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Goods And Services Tax (India)
Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes. Goods and services are divided into five different tax slabs for collection of tax: 0%, 5%, 12%, 18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax system. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. In addition a ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indirect Tax
An indirect tax (such as sales tax, per unit tax, value added tax (VAT), or goods and services tax (GST), excise, consumption tax, tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased. Alternatively, if the entity who pays taxes to the tax collecting authority does not suffer a corresponding reduction in income, i.e., impact and tax incidence are not on the same entity meaning that tax can be shifted or passed on, then the tax is indirect. An indirect tax is collected by an intermediary (such as a retail store) from the person (such as the consumer) who pays the tax included in the price of a purchased good. The intermediary later files a tax return and forwards the tax proceeds to government with the return. In this sense, the term indirect tax is contrasted with a direct tax, which is collected directly by government from the persons (legal or natu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rajiv Gandhi
Rajiv Gandhi (; 20 August 1944 – 21 May 1991) was an Indian politician who served as the sixth prime minister of India from 1984 to 1989. He took office after the 1984 assassination of his mother, then Prime Minister Indira Gandhi, to become the youngest Indian Prime minister at the age of 40. Gandhi was from the politically powerful Nehru–Gandhi family, which had been associated with the Indian National Congress party. For much of his childhood, his maternal grandfather Jawaharlal Nehru was prime minister. Gandhi attended college at the University of Cambridge in the United Kingdom. He returned to India in 1966 and became a professional pilot for the state-owned Indian Airlines. In 1968, he married Sonia Gandhi; the couple settled in Delhi to a domestic life with their children Rahul Gandhi and Priyanka Gandhi Vadra. For much of the 1970s, his mother Indira Gandhi was prime minister and his brother Sanjay Gandhi an MP; despite this, Rajiv Gandhi remained apolitical. Aft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Twelfth Finance Commission Of India
The Twelfth Finance Commission of India was appointed on 1 November 2002 to make recommendations on the distribution of net proceeds of sharable taxes between union and states. The commission was headed by veteran economist of India, C. Rangarajan. The commission submitted its report on 30 November 2004 and covered the period from 2005-10. Members The members of the Commission were: * Dr. C. Rangarajan, Chair * Shri T.R Prasad, Indian Administrative Service, IAS (retired) * Prof. D.K Srivastava * Shri Som Pal, Part time Member, resigned 14 May 2004 * Dr. Shankar N. Acharya, Part time Member, replacing Som Pal from 2 July 2004 Terms of Reference The commission was asked to make recommendations on the following matters: # The distribution of net proceed of taxes between union and states which are to be divided under chapter 1 part 12 of the constitution. # The policies required to increase the consolidated fund of states on the basis of recommendation made by the finance commiss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vijay Kelkar
Vijay L. Kelkar (born 15 May 1942) is an Indian economist and academic, who is currently the Chairman of the Forum of Federations, Ottawa & India Development Foundation, New Delhi and Chairman of Janwani – a social initiative of the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) in Pune. He has been appointed as a trustee of Sri Sathya Sai Central Trust (Puttaparthi, A.P.) on 4 January 2014. He was also the Chairman of the Finance Commission until January 2010. He was earlier Advisor to the Minister of Finance (2002–2004), and is known for his role in economic reforms in India. Prior to this, he remained Finance Secretary, Government of India 1998–1999, and in 1999 he has been nominated as Executive director of India, Bangladesh, Bhutan and Sri Lanka on the board of the International Monetary Fund (IMF). Early life Kelkar, holds B.E., from College of Engineering Pune, India, 1963, M.S., from University of Minnesota, US, 1965 and Ph.D. in economics from Uni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India Today
''India Today'' is a weekly Indian English-language news magazine published by Living Media India Limited. It is the most widely circulated magazine in India, with a readership of close to 8 million. In 2014, ''India Today'' launched a new online opinion-orientated site called the ''DailyO''. History ''India Today'' was established in 1975 by Vidya Vilas Purie (owner of Thompson Press), with his daughter Madhu Trehan as its editor and his son Aroon Purie as its publisher.Bhandare, Namita"70's: The decade of innocence".''Hindustan Times''. Retrieved 29 July 2012. At present, ''India Today'' is also published in Hindi, Tamil, Malayalam and Telugu Telugu may refer to: * Telugu language, a major Dravidian language of India *Telugu people, an ethno-linguistic group of India * Telugu script, used to write the Telugu language ** Telugu (Unicode block), a block of Telugu characters in Unicode S .... The India Today news channel was launched on 22 May 2015. In October 2017, Aroon P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asim Dasgupta
Dr. Asim Kumar Dasgupta (born 30 October 1945) is an Indian economist and politician. He served as minister of finance and excise in the Left Front ministry in the Indian state of West Bengal. He was the MLA of Khardaha constituency for twenty-four years until 13 May 2011, when he was defeated by FICCI secretary general Amit Mitra by a landslide 26,154 votes in the 2011 Assembly Election of West Bengal. He was one of the 26 ministers who lost his seat this historic defeat of Communist Party of India (Marxist) led Left Front government. Education and early life He started his school life in Malda Zilla School and Then he earned his Undergraduate and Postgraduate Degrees in Economics from the University of Calcutta. Thereafter he secured a doctorate (PhD) in economics from the Massachusetts Institute of Technology. He started his career as a college lecturer and retired as a professor of economics at the University of Calcutta, before moving on to a career in politics. Role a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Bengal
West Bengal (, Bengali: ''Poshchim Bongo'', , abbr. WB) is a state in the eastern portion of India. It is situated along the Bay of Bengal, along with a population of over 91 million inhabitants within an area of . West Bengal is the fourth-most populous and thirteenth-largest state by area in India, as well as the eighth-most populous country subdivision of the world. As a part of the Bengal region of the Indian subcontinent, it borders Bangladesh in the east, and Nepal and Bhutan in the north. It also borders the Indian states of Odisha, Jharkhand, Bihar, Sikkim and Assam. The state capital is Kolkata, the third-largest metropolis, and seventh largest city by population in India. West Bengal includes the Darjeeling Himalayan hill region, the Ganges delta, the Rarh region, the coastal Sundarbans and the Bay of Bengal. The state's main ethnic group are the Bengalis, with the Bengali Hindus forming the demographic majority. The area's early history featured a succession ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance Minister
A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", "finance", "financial affairs", "economy" or "economic affairs". The position of the finance minister might be named for this portfolio, but it may also have some other name, like "Treasurer" or, in the United Kingdom, " Chancellor of the Exchequer". The duties of a finance minister differ between countries. Typically, they encompass one or more of government finance, fiscal policy, and financial regulation, but there are significant differences between countries: * in some countries the finance minister might also have oversight of monetary policy (while in other countries that is the responsibility of an independent central bank); * in some countries the finance minister might be assisted by one or more other ministers (some supported ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bimal Jalan
Bimal Jalan (born 17 August 1941) is a former Governor of Reserve Bank of India and was a nominated member of the Upper House of India's Parliament, the Rajya Sabha during 2003–2009. Education and career Jalan graduated from Presidency College, Calcutta, and later attended Cambridge and Oxford but no further detail as to his course of study is known publicly. Jalan held several administrative and advisory positions in the Government of India, namely, Chief Economic Adviser in the 1980s, Banking Secretary between 1985 and 1989 and Finance Secretary, Ministry of Finance between January 1991 and September 1992. In 1992-93 and then from 1998–2008, Jalan was the President of the Governing Body of thNational Council of Applied Economic Research Planning Commission in New Delhi. He was the Governor of Reserve Bank of India for two terms. The Government of India reappointed Jalan as Governor of the Reserve Bank of India, first for a period of five years commencing 22 Novembe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atal Bihari Vajpayee
Atal Bihari Vajpayee (; 25 December 1924 – 16 August 2018) was an Indian politician who served three terms as the 10th prime minister of India, first for a term of 13 days in 1996, then for a period of 13 months from 1998 to 1999, followed by a full term from 1999 to 2004. Vajpayee was one of the co-founders and a senior leader of the Bharatiya Janata Party (BJP). He was a member of the Rashtriya Swayamsevak Sangh, a Hindu nationalist volunteer organisation. He was the first Indian prime minister not of the Indian National Congress to serve a full term in office. He was also a renowned poet and a writer. He was a member of the Indian Parliament for over five decades, having been elected ten times to the Lok Sabha, the lower house, and twice to the Rajya Sabha, the upper house. He served as the Member of Parliament for Lucknow, retiring from active politics in 2009 due to health concerns. He was among the founding members of the Bharatiya Jana Sang ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of India
The prime minister of India (IAST: ) is the head of government of the Republic of India. Executive authority is vested in the prime minister and their chosen Council of Ministers, despite the president of India being the nominal head of the executive. The prime minister is often the leader of the party or the coalition with a majority in the lower house of the Parliament of India, the Lok Sabha, which is the main legislative body in the Republic of India. The prime minister and their cabinet are at all times responsible to the Lok Sabha. The prime minister is appointed by the president of India; however the prime minister has to enjoy the confidence of the majority of Lok Sabha members, who are directly elected every five years, lest the prime minister shall resign. The prime minister can be a member of the Lok Sabha or of the Rajya Sabha, the upper house of the parliament. The prime minister controls the selection and dismissal of members of the Union Council of Ministers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Express
''The Indian Express'' is an English-language Indian daily newspaper founded in 1932. It is published in Mumbai by the Indian Express Group. In 1999, eight years after the group's founder Ramnath Goenka's death in 1991, the group was split between the family members. The southern editions took the name ''The New Indian Express'', while the northern editions, based in Mumbai, retained the original ''Indian Express'' name with ''"The"'' prefixed to the title. History In 1932, the ''Indian Express'' was started by an Ayurvedic doctor, P. Varadarajulu Naidu, at Chennai, being published by his "Tamil Nadu" press. Soon under financial difficulties, he sold the newspaper to Swaminathan Sadanand, the founder of ''The Free Press Journal'', a national news agency. In 1933, the ''Indian Express'' opened its second office in Madurai, launching the Tamil edition, '' Dinamani''. Sadanand introduced several innovations and reduced the price of the newspaper. Faced with financial difficultie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
