Question
Which country was the first to implement Goods and
Services Tax (GST)?Solution
The tax came into effect from 1 July 2017 through the implementation of theĀ One Hundred and First Amendment of the Constitution of IndiaĀ by theĀ Indian government. The GST replaced existing multiple taxes levied by theĀ centralĀ andĀ stateĀ governments . Goods and services are divided into five different tax slabs for collection of tax: 0%, 5%, 12%, 18% and 28%.
ICDS IV primarily deals with which aspect of financial reporting
CBDT full form:
A company has the following inventory data for a product:
ā¢ Opening Stock: 500 units @ ā¹50
ā¢ Purchases: 1,000 units @ ā¹55
ļæ½...
Ā Calculate EOQ from the data given below and select the correct answer from the options given below:
As per Section 127 of the Companies Act, 2013, in relation to punishment for failure to distribute dividends, where a dividend has been declared by a co...
What type of banking transaction allows customers to earn interest on their deposited funds and provides easy access to their money for daily expenses?
The liability of a sole proprietor is:
Aqua Ltd. just declared the earnings of Rs. 23 per share. The company is involved in the manufacture of cars. The average PE of electronics industry is ...
As per Schedule III of the Companies Act, 2013, long term provisions are shown ā
A Ltd owns land and building which are carried in its balance sheet at an aggregate carrying amount of 10 million. The fair value of such asset is 15 mi...
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