Question
Which one of the following words is the most opposite
in meaning as the word ‘ compliance’ as used in the passage? : Read the following passage carefully and answer the questions given below them. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions. India’s net direct tax collections reportedly grew by 18.2% in April-December 2017 from a year ago, with advance tax payments in December adding substantially to the kitty. This is welcome. But the improvement will be sustainable only if the government makes productive use of the audit trails created by the goods and services tax — that allows manufacturers to claim credit for the taxes paid on inputs across the production and income chain — to generate a unified base of tax potential that can be tapped. A mine of information is already available, post the GST rollout. Tax authorities must diligently follow the audit trails, supplementing them with big-data analytics. The gross value added in an economy is equal to gross profits (including depreciation ) plus wages and salaries. This holds true at the enterprise level as well. Effectively, the tax base is taxed once with a comprehensive GST. The need is to track how much a company has paid and how much is the actual value addition that has been made. The data must be correlated with what the company claims as its expenses that include electricity bill and payouts to the Employees’ Provident Fund. This would enable tax authorities to check whether a company has declared its income correctly, and assess its tax liability. Data thrown up by GST should become the starting point now to tap the potential income-tax base. Doubling the current tax/GDP ratio of about 16.5% (combined states and the Centre) should be the goal. And the share of revenues from direct taxes, at a mere 5.6% of the GDP, must go up. GST would offer up a bounty in the medium term. Lower rates of tax, ease of compliance and tough action against evaders will, together, push up the cost of non-compliance higher than the cost of compliance, which would induce people to pay up.              ÂSolution
Compliance – obedience E .g –All work must be carried out in compliance with the safety regulations.
Which of the following is true about the concept of "mahr" in Muslim Personal Law?
Which of the following is considered retrenchment under the provisions of the Industrial Disputes Act, 1947?
What is the maximum amount of interim compensation that can be granted by the Court under Negotiable Instruments Act?
As per s.2(10) of the Sale of Goods Act, 1930 price includes:
__________ is a state in which a company’s liabilities are more than its assets so that is unable to repay its debts
As per the Administrative Tribunals Act, 1985 the Chairman shall hold office as such for a term of five years from the date on which he enters upon his ...
Whoever intentionally uses force to any person, without that person's consent, in order to cause injury, fear or annoyance to the person is said to cause
The Constitution provides for the establishment of Public Service Commission
                     I.       For the ...
As per section 4 of the Customs Tariff Act who has the power to make rules for determining if any article is the produce or manufacture of any preferent...
As per the Sale of Goods Act, 1930 document of title of goods is?
Relevant for Exams:
