taxation in india

Taxation System In India India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies. Central Government levies taxes on income (except tax on agricultural income, which the State Governments can levy), customs duties...

Components For VAT. The relevant components are: • Sale price or purchase price. • Turnover of sale or purchase, including taxable turnover. • Output tax or tax on sales. • Purchase tax input tax or tax paid on...