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As per the CRISIL’s report(October 2015), the insurance industry of India consists of around 52 insurance companies of which 24 are life insurance and 24 are engaged in non-life insurance companies. India’s Life insurance sector recorded a new premium income of Rs. 1.38 trillion for the period April 2015 to March 2016 indicating a growth rate of 22.5 percent.
The nation has seen the clearing of GST Bill with much more anticipation and the government was also seen in all support with this new tax regime. After all, the GST has something very special to provide for the citizen of India. The said bill is said to subsume all the current indirect tax prevailing in the country.
In present scenario there are different types of taxes levied like service tax, VAT, Excise etc. In GST regime there will be a single rate of tax. The tax will be charged on value addition only. This will lead to lower down the cost of products and services. After the introduction of GST law, the customer will be able to know that what is the actual tax he is paying for the product or services.
Big!! Big!!! Big!! the wait is over!! Now GST Act is not a dream for the companies. It will be implemented very soon. After passing bill in Rajya Sabha, the way of GST act became more easy and we can hope that this act will come in working very soon.
As seen from very long, the GST Debate is going well with enormous talks going again and again in parliament, Lok Sabha, Rajya Sabha and where is needed to reform the taxation scheme currently prevailing in India. Till today, Indian business units are running with basic indirect tax scheme which includes various steps and channel gates by which a tax payer has to undergo.
For a wide variety of purposes, Indians use the Permanent Account Number (PAN) card, which holds substantial importance in every sector. Apart from its major use for filling the tax forms, it is considered an identification document for different grounds. An ample number of people are applying for it because of its rapid prominence over […]
Recently, the Indian Prime Minister Narendra Modi said about the opposition party that we hope the Congress should be to not disrupt the Parliament in this year. In return, the Congress took a dig at the NDA saying our party did not disrupt Parliament and the BJP’s “stubborn attitude” was behind the deadlock over the GST Bill.
