Contrary to expectations, the Budget 2018 failed to do much for taxpayers as well as the salaried class. However, some sections of society, particularly senior citizens, gained much from its proposals. Whatever be the case, as a taxpayer we need to be aware of the tax proposals of this year's Union Budget as they are going to impact our earnings as well as the day-to-day lives from the upcoming financial year (2018-2019). Here we are taking a look at 10 such tax rules which will change from April 1, 2018:
1. Health and Education Cess
The Budget 2018 didn't make any changes in the tax rates or tax slabs for individuals and HUFs, which continue to remain the same for Assessment Year 2019-20 as applicable for AY2018-19. However, it has proposed a new cess – Health and Education Cess – which will be levied at the rate of 4% of income tax, including surcharge, in place of the current 3% Education, Secondary and Higher Education Cess from Financial Year 2018-19 onwards.
2. Reintroduction of standard deduction
At present no standard deduction is available for salaried employees. However, exemption in respect of transport allowance and reimbursement of medical expenses is provided. The Budget 2018 has proposed a standard deduction of a maximum of Rs 40,000. However, the current exemption in respect of transport allowance and reimbursement of medical expenses will be withdrawn. The net benefit will only be Rs 5,800.
3. Deduction in respect of interest earned by senior citizen
Currently, a deduction up to Rs 10,000 is allowed to all individuals in respect of interest income from deposit accounts (not being time deposits) held with any bank, co-operative society and post office.
It is proposed to allow a deduction up to Rs 50,000 in respect of interest income from deposits held with banks, co-operative society and post office by senior citizens. No separate deduction will be available under section 80TTA for interest income from savings account for senior citizens.
4. Medical treatment of senior citizens for specified diseases (Sec 80DDB)
Under the existing provisions, deduction is available to resident individuals and Hindu Undivided Family (HUF) for any amount incurred for the medical treatment of specified diseases (i.e. malignant cancers, AIDS, etc). The deduction is limited to Rs 60,000 for expenses relating to senior citizens and Rs 80,000 with respect to very senior citizens. The Budget has proposed to enhance the above deduction limit to Rs 100,000 uniformly for both categories.
5. Enhanced deduction for health insurance, medical expenditure related to senior citizens (Section 80D)
Under the existing provisions, a maximum deduction of Rs 30,000 is allowed to an individual or HUF for payment towards health insurance premium including Rs 5,000 towards preventive health check-up for resident senior citizens. Alternatively, very senior citizens can claim a deduction of Rs 30,000 for payment towards medical expenses where there is no insurance. The Budget 2018 has proposed a maximum deduction of up to Rs 50,000. Besides senior citizens can also claim the deduction for medical expenditure.
6. Compensation on termination or modification of employment
Currently, certain compensation in connection with employment is out of the purview of taxation, leading to base erosion and revenue loss.
"It is proposed that any compensation or other payments due to or received by any person in connection with the termination or the modification of the terms and conditions of any contract relating to his employment shall be taxable under the head income from other sources," according to a Deloitte report.
Monday, 26 February 2018
Income tax Updates 2018
Wednesday, 15 November 2017
Money And Banking question Paper
FACULTY OF COMMERCE
B.A/B.com/B.Sc 2nd Year(3YDC) First Spell Examination, May 2009
Subject code No& Name:10 COMMERCE GROUP - C
Course Code No& Name: 02 – Money & Banking Theory &Practice
(Optionals)
Time:3Hours] [Max Marks:100
[Min Marks:35
SECTION- A
[Marks: 4x15= 60]
Instructions to the candidates:a) Answer any FOUR of the following questions in about 30 lines each.
b) Each question carries 15 marks
1) Explain the role of money in the capitalistic economy.P14
A)IN CAPTALISTIC ECONOMICS NO
AUTHORITIES EXISTS
2) What is Barter system ? Explain the inconveniences of Barter system.P2 & 3
3) "Loans Creates Deposits" . Discuss.
4) What is monetary policy ? What are its objectives?
5) Explain the functions of Primary Credit Societies.
6) Explain the liability of a Banker for Wrongful dishonor of cheques of a customer.
7) Explain the liability of the paying Banker on crossed cheque.
8) Discuss the various types of Bills of exchange.
SECTION –B
[Marks: 5x8 = 40]
Instructions to the candidates:
a) Answer any Five of the following questions in about 15 lines each.
b) Each question carries 8 marks
9) List out different kinds of Index numbers
10) Explain the difference between commercial banking and central banking.P106
11) Differentiate between Indigenous Banker and Regional Rural Bank.
12) Explain Garnishee Order.
13) Explain the legal Position of a Minor in Opening a bank account.
