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1. Levy of GST : The centre will levy Central GST (CGST) and the states will levy State GST (SGST) on the supply of goods and services within a state. The centre will levy IGST in the case of (i) inter-state supply of goods and services, (ii) imports and exports, and (iii) supplies to and from special economic zones.

2. Exemptions from GST: The centre exempt certain goods and services from the purview of GST through a notification. This will be based on recommendations of the GST Council.

3. Turnover limit under GST and tax right over low turnover entities: GST is applied when turnover of the business exceeds Rs 20lakhs per year (Limit is Rs 10lakhs for the North-Eastern States). Traders who would like to get input tax credit should make a voluntary registration even if their sales are below Rs 20 lakh per year. Traders supplying goods to other states have to register under GST, even if their sales is less than Rs 20 lakh. There is a composition scheme for selected group of tax payers whose turnover is up to Rs 75 lakhs a year.

4. The four-tier rate structure: The GST proposes a four-tier rate structure. The tax slabs are fixed at 5%, 12%, 18% and 28% besides the 0% tax on essentials. Gold is taxed at 3%. The center has strictly demanded and got an additional cess on demerit luxury goods that comes under the high 28% tax. Essential commodities like food items are exempted from taxes under GST.

Other consumer goods which are common items will be taxed at 5%.4. The new GST seems to have two standard rates – 12% and 18%. GST rate structure for the goods and services are fixed by considering different factors including luxury/necessity nature.

5. Tax revenue appropriation between the center and states: The center and states will share GST tax revenues at 50:50 ratio (except the IGST). This means that if a service is taxed at 18%, 9% will go to the center and 9% will go to the concerned state.

6. Input tax credit: Every taxpayer while paying taxes on outputs may take credit for taxes paid earlier by the supplier on inputs. However, this will not be applicable on supplies related to: (i) motor vehicles when used for personal consumption, (ii) supply of food, health services, etc. unless they are further used to make a supply.

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identify the source of finance which is regarded as a fair weather friend what is the reason for calling it so state its two features. ??

Posted by Harsh Panchal 5 years, 9 months ago

CBSE > Class 11 > Business Studies

2 answers

Harsh Panchal 5 years, 9 months ago

Reasons ?

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Dolly ?️ 5 years, 9 months ago

Public deposit.

1Thank You

ANSWER

What is corporate social responsibility(CSR)?

Posted by Dolly ?️ 5 years, 9 months ago

CBSE > Class 11 > Business Studies

2 answers

Yogita Ingle 5 years, 9 months ago

Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders.

CSR is a concept with many definitions and practices. The way it is understood and implemented differs greatly for each company and country. Moreover, CSR is a very broad concept that addresses many and various topics such as human rights, corporate governance, health and safety, environmental effects, working conditions and contribution to economic development. Whatever the definition is, the purpose of CSR is to drive change towards sustainability.

3Thank You

Harsh Panchal 5 years, 9 months ago

It is a type of international private business self regulation. ??

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ANSWER

Define indent ?

Posted by Kunika K. 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Vishal Biyani 5 years, 9 months ago

Importer places order to exporter this order is known as indent

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ANSWER

a famous doctor changes highly from his patient and refuses to treat poor patients without money he take give and commission from medical representatives and centres also in your views is it professional behaviour of a doctor write two values which are being violated by the doctor

Posted by Rushali Ranglani 5 years, 9 months ago

CBSE > Class 11 > Business Studies

0 answers

ANSWER

Explain article of association

Posted by Ranveer Kumar 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Harsh Panchal 5 years, 9 months ago

the article of association are tattoos for the internal management of base affairs of a company the article defines the duties rights and powers of the officers and the boards of directors. ??

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ANSWER

What do you understand by Maritime trade?

Posted by Dolly ?️ 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Saurav Ranjan 5 years, 9 months ago

The trading done through the sea ir ocean route..is known as maritime trade.

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Name the partner who allws tge use of his name by a firm but does not contribute to its capital

Posted by Gourav Pandat 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Harsh Panchal 5 years, 9 months ago

Nominal partner .??

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Which type of organisation has disadvantage namely no benefits to poor people

Posted by Manprt Sidhu 5 years, 9 months ago

CBSE > Class 11 > Business Studies

2 answers

Clash Clans 3 years, 11 months ago

MNCS

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Harsh Panchal 5 years, 9 months ago

Multinational companies or global enterprises .??

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ANSWER

Meaning of method

Posted by Aarti Singh 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Harsh Panchal 5 years, 9 months ago

Way of doing work is known as method . ??

