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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.
How much funding has the Government of Rajasthan allocated in June 2024 for the development of the Maharana Pratap Tourist Circuit?
Consider the following statements:
1. Capital Adequacy Ratio (CAR) is the amount that banks have to maintain in the form of their own funds to ...
How many schools across the country will be developed under the PM SHRI Schools scheme?
Who had developed the BharOS Software?
Which state in India has introduced the 'Nijut Moina' scheme to prevent child marriages by providing monthly stipends to girls pursuing higher education?
Which team did Ambati Rayudu play for in the Indian Premier League (IPL) and announced his retirement from the tournament after the 2023 edition?
Indian Oil Corp (IOC) Partnered with LanzaJet, a leading sustainable fuels technology company, to establish an aviation fuel plant in which state?
The Parliament of India exercises control over the functions of the Council of Ministers through which of the following:
I) Adjournment motion
Who provided a description of the utilization of handmade paper in the mountainous regions of Garhwal and Kumaon?
Which place is said to be Manchester of South India?