 Sins slot There are plenty of slots out there on the net‚ but so few of them can come up with a theme which is as original as the 7 Sins slot. This particular slot machine game is based on the seven deadly sins (Envy‚ Gluttony‚ Greed‚ Lust‚ Pride‚ Sloth‚ and Wrath)‚ and Play ‘n Go have decided to make these sins appear as tempting women. You may not be lured over by most of those sins‚ but greed is a very powerful lure‚ and with the kinds of magical wins you can encounter in 7 Sins‚ you
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Three Deadly Sins of Greed Greed is one of the most deadly sins and there are three forms greed. Greed is the most committed sin in the world we see everyday a person wanting more money‚ power‚ or goods. This sin is one of the most commonly depicted sin in the world the make movie‚ TV shows‚ and songs about this sin. Shows like American Greed describe people that commit this sin almost everyday people like Henry Jones‚ Albert Gonzalez‚ and Scott Rothstein these people committed this sin everyday of
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him. GST is charged on the value or selling price of the products. The amount of GST incurred on input (input tax) can be deducted from the amount of GST charged (output tax) by the registered person. If the amount of output tax is more than the input tax in the relevant taxable period‚ the difference shall be remitted to the Government. However‚ if the input tax is more than the output tax‚ the difference will be refunded by the Government. STANDARD-RATED SUPPLIES Standard-rated supplies are
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Lauren Smith From: Tax Accountant‚ CPA Date: August 22‚ 2012 Re: Deductibility of Education Expense Facts You incurred $15‚000 in education expense during the tax year in the course of earning an MBA from a local university. You wants to deduct these expenses on her tax return as an employee business expense‚ as your employer does not have an education expense reimbursement program. Issue The issue is (1) whether education expenses can be deductible on the tax return as an employee
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The seven sins of memory describes the seven major categories of memory that have failed (Murray‚ 2003). These seven sins of memory were investigated by psychologists. The memory can be good or bad for short-term and long-term memories‚ since it can recall every detail from childhood. The brain is a very special to carry the memories to determine the flaws in the architecture of memory (Murray‚ 2003). Also‚ it can benefit people to learn the seven sins of memory to help them to understand what the
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