what is service tax discuss the basics of service tax in india
Service Tax It was increased to 14% for transactions that happened on or after 1 June 2015 and then for transactions that occurred on or after 15 Nov 2015, the new Swachh Bharat Cess at 0.5% was also added to the Service Tax. Therefore, the effective rate became 14.5% with effect from 15 Nov 2015.[citation needed]
Fundamental rights in India The seven fundamental rights recognised by the Indian constitution are:
Parliament of India The period during which the House meets to conduct its business is called a session. The Constitution empowers the president to summon each House at such intervals that there should not be more than a six-month gap between the two sessions. Hence the Parliament must meet at least twice a year. In India, the parliament conducts three sessions each year:[15]
Economics Theory and observation set out the conditions such that market prices of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively) low-cost inputs go to producing low-cost outputs. In the process, aggregate output may increase as a by-product or by design.[37] Such specialization of production creates opportunities for gains from trade whereby resource owners benefit from trade in the sale of one type of output for other, more highly valued goods. A measure of gains from trade is the increased income levels that trade may facilitate.[38]