14) Explain the following :
a) Special Lien b) Recuring Deposit Account.
15) Describe the Cambridge equation of exchange.
16) List out the limitations of credit creation.
17) Explain the functions of State Cooperative Bank
18) Explain the following:
a) Banker's Bank P104 b) Clearing House.
Money and Banking Important Questions
EXPLAIN
THE LIMITATIONS OF CREDIT CREATION?
Limitations
of credit creation are:
(A)
Cash reserves: All the deposits
cannot be used as credit creation some cash may be put as cash reserve which
comes in the way of the commercial bank capacity of credit creation.
(B)
Good securities: it enhances
bank safety. It can be converted into cash quickly without any loss. Availability
of non-availability of such securities decides the capacity of banks credit
creation.
(C)
Total Supply of money: Another
important limitation to credit creation is the total supply of money in
circulation.Money supply is controlled by the central bank. If the total supply
of money is increased, credit creation can be increased and viceversa.
(D)
Habits of the people: Liquidity
preference is the desire to hold cash. So if the liquidity preference is more
the banks create less credit and vice versa.
(E)
Policies of the central bank:
cash reserve ratio is determined by the central bank. So if the cash reserve
increased, the banks will have less cash in hand and its credit creation
capacity is decreased or vice versa.
(F)
Leakages: Due to improper
flowing of funds from one bank to other leakage occurs thus harming the process
of credit creation.
(G)
State Economy: During
depression times traders borrow less and more during boom times. thus state of
economy also limits creation.
Explain the main characteristics of cheque?
1.
A cheque is an instrument in
writing. it must be written in ink
2.
It must contain an
unconditional order. The order is expressed by the word “pay to”.
3.
If the payee did not encash it
before the time limit, he should revalidate the cheque.
4.
It is drawn on a specified bank
only and not on any person.
5.
The sum of money to be paid
must be certain.it is an order to pay a specified sum of money on demand.
6.
If the drawer issues a cheque
bearing a date before the date of issue it is called ante- dated cheque.
7.
If the drawer issues a cheque
bearing a date after the date of issue it is called post- dated cheque.
8.
The banker has to honour the
cheque when
·
it is complete in all aspects
and drawn properly.
·
The customer has sufficient
balance in his account.
·
IF the signature on cheque
tallies with specimen signature.
·
The banker has no doubt about
the bonafides of the holder.
EXPLAIN
THE EFFECT OF WRONG ENTERIES IN THE PASS BOOK?
Entries to the advantage of the customer:
If the pass book
shows larger credit balance then the actual balance due to wrong entries and
the customer withdraws it believing to be correct and spends it the banker is
not entitled to recover the amount wrongly paid to the customer. But the
customer has to prove.
- That he has no knowledge of the mistakes in the pass book
- That he altered his position by spending it.
- The customers’ right here is based on the principles of “Extroppel”.
Exception: if
the customer regularly maintains his accounts and the banker sends the passbook
in lieu of passbook regularly, if customer unable to prove that he is ignorant
of the mistakes because he maintains his account regularly.The principle of
Estoppel may not be applicable.
Banker sends
confirmation slip to customer showing uto dae balance if customer signs and
sends the slip to the banker , the
customer bound by it.
Effect of wrong entries in favour of the banker:
If it is favour
to banker the legal position is as follows: The customer is entitling the
mistake as soon as he identified. The customer is not expected to examine the
passbook regularly. Therefore this right to get the mistake rectified does not
lapse even if he returns the pass book without raising objection or remains
silent.
But the right to rectification cannot be enforced when:
The customer’s action shows that he treated the
entries as a settled account.
The customers negligence is proved.
EXPLAIN DRAFT?
Draft is nothing but a
cheque drawn by one of the branches of a particular bank on the other branch of
the same bank. It is a facility to customers as well as public to pay money in
the places outside the branch which draws this cheque.
EXPLAIN ATM?
ATM is nothing but automatic teller machine. This
machine gives cash to the customers after inserting ATM cum debit card slot of
the machine.
One can use for various
reasons such as Pin no, withdrawl, mini statement etc.
Almost all the leading
banks install these machines and facilitate withdrawl of money.
EXPLAIN DEBIT CARD?
Debitcard is nothing
but ATM cum debit card. The card, as name suggests, will provide a customer of
a bank access of ATM and merchant establishments all over the country as well
as world. Provided sufficient balance in ones account in a bank. By using
customer can avail withdrawal facility as well as online purchasing facility.
WHAT
ARE THE PRECAUTIONS TO BE TAKEN BY THE BANKER IN OPENING ACCOUNTS IN THE NAME S
OF MINORS AND MARRIED WOMEN?
