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1. INT INTRODU RODUCT CTIO ION N Government has to play an important role in all round development of society in the modern era. It has not only to perform its traditional functions (defence maintenance of la! and order" #ut also to underta$e !elfare and development activities such as health education sanitation rural development !ater supply etc. It has also to pay for its o!n administration. %ll these functions re&uir re&uiree hu'e pu#lic pu#lic financ finance. e. Taes aes constit constitute ute the main main source source of pu#lic pu#lic finance finance !here#y !here#y 'overnment raises revenue for pu#lic spendin'. spend in'. % ta may #e defined as a )pecuniary #urden laid upon individuals or property o!ners to support the 'overnment a payment eacted #y le'islative authority authority.. % ta )is not a voluntary voluntary payment or donation donation #ut an enforced enforced contri#ution contri#ution eacted pursuant to le'islative authority). India has a !ell developed taation structure. The ta system in India is mainly a three tier system system !hich !hich is #ased #ased #et!een #et!een the Centra Central l *tate *tate Governm Government entss and the local local 'overnm 'overnment ent or'ani+ations. In most cases these local #odies include the local councils and the municipalities. The authority to levy a ta is derived from the Constitution of India !hich India !hich allocates the po!er to levy various taes #et!een the Centre and the *tate. %n important restriction on this po!er is %rticle ,- of the Constitution !hich states that "No tax shall be levied or collected except by the the author authorit ityy of law" law" . Ther Theref efor ore e each each ta ta levi levied ed or coll collec ecte ted d has has to #e #ac$ #ac$ed ed #y an accompanyin' la! passed either #y the /arliament /arliament or or the *tate 0e'islature. 0e'islature. urther %rticle %rticle ,2- (*343NT5 *C53DU03" of the Constitution distri#utes le'islative po!ers includin' taation #et!een the /arliament and the *tate 0e'islature. *chedule 4II enumerates these su#6ect matters !ith the use of three lists7 8 0ist 9 I entailin' the areas on !hich only the parliament is competent to ma$es la!s 8 0ist 9 II entailin' the areas on !hich only the state le'islature can ma$e la!s and 8 0ist 9 III listin' the areas on !hich #oth the /arliament and the *tate 0e'islature can ma$e la!s upon concurrently. *eparate heads of taation are provided under lists I and II of *eventh *chedule of Indian Constitution. There is no head of taation in the Concurrent 0ist (Union and the *tates have no concurrent po!er of taation". %ny ta levied #y the 'overn ment !hich is not #ac$ed #y # y la! or is #eyond the po!ers of the le'islatin' le' islatin' authority may #e struc$ do!n as unconstitutional. The thirteen heads 0ist9I of *eventh *chedule of Constitution of India covered under Union taation on !hich /arliament enacts the taation la! are as under: • • •
Taes Taes on income other than a'ricultural income7 Duties of customs includin' eport duties7 Duties of ecise on to#acco and other 'oods manufactured or produced in India ecept (i" alcoholic li&uor for human consumption and (ii" opium Indian hemp and other narcotic
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dru's and narcotics #ut includin' medicinal and toilet preparations containin' alcohol or any su#stance included in (ii"7 Corporation Ta7 Taes Taes on capital value of assets eclusive of a'ricultural land of individuals and companies taes on capital of companies7 3state duty in respect of property other than a'ricultural land7 Duties in respect of succession to property other than a'ricultural land7 Terminal Terminal taes on 'oods 'o ods or passen'ers carried #y rail!ay sea or air7 taes on rail!ay fares and frei'ht7 Taes Taes other than stamp duties on transactions in stoc$ echan'es and futures mar$ets7 Taes Taes on the sale or purchase of ne!spapers and on advertisements pu#lished therein7 Taes Taes on sale or purchase of 'oods other than ne!spapers !here such sale or purchase ta$es place in the course of inter9*tate trade or commerce7 Taes Taes on the consi'nment of 'oods ' oods in the course of inter9*tate trade or commerce. %ll residuary types of taes not listed in any of the three lists of *eventh *chedule of of Indian Constitution.
Taes have #een #roadly cate'ori+ed into direct and indirect taes. )Direct taes) include those taes !hich are paid #y the person on !hom these are levied li$e income ta !ealth ta etc. On the other hand )indirect taes) are levied on one person #ut paid #y another e.'. sales ta ecise duty custom duty etc. The indirect ta in India constitutes a 'roup of ta la!s and re'ulations. The indirect taes in India India are enforce enforced d upon upon diffe different rent activi activitie tiess includi includin' n' manufa manufactu cturin rin' ' tradin tradin' ' and import imports. s. Indi Indire rect ct taes taes infl influe uence nce all all the the #usi #usine ness ss line liness in Indi India. a. Char Char'e 'e levi levied ed #y the the *tat *tatee on consumption ependiture privile'e or ri'ht #ut not on income or property. The indirect ta system in India has under'one etensive reforms for more than t!o decades. One of the most important reasons for recent ta reforms in many developin' and transitional economies has #een to evolve a ta system to meet the re&uirements of international competition. In 'eneral the Indirect Ta in India is a comple system of interconnectin' la!s and re'ulations !hich includes specific la!s of different states. or this there are many relia#le or'ani+ations in India India !hich !hich employs employs effici efficient ent Indir Indirect ect Ta Ta profes professi sional onalss to help help their their client clients. s. These These ta professionals !ith their in9depth $no!led'e and !ide9ran'in' eperience offers effective plannin' methods to their clients in order to help in their cost minimi+ation. The Indirect Taation re'ime encompasses various types of taes li$e *ales Ta *ervice Ta Custom and 3cise Duties 4%T 4%T and %nti9Dumpin' %nti9Dumpin' Duties and the or'ani+ations provide services in all these related fields. In the recent years the Indian 'overnment has underta$en si'nificant reform of indirect taation system. This includes the initiation of a re'ion9#ased and state9level 4%T on 'oods. 5o!ever it should #e noted that as taes still forms a #arrier to inter9state tradin' in order to o#tain a secured
mar$et for the activities related to services and 'oods more reform is needed. *ome of the reforms that can #e introduced for a #etter indirect taation system in India are ; •
The seriali+ed set of Indirect Taes so far activated at the central and state levels should
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#e amal'amated and treated as a sin'le ta. The The inte inte'r 'rat ated ed Indi Indire rect ct Ta shou should ld #e neutr neutral al at all all leve levels ls such such that that chanc chances es of
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fraudulence !ould #e minimi+ed. The Central *ales Ta !hich o#structs easy tradin' #et!een different states is #ein' under the process of termination that !ould help to a#olish the control measures on the inter9state trade.