PROJECT REPORT ON Macroeconomic impact of implementation of vat in Odisha PREPARED & SUBMITTED BY MR. SAGAR NAYAK U212049 ABSTRACT Value added tax (VAT) is a type of indirect tax that is imposed on goods and services. A question that arises is whether value added tax has been a boon or misery for a developing country like India. Around 136 countries in Asia have recognized the importance of value added tax. In one of the most large scale reforms of the country’s public finances in
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goods. * The standard and concessional rate of GST on goods for the first three years from the date of implementation of GST would be Services are however likely to be taxed @16% (8+8) under the GST regime. DIFFERENCE BETWEEN GST AND THE CURRENT INDIRECT TAX REGIME? * With the introduction of GST‚ the taxable event would shift to supply of goods and services. Thus‚ even branch transfers would be subject to GST. * Under GST‚ the cascading effect‚ that is‚ tax on tax‚ would be removed. The
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every transaction as the accounts audited for checking the validity of their claims. No I don’t agree with the trader who oppose VAT because VAT is the key to develop common domestic market through removal of trade barriers and simplification of indirect taxes and VAT
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LEARNING OBJECTIVES After studying this chapter‚ you will be able to 1 2 3 4 Apply the three-step writing process to negative messages Explain the differences between the direct and the indirect approaches to negative messages‚ including when it’s appropriate to use each one Identify the risks of using the indirect approach‚ and explain how to avoid such problems Adapt negative messages for internal and external audiences 5 6 7 Explain the importance of maintaining high standards of ethics and
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Science Mr. Shahid Ahmed‚ Implementation of VAT: Pakistan ’s Experience Pakistan Economic Survey 2011-2012‚ Highlights FBR (March 2012)‚ FBR Quarterly Review Muhammad Aamir (2011)‚ Determinants of Tax Revenue: A Comparative Study of Direct taxes and Indirect taxes of Pakistan and India 8|Page Exhibits Exhibit 1: Tax-GDP ratio Exhibit 2: Gini coefficient 9|Page Exhibit 3: Tax Revenue vs. Non-Tax Revenue Exhibit 4: 10 | P a g e Exhibit 5: 11 | P a g e
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surcharge increased from 5 percent to 10 percent. 7. The additional surcharges will be in force for only one year that is Financial Year 2013-14. 8. Rajiv Gandhi Equity Saving Scheme eligibility limit raised from Rs. 10 lacs to Rs. 12 lacs. Indirect Taxes: 1. No change in the peak rate of basic customs duty of 10 percent for non-agricultural products. No change in the normal rate of excise duty of 12 percent and the normal rate of service tax of 12 percent. 2. Reduction in duty on specified
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RESEARCH PROPOSAL BY GROUP 26 THE EFFECTS OF HIGH RATES OF TAXES ON INDIVIDUALS AND CORPORATE INSTITUTIONS‚ (A CASE STUDY OF THE ACCRA METROPOLIS) Background of the study Government revenue is one of the major criteria through which many governments and states finance their developmental and economic projects. In most case the revenue to the government comes through the tax revenue or through the taxation of indigenes personal incomes and income to corporate institutions. In Ghana‚ revenue to the
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MIS 535 PROJECT PROPOSAL STAGE: INITIATION AUTHOR DATE: September 19‚ 2012 TWOINONE SALE & USE TAX Table of Content Brief Overview of Company 3 Problem to Be Resolved 4 Proposed Enterprise Technology 4 Implementation / Timeline 6 Operations Management 7 Risks 8 Benefits 9 How to Measure Success 10 Bibliography 11 A.) Brief Overview of the Company or Enterprise Twoinone Stores‚ Inc. was founded in 2001 by CEO Billy
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IMPORTANT BANKING TERMS 1. Balance of Trade : The value of a country’s exports minus the value of its imports. Unless specified as the balance of merchandise trade‚ it normally incorporates trade in services‚ including earnings (interest‚ dividends‚ etc.) on financial assets. 2. Balance of Payments : A list of all of a country’s international transactions for a given time period‚ usually one year. Payments into the country (receipts) are entered as positive numbers‚ called credits; Payments
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Government of India “Democracy is the art and science of mobilizing the entire physical‚ economic and spiritual resources of various sections of the people in the service of the common good of all.” Mahatma Gandhi BUDGET 2009-10 July 6‚ 2009 1 http://indiabudget.nic.in Key Features of Budget 2009-2010 CHALLENGES ! ! ! to lead economy to high GDP growth rate of 9 per cent per annum at the earliest to deepen and broaden the agenda for inclusive development to improve delivery mechanisms
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