Minors :
·
Below 18 age according to
section 3 of Indian Majority act 1975.
·
If guardian is appointed by
court they are considered as minor upto
21.
·
A minor is not competent to
contract according to the indian contract act 1872.
·
All agreements entered into by
him are void except for those which are necessary for life and for his benefit.
·
A minor is not rebound to repay
any money borrowed by him. He is entitled to recover any securities pledged by
him.
Opening of Account:
·
Savings account can be opened
but not current account.
·
Account can be joint with
guardian.
·
Minor should attained the age
of 14 years and he should know to read and write English, hindi or any regional
language.
·
Banker should Obtain Minor date
of birth and recorded in account.
·
Ordinarily cheques should not
be collected in the account of the minor.
Loans:
·
A minor should not be granted loans or overdraft because
legally he is not bound to repay them. even a guarantee by thid arty is
invalid.
·
The minor is entitled to recover
any securities pledged by him for the loan.therefore, the banker cannot enforce
either a secured or unsecured loan.
·
Loans can be given for the
necessary of life with proof that it is purely for life only.
·
Minor cannot be a partner in a
firm as he is not liable for ay losses or liabilities.banker must be very
careful while sanctioning loans.
·
IN case of death of guardian
before minor attains major, the amount can be paid to another guardian
appointed by the court.
·
In case of death of minor the
balance in the account can be taken by the guardian.
MARRIED WOMEN:
In india married women has right to
contract. She can posses property in her name.
She can draw cheques, bills etc or endorse them the banker has to take
the following precautions:
·
While opening account banker
should enquire about her character, economic status, occupation and economic
status of the husband. He must also ascertain whether she has right to sell or mortgaged
her property.
·
Opening of Joint account with
husband will be more beneficial in terms of security.
·
While granting a loan or
overdraft the banker should carefully examine the nature of security she can
offer because she can offer her own property but not his husband.
·
She can bind her husband assets
for loan with consent and authority of the husband and in case of necessaries
of life if husband does not provide them.
STATE
THE OBJECTIVES OF REGIONAL RURAL BANKS?
Objectives
of regional rural bank are:
·
To provide alternative sources
of credit to the rural poor to free them from the clutches of money lenders.
·
To meet the growing needs of
the rural poor and backward sections of the society.
·
To provide employment
opportunities and develop entrepreneurship.
·
To combine the business goals
of the rural areas with social obligations.
STATE
THE OBJECTIVES OF COOPERATIVE BANKS?
Objectives
of Cooperative bank are:
·
These banks was started in the
year 1940 to relieve farmers form the clutches of money lenders and provide
timely and adequate agricultural credit at low interest rates..
- · They have three-tier system
- · Cooperative credit societies
- · Cooperative central banks
- · State cooperative banks.
FACULTY OF COMMERCE
B.A/B.com/B.Sc 2nd Year(3YDC) First Spell Examination, May 2009
Subject code No& Name:10 COMMERCE GROUP - C
Course Code No& Name: 02 – Money & Banking Theory &Practice
(Optionals)
Time:3Hours] [Max Marks:100
[Min Marks:35
SECTION- A
[Marks: 4x15= 60]
Instructions to the candidates:
a) Answer any FOUR of the following questions in about 30 lines each.
b) Each question carries 15 marks
1) Explain the role of money in the capitalistic economy.P14
B.A/B.com/B.Sc 2nd Year(3YDC) First Spell Examination, May 2009
Subject code No& Name:10 COMMERCE GROUP - C
Course Code No& Name: 02 – Money & Banking Theory &Practice
(Optionals)
Time:3Hours] [Max Marks:100
[Min Marks:35
SECTION- A
[Marks: 4x15= 60]
Instructions to the candidates:
a) Answer any FOUR of the following questions in about 30 lines each.
b) Each question carries 15 marks
1) Explain the role of money in the capitalistic economy.P14
A)IN CAPTALISTIC ECONOMICS NO
AUTHORITIES EXISTS
2) What is Barter system ? Explain the inconveniences of Barter system.P2 & 3
3) "Loans Creates Deposits" . Discuss.
4) What is monetary policy ? What are its objectives?
5) Explain the functions of Primary Credit Societies.
6) Explain the liability of a Banker for Wrongful dishonor of cheques of a customer.
7) Explain the liability of the paying Banker on crossed cheque.
8) Discuss the various types of Bills of exchange.
SECTION –B
[Marks: 5x8 = 40]
Instructions to the candidates:
a) Answer any Five of the following questions in about 15 lines each.
b) Each question carries 8 marks
9) List out different kinds of Index numbers
10) Explain the difference between commercial banking and central banking.P106
11) Differentiate between Indigenous Banker and Regional Rural Bank.