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ANSWER

What is indigenous bankers

Posted by Alokik Mangla 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Dolly ?️ 5 years, 9 months ago

Those banker who are worker of Ancient bank in india

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ANSWER

Describe the industrial policy 1991 towards the public sector

Posted by Pratibha Vaishnav 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Harsh Panchal 5 years, 9 months ago

reduction in number of business reserved for public sector from 17 to 8 and 23 only in 2001 these three industries are autos atomic energy and rail transport random of understanding undertaker list actor was provided with greater autonomy government lays down performance target for the management and his greatest autonomy 20 minutes to go the management accountable for the result. disinvestment equity share of some public sector enterprises versova to private sector and republics it was expected that this would lead to improve management performance impact of financial discipline. which structural and revival public sector 6 units was referred to both of industrial and financial reconstruction that is v i s i unit which were potentially bye-bye one list of states and which could not be reviewed was closed down by the board

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Explain internal trade and external trade in brief and also mention their difference between them

Posted by Rahul Singh Bisht 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Saurav Ranjan 5 years, 9 months ago

Trading done within the geographical boundry of the nation is known internal trade and vice versa

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ANSWER

Explain the transaction risk involved in online banking

Posted by Anmol Gupta 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Aryan Yadav 5 years, 9 months ago

The common transactional risks of online are: (a). Default on order taking/giving:seller may deny that customer ever placed the order. (b). Default on delivery:sometimes goods may be delivered at wrong address or goods other than order may also be delivered. (c).Default on payment:sometimes the seller does not get the payment for the goods supplied whereas tge customer claims that the payment was made.

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ANSWER

Explain the main element of life insurance nd identify the value in the concept of insurance

Posted by Anmol Gupta 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Rajat Sharma 5 years, 9 months ago

Security and investment elements

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ANSWER

Merits of departmental store

Posted by Anjali Solanki 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Aryan Yadav 5 years, 9 months ago

Merits of departmental stores 1.Convenient shopping 2.Central location 3.Economies of scale 4.Elimination of middleman 5.Professional management 6.Services 7.Advertising

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ANSWER

Diffirence between fire insurance and marine insurance on the basis of: 1. Indemnity 2. Insurable interest 3. Duration 4. Loss measurement

Posted by Yaser Siddiquee 5 years, 9 months ago

CBSE > Class 11 > Business Studies

0 answers

ANSWER

What is human activity

Posted by Nabeel Khan 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Rajat Sharma 5 years, 9 months ago

Any activity performed by humans to meet their requirements

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ANSWER

What is cryptography?

Posted by Gunit Ahuja 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Rajat Sharma 5 years, 9 months ago

Hey! How u added diagram?

0Thank You

ANSWER

What do you mean by liquidation of a company ❓❓❓

Posted by Sakshi Sharma??️??️ 5 years, 9 months ago

CBSE > Class 11 > Business Studies

3 answers

Sakshi Sharma??️??️ 5 years, 9 months ago

Thanks Jyoti

2Thank You

Harsh Panchal 5 years, 9 months ago

Liquidation is a state where the all current assets or noncurrent assets starts converted into cash ??

0Thank You

Harsh Panchal 5 years, 9 months ago

Liquidation means the time of closing the company .??

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ANSWER

Rajni, a house wife exchanges utensils for old clothes on a regular basis. Is it a business and why?

Posted by Dolly ?️ 5 years, 9 months ago

CBSE > Class 11 > Business Studies

3 answers

Akshit Jain 5 years, 9 months ago

No Chetan keshri it is not a business activity

0Thank You

Rajat Sharma 5 years, 9 months ago

No this cannot be termed as business because business is economic activity conducted for the profit motive Rajani is not having any motive to earn profit through exchange production or distribution of goods and services she is only working for the household chores so it cannot be termed as business

0Thank You

Chetan Keshri 5 years, 9 months ago

Yes it is a business activity because she is doing that on regular basis

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ANSWER

A lawyer is working in knowledge process outsourcing (kpo) organisation. What type of economic activity is he performing?

Posted by Dolly ?️ 5 years, 9 months ago

CBSE > Class 11 > Business Studies

3 answers

Harsh Panchal 5 years, 9 months ago

Yes I think it would be the answer .???

0Thank You

Chetan Keshri 5 years, 9 months ago

He is a employee as he is working under a company as outsider agency

1Thank You

Harsh Panchal 5 years, 9 months ago

Profession .??

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ANSWER

Why is the insurance known as a tertiary industry?

Posted by Dolly ?️ 5 years, 9 months ago

CBSE > Class 11 > Business Studies

2 answers

Chetan Keshri 5 years, 9 months ago

Because tertiary industry provides many services towards businessman I. E.- Banking ,insurance ,advertisement, transportation, warehousing

0Thank You

Ansh Garg 5 years, 9 months ago

Because it is a service and tertiary industry deals in services

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ANSWER

Diff. Between internal trade and external trade

Posted by Naresh Choudhary 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Yaser Siddiquee 5 years, 9 months ago

There are a lot of difference between internal trade and external trade 1.means Internal trade refers to the trade within the borders of the country. External Trade refers to the trade between two or more countries. 2.Exchange of Currencies There is no exchange of currencies takes place in the Internal Trade because there is a same currency in the country External Trade involves the exchange of currencies between the nations which are involved in the trade.

0Thank You

ANSWER

What is the common thing in ADR and the public deposit

Posted by Raja Shukla 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Rajat Sharma 5 years, 9 months ago

Both are collected from public

1Thank You

ANSWER

How is business ethics different from law?

Posted by Jeetendra Nayak 5 years, 9 months ago

CBSE > Class 11 > Business Studies

1 answers

Harsh Panchal 5 years, 9 months ago

Business Ethics refer to the moral values for standard on on which governs the activity of a businessman define what is right and what is wrong by Edwin in the business practices which are desirable from the point of view of society .??

1Thank You

ANSWER

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