Looking at the scale of India, it is reasonable to expect 3-5 years for the system to stabilize
Any day you walk out of a restaurant, a scrutiny of the bill would reveal small entries below the food and beverage charges. These include Service Charges, Service Tax and VAT. This is about those small entries.
Taxes are categorized as direct and indirect. Direct tax is the income tax that a Person (literal & corporate) pays the government directly. In contrast, Indirect Taxes are collected from the citizens, in an indirect manner. For instance, a soap manufacturing company pays excise duty (manufacturing tax). It gets added to the cost of the soap. When the manufacturer sells to consumers, sales tax gets added. The consumer pays these taxes excise duty (goods), and sales tax (services)indirectly. The indirect taxes levied in India include Excise (manufacture), Service tax (services), Central Sales Tax (inter -state sales), VAT (intra-state) Customs duty (import), Countervailing Duty (CVD equivalent to Excise on imports), Special Additional Duty (SAD equivalent to sales tax on imports). In addition, the States in India have their additional points of taxation like State Excise Duty, Octroi etc.
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In Search of Higher Returns Amid Falling Rates
As Bank Deposit Rates Fall, Even Conservative Investors Are Switching Assets. Where Can They Go?
National Savings Certificates Help as Interest Rates Fall
National Savings Certificates (NSCs) have been among the most popular tax-saving options for ages. In spite of the advent of market-linked investment products such as equity-linked savings schemes (ELSS), the certificates have retained their charm for certain sections of society. In this column, let us discuss the various facets of this special instrument of investment.
What Drives Us to Invest?
I had made the journey from economics to finance. As part of Keynesian economics, we were taught about the three motives to hold money: the transactions motive, the precautionary motive and the speculative motive; all through my teaching career that remained part of my Keynesian economics. But two decades, later when I immersed myself into the world of investment, I had to develop my own tools to understand the new discipline and make my investors understand the working of their own minds. One night as lay turning on my back, poring over the day’s happenings, suddenly I made a strong connection between what I had studied years back and the problem I was grappling with now: the motives.
Ask The Finapolis
Col. Sanjeev Govila (retd) of Hum Fauji Investments answers readers’ queries on investments, taxation and personal finance. Do you have a question you want answered? Email your question to feedback@thefinapolis.com
Input Tax Credit To Benefit End-customer
Looking at the scale of India, it is reasonable to expect 3-5 years for the system to stabilize
Will GST Really Spike Up Your Bills?
As goods and service providers can claim input tax credit, your net tax bill will reduce say experts
The Bull Run Is Here To Stay
Karvy Finapolis’ event —“Is this the mother of all bull runs?” — evoked a thunderous response from investing public recently in Hyderabad.
Adhil Shetty's Column
Time to close that FD; here are better options
The 17 Mistakes To Avoid While Investing In 2017
Keep these points in mind to rake in the moolah from the markets this year.
FM Needs To Find His Focus
The finance minister needs to reboot an economy stalled by demonetisation when he delivers the combined Union and Railway Budget.
GM's Exit From India Hits a Roadblock
The long-delayed sale of its plants to a Chinese company faces local labor and political opposition
Self- acceptance
ELIZABETH DENLEY has been a student of both science and spirituality all her life. Trained as a scientist, she turned her field of inquiry and research skills to the field of meditation and spirituality after starting the Heartfulness practices in the late 80s. Here she shares some thoughts on the importance of selfacceptance.
The New Storytelling:We Are All Indigenous Global Citizens
WAKANYI HOFFMAN is a Global Education Specialist and founder of the African Folktales Project. In Part 2 of her interview with SARA BUBBER, Wakanyi shares the value of storytelling, passing down wisdom through generations, her Kikuyu culture, and how we are all indigenous global citizens.
The Vaccine's Last Mile Problem
India is racing to vaccinate its villages, including many in remote and desperately poor areas where suspicion of the government’s motives runs deep
India's Fintech Boom
A government-backed system of digital payments has set offa wave of innovation
THE GAME CHANGER
INSIDE DHD’S RECORD-SETTING DURAMAX
Building Community Through Education
KIRAN BIR SETHI is changing the experience of childhood in Indian cities through her education curriculum and initiatives to build healthy relationships between students and their communities. Here she is interviewed by KASHISH KALWANI.
Granny Chic Galore!
A homeowner’s holiday décor is an homage to Christmas at her grandma’s house.
INDIANA NOTIFYING 750K AFTER COVID-19 TRACING DATA ACCESSED
Indiana health officials said they are notifying nearly 750,000 state residents that a cybersecurity company “improperly accessed” their personal data from the state’s online COVID-19 contact tracing survey — a description the company disputed as a “falsehood.”
What is My Stereo's Gender?
Readers will recall, distressingly, that I have tried their patience on just about every topic that marginally relates to audio. LP grooves, CD bumps, flat response, boomy bass, warm recordings, cold binary bits—I have waxed philosophically on all of them. Which bring us to today’s audio topic: gender.