Question
Which of the following is true about sales tax and
VAT?Solution
Sales tax was under the state list before the introduction of Value Added Tax (VAT). With the implementation of VAT, it falls under the concurrent list, which means both the central and state governments have the authority to levy and administer it. On the other hand, the sales tax continues to be levied and administered solely by the state governments.
The cost incurred for an additional product is known as ________
What is the standard TDS rate applicable to interest on securities as per Section 193 of the Income Tax Act, 1961?
What is the maximum cost of the project/unit allowed under PMEGP for 2nd loan in the manufacturing sector (for upgradation)?
What is the main focus of Railtel Corporation of India?
A security is a freely marketable and the investor has an intention to hold it for dividend income purposes for a period of 15 months only. Under whi...
Valuing inventory at cost or net realizable value is based on which principle?
What is the due date for filing GSTR-9, the annual return, as per GST law?
What is the minimum quorum required for a general meeting of a public company having 10,000 members?
Calculate Cash ratio of the company?
Which of the following commodities are kept outside the scope of GST?
(i) Fresh milk and pasteurised milk
(ii) Soyabeans seeds
(iii...