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Introducing GST

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Q 1. What is Goods and Service Tax (GST)? Ans. It is a destination based tax on consumption of goods  and services. It is proposed to be levied at all stages right  from manufacture up to final consumption with credit  of taxes paid at previous stages available as setoff. In a  nutshell, only value addition will be taxed and burden of  tax is to be borne by the final consumer. Q 2. What exactly is the concept of destination based  tax on consumption? Ans. The tax would accrue to the taxing authority which  has jurisdiction over the place of consumption which is  also termed as place of supply. Q 3. Which of the existing taxes are proposed to be  subsumed under GST? Ans. The GST would replace the following taxes: (i) taxes currently levied and collected by the Centre: a. Central Excise duty b. Duties of Excise (Medicinal and Toilet  Preparations) c. Additional Duties of Excise (Goods of Special  Importance) d. Additional Duties of Excise (Textiles and

Moo Moo and Momo and the story of Ban

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Once upon a time, there lived a lovely little girl whose name was Moo Moo. She was sweet, kind, gentle and intelligent. She was loved by all. [pic courtesy: shutterstock] Moo Moo had a little brother. His name was Momo. He was also very sweet, lovely, kind, gentle and delicious, intelligent. He was adored by all.  [pic courtesy: gettyimages] Moo Moo and Momo were lovely siblings. They used to go to school together. In their school also, they were favourites of their teachers. However, there was a senior in their school who bullied the siblings. He never missed a chance to create trouble for them. Name of the bully was Ban. [pic courtesy: 123rf.com] Ban followed Moo Moo and Momo everywhere and always teased them. One day, Moo Moo was going to the tuition with her friends. Suddenly, Ban came there and started making fun of her. He also started passing comments on her. At first, Moo Moo avoided but after some time she got irritated. She and he

Dead Men would tell...

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For the first time in my life, I am disowning my loyalty towards one of my favourite actors.  Sigh! Today, I hereby, decide, not to fight for him and bluntly prove the significance of his finest shot timings. Dear Johnny Depp, I am ready to embrace the world going upside down as I utter the words that YOU HAVE DISAPPOINTED ME...! Oh! I can even feel the lump in my throat... How much it hurts! I am teary...! Before, his fans argue over for my digital assassination, I make a clear declaration that I have been a religious follower of the POTC series and honestly, I have lost the count that how many times I watched all the earlier four movies. Frankly, I loved him in The Tourist, Sleepy Hollow and for God's sake Transcendence also.  But "Salazar's Revenge" was different. I didn't find the famous "Johnny Depp as Jack Sparrow" in it. I don't believe it was Depp's movie. It certainly wasn't. I can like the movie for the splendid performan