GST is a tax on goods and services with comprehensive and continuous chain of set-off benefits from the Producer’s point and Service provider’s point up to the retailer level.
The Goods and Services Tax is being billed as the significant next step in indirect tax reform since VAT was successfully introduced all over India.
However, in introducing GST, there are some objections from some State governments.
Traditionally India’s tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the India’s majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept, advantages, disadvantages and international scenario
Presentation on the Indirect Tax system in India, the need for tax reforms, the journey to GST, basic understanding and features of GST and the benefits of GST.
4 Key impact area on gst implementation synergytas
GST Malaysia is coming for real. With 4 key impact areas on implementation. Join us for the action plan on GST conducted by Dr Choong Kwai Fatt. Visit website www.synegytas.com/gstkls2 for more information.
GST is a tax on goods and services with comprehensive and continuous chain of set-off benefits from the Producer’s point and Service provider’s point up to the retailer level.
The Goods and Services Tax is being billed as the significant next step in indirect tax reform since VAT was successfully introduced all over India.
However, in introducing GST, there are some objections from some State governments.
Traditionally India’s tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the India’s majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept, advantages, disadvantages and international scenario
Presentation on the Indirect Tax system in India, the need for tax reforms, the journey to GST, basic understanding and features of GST and the benefits of GST.
4 Key impact area on gst implementation synergytas
GST Malaysia is coming for real. With 4 key impact areas on implementation. Join us for the action plan on GST conducted by Dr Choong Kwai Fatt. Visit website www.synegytas.com/gstkls2 for more information.
The debate over the implementation of Goods and Services Tax (GST) has been tiresomely long.
GST is a critical reform in spurring growth in the Indian economy.
When it is introduced, GST is expected to make the tax system simpler and will also help in increased compliance, boost tax revenues, reduce the tax outflow in the hands of the consumers and make exports competitive. The new government will hopefully set forth a roadmap for the implementation of GST soon.
Today’s lesson on GST attempts to simplify this concept for you.
The GST Council has relaxed filing rules for the first two months post implementation. Here's how to file your returns for these months using form GSTR 3B. To know more about GSTR 3B, visit our page https://cleartax.in/s/gstr-3b
Transition to GST could be a cumbersome process if preparations are not started immediately. VAT/Service tax taxpayers should complete the GST migration. Know more about GST Transitional Provision at https://cleartax.in/s/transition-to-gst/
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Tally introduces at the leading GST Suvidha Provider with a powerful GST enabled accounting software. Are you ready for GST? KMPL is the leading certified 5 Star partner of Tally Solutions
This ppt gives an overview of the proposed GST bill in India. This ppt has custom animations which look like overlapped content on slideshare-viewer. It is recommended to download it on your system and then open using powerPoint-viewer.
Brief Introduction of India's Biggest Tax Reform GST[GOODS & SERVICE TAX]. Its impact on Indian economy , Its Benefit, Limitations and its Current Scenario in Other Countries
about gst in india. all about one nation,one tax,what are he tax rates . hoew it is different from previous tax. why it is better,what are its benefits and disadvantages . what will be its impact in indian economy
specially for class 11 eco project i made this and good marks
helps in understanding gst
This presentation is on GST (Goods and Services Tax), it is about the new taxation system implemented in India. I have tried to keep all information about GST India.
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how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
1. GST
(Goods and Services Tax)
Biggest Tax Reform Since Independence…..
Swapnil W Borekar
MBA ++
Department Of Management
Sci. (PUMBA)
2. GST
‘G’ – Goods
‘S’ – Services
‘T’ – Tax
Goods and Service Tax (GST) is a comprehensive
tax levy on manufacture, sale and consumption
of goods and service at a national level.
GST is a tax on goods and services with value
addition at each stage.
GST will include many state and central level
indirect taxes
It overcomes drawback present tax system
3. Tax Structure in India
Direct Tax :
Incident and Impact at same point
e.g.: Income Tax, Corporate Tax, Wealth Tax
Indirect Tax :
Incident Impact are at different point.
e.g.: Excise duty, custom duty, Service Tax, Octrai Tax,
VAT, CENVAT.
4. Method Of Taxation
Progressive Tax :
Increasing rate of tax for Increasing Value or
Volume.
Regressive Tax :
Decreasing rate tax for Increasing Value or
Volume
Proportional Tax :
Fixed rate of tax for every level of income or
production
5. Short comings in current
Tax System
Tax Cascading (Tax on Tax)
Complexity
Taxation at Manufacturing Level
Exclusion of Services
Tax Evasion
Corruption
8. VAT
(Value Added Tax)
Implemented in April-1/2005
It is replacement to complex Sales Tax
It overcomes a Cascading Effect of Tax
It applied on “ Value Added Portion “ in sales
price
9. Illustration of VAT
• In the previous
example, ‘value
added’ by B is only
Rs.50 (150–100)
• tax on producer B
would be only Rs.5
(i.e., 10 % of Rs. 50)
while
• the tax paid in
previous system
was Rs. 15 (10 % of
Rs. 150).
• In Old Tax System Consumer has to pay Rs 220
• In VAT system Consumer Actually Paid Rs 205
10. Problems with VAT
A major problem with VAT is the way it taxes
inputs and outputs.
Input are taxed at 4 percent and outputs at 12.5
percent
Some goods are included in both CENVAT and
VAT
It is not uniform in nature
VAT is different for different States
number of exemptions for some sensitive
different rates of taxation for different goods
11. What is GST
GST is a comprehensive value added tax on goods and
services
It is collected on value added at each stage of sale or
purchase in the supply chain
No differentiation between Goods and Services as GST is
levied at each stage in the supply chain
Seamless input tax credit throughout the supply chain
At all stages of production and distribution, taxes are a
pass through and tax is borne by the final consumer
All sectors are taxed with very few exceptions /
exemptions
12. History
Feb, 2006 : First time introduced concept of GST
and announced the date of its implementation in
2010
Jan. 2007: First GST study by ASSOCHAM released
by Dr. Shome
Feb. 2007: F.M. Announced introduction of GST
from 1 April 2010 in Budget
The Government came out with a First Discussion
Paper on GST in November, 2009
Introduced the 115th Constitution Amendment
(GST) Bill in the year 2011.
13. Model Of GST
GST Structure
centre GST
GST to be levied
by the
Centre
State GST
GST to be levied
by the
Dual GST
GST to be levied by the Centre and the
States concurrently
14. Proposed GST Rate
Items Total GST
rates (in %)
Centre State
Goods 20 12 8
Services 16 8 8
Essential
Goods
12 6 6
Presently it is (26.5 % , CENVAT-14 % and State VAT 12.5% )
15. Taxes proposed to be
subsumed in GST
Central Taxes
Excise Duty
Additional Excise duty
Excise duty under medicinal and toilet
preparation Act
Service Tax
Additional Custom duty commonly known as
countervailing duty (CVD), special additional
duty( SAD)
Surcharge
CENVAT
16. Taxes proposed to be
subsumed in GST
State Taxes
Value added tax (VAT)
Entertainment tax levied by states
Luxury Tax
Tax on Lottery, betting and gambling
Entry tax other than for local bodies (Octroi)
17. Product Excluded from
GST
Petroleum Product
Alcohol
Tobacco Product
Purchase Tax
Zero Rating For Exports
18. Illustration Of GST
Product A VAT System GST System
Base Price 100 100
+ 12% Excise duty 12 NA
+12.5% VAT 14 NA
State GST NA 8
centre GST NA 12
Total Tax Burden 26 20
Value Of Product to Consumer 126 120
19. Benefits of GST
Transparent Tax System
Uniform Tax system Across India
Reduce Tax Evasion
Export will more competitive
20. Hurdles in Implementation
Dispute between centre and Tax over Tax Sharing
Highly sophisticated IT infrastructure required .
Issue of taxing financial services and e-commerce
is to be appropriately addressed and integrated.
Political Imbalace
21. GST Global Scenario
More than 140 countries have already introduced
GST/National VAT.
France was the first country to introduce GST
system in 1954.
Typically it is a single rate system but two/three
rate systems are also prevalent. Canada and
Brazil alone have a dual VAT.
Standard GST rate in most countries ranges
between 15-20%.