After the implementation of GST it is clear to us that it is a single tax system throughout the country, replace all type of indirect taxes of states, union territories and central. In GST system there are four types of collecting tax is introduced that is SGST-tax collected by states, CGST-tax collected by central ,UGST-tax collected by union territories and IGST-collected by central government for interstate sale. That is GST eliminates the cascading of taxes that is ‘tax on tax’ system. Now the main confusion arises when the term input tax credit comes. It is closely linked with the estimation of GST system. Now, what is input tax credit? It is the credit that an individual received for the tax on the inputs used in manufacturing the product .i.e if 10% tax he paid to buy an inputs then next step when the finished product he sale, he must be subt...
Current Economic related issues which is mainly based on theoretical approaches with the related present issues of the country .Helpful to know the inner economics of the decisions which has taken by the government for development.