12) Explain Garnishee Order.
13) Explain the legal Position of a Minor in Opening a bank account.
14) Explain the following :
a) Special Lien b) Recuring Deposit Account.
15) Describe the Cambridge equation of exchange.
16) List out the limitations of credit creation.
17) Explain the functions of State Cooperative Bank
18) Explain the following:
a) Banker's Bank P104 b) Clearing House.
Thursday, 20 July 2017
GST Advantages And Disadvantages
The Goods & Service Tax or GST is one of the biggest fiscal reforms in India since Independence. All businesses, small or large, will be impacted by this new indirect tax regime.
GST will be levied on both goods and services and will subsume and replace the current indirect taxes such as excise, VAT, and service tax.
Some of the benefits of GST to the Indian economy are listed below-
Removing cascading tax effect
An important benefit of the introduction of GST will be the removal of the cascading tax effect. In simple words, “cascading tax effect” means a tax on tax.
Under the current regime, the service tax paid on input services cannot be set off against output VAT. Under GST, the input tax credit can be availed smoothly across the spectrum of goods and services, thus reducing the tax burden on the end user and removing cascading effect.
Let’s take the following example to understand how removing the cascading effect will reduce taxes.
Current scenario
A trader buys office supplies for Rs. 20,000 paying 5% as tax. It charges 15% service tax on services of Rs. 50,000. Currently, he has to pay Rs. 50,000*15% = Rs. 7,500 without getting any deduction of Rs. 1,000 VAT already paid on stationery.
Under GST (assuming GST= 18%)
| GST on service of Rs. 50,000 @18% | 9,000 |
| Less: GST on office supplies (20,000*18%) | 3,600 |
| Net GST to pay | 5,400 |
This will be especially beneficial to industries that involve both goods and services (like restaurant business) and pay both VAT & Service Tax under the current regime.
Higher threshold for registration
| Tax | Threshold Limits |
| Excise | 1.5 crores |
| VAT | 5 lakhs in most states |
| Service Tax | 10 lakhs |
| GST | 20 lakhs (10 lakhs for NE states) |
As per the current VAT structure, any business with a turnover of more than Rs. 5 lakh (in most states) is liable to pay VAT (different rates in different states). Similarly, for service tax, service providers with turnover less than Rs. 10 lakhs are exempted.
Under GST this threshold has been increased to Rs. 20 lakhs thus exempting many small traders and service providers.
Composition scheme for small businesses
GST also has an optional scheme of lower taxes for small businesses with turnover between Rs. 20 to 50 lakhs. It is called the composition scheme. This will bring respite from tax burdens to many small businesses.
Simpler online procedure under GST
The entire GST process – starting from registration to filing returns and payment of GST tax – is online. Startups do not have to run around to tax offices to get various registrations under excise, VAT, service tax.
Lesser number of compliances
Also, the current tax regime has excise VAT and service tax, each of which have their own returns and compliances.
| Tax | Return filing |
| Excise | Monthly |
| Service tax | Proprietorship/Partnership- Quarterly
Company/LLP- Monthly
|
| VAT | Different for different states
Some states require monthly returns over a threshold limit. Some states like Karnataka require a monthly return
|
GST will unify all these, thereby reducing the number of returns and the time spent for tax compliances. There are about 11 returns under GST, out of which 4 are basic returns which apply to all taxable persons under GST.
Defined treatment for e-commerce
Many Indian businesses provide goods and services through the internet. Earlier, there were no specific provisions for treatment of the e-commerce sector. Currently, states have variable VAT laws for this sector. For example, online websites (like Flipkart and Amazon) delivering to Uttar Pradesh have to file a VAT declaration and the registration number of the delivery truck. Tax authorities can sometimes seize goods when there is a failure to produce documents.
Again, these e-com brands are treated as facilitators or mediators by states like Kerala, Rajasthan, and West Bengal which do not require them to register for VAT.
All these differential treatments and confusing compliances will be removed under GST. For the first time, GST clearly maps out the provisions applicable to the e-commerce sector and since these will apply all over India, there should be no complication regarding inter-state movement of goods anymore.
Increased efficiency in logistics
The logistics industry in India had to maintain multiple warehouses across states to avoid the current CST and state entry taxes on inter-state movement. Most of the times, these warehouses were forced to operate below their capacity thus increasing their operating costs.
When GST goes live, these restrictions on inter-state movement of goods will be lessened and the logistics sector might start consolidating warehouses across the country. As an outcome of GST, warehouse operators and e-commerce players have already shown interest in setting up their warehouses at strategic locations such as Nagpur, which is the zero-mile city of India, instead of every other city on their delivery route.
Reduction in unnecessary logistics costs