All Types of Taxation Notes 666

                         GST INTRODUCTION AND CONSTITUTION WHY TAX: -  Government need fund to fulfill Increasing Development needs of country or to fulfill  Socio.  Economic Objectives of the country that's Why Government Impose tax. WHAT IS  TAX: - Tax is a Compulsory Extortions of Money made under an Act. TYOE OF  TAX: - It can be classified into two parts as DIRECT TAX & INDIRECT TAX. Where burden  of tax borne by the person on whom it is levied then the tax will be DIRECT TAX and  where burden of tax shifted to another person i.e. ultimate consumer then it will be  called as INDIRECT TAX. FEATURES OF INDIRECT  TAX: -                             I.           It is an IMPORTANT SOURCE of Revenue to the GOVERNMENT    ...

                                          GST INTRODUCTION AND CONSTITUTION                                                        WHAT IS GST;-                              - GST is a TAX imposed on GOODS and /or SERVICES .                            - There must be a Supply of GOODS/SERVICES.                            - Supply Can be of TWO TYPES AS FOLLOWS-- 1. INTER STATE SUPPLY:-                                           ...