Tag: Indirect Tax

  • GST (Goods and Services Tax) in India

    GST (Goods and Services Tax) in India

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    Himanshu
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    ✅ What is GST in India? GST (Goods and Services Tax) is a comprehensive indirect tax levied on the supply of goods and services. It replaces multiple taxes previously levied by the central and state governments, such as VAT, service tax, excise, etc. 📅 Implemented On: 1st July 2017🧾 GST is a destination-based tax –…

  • Understanding VAT on Fixed Assets

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    Himanshu
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    Value Added Tax (VAT) on fixed assets refers to the imposition of VAT on the purchase of capital assets that a business intends to use for its operations over an extended period. Fixed assets include tangible assets like land, buildings, machinery, equipment, vehicles, and intangible assets like patents and trademarks, which are essential for the…