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In India, the Goods and Services Tax (GST) is based on the dual model GST adopted in Canada. The dual model GST involves two components: the Central Goods and Services Tax (CGST) and the State Goods and Services Tax (SGST). Under this system, both the central government and state governments have the authority to levy and collect GST on the supply of goods and services within their respective jurisdictions. This structure ensures that the tax revenue is shared between the central and state governments and helps maintain fiscal autonomy for each state while streamlining the taxation process across the country. The implementation of the dual model GST in India took place on July 1, 2017, replacing the previous complex and fragmented tax system with a unified and simplified tax regime.
Which of the following entities did not qualify for the Reserve Bank of India's 5th cohort of the Regulatory Sandbox testing phase with the theme 'Neutr...
Which scheme aims to improve basic infrastructure and services in 500 cities across India?
Who are the main recipients of the housing scheme introduced in the Interim Budget of 2024?
How did the 2024 Cannes Film Festival mark a notable moment for Indian cinema?
Which scheme facilitated 48.92 crore loans amounting to ₹29.93 lakh crore to boost micro/small businesses?
What is the primary purpose of the 'eSakshya' app launched by Amit Shah?
Recently, the Indian Navy has set up its first independent headquarters named ‘Nausena Bhawan’ at which place?
How many crore new jobs were added in India in 2023-24 according to RBI's KLEMS data?
What is the main focus of the Digital General Crop Estimation Survey (DGCES) discussed in the national conference?
The ancient Greeks knew as early _________ 600 B.C. that when resin was rubbed with fur, it attracted light objects such as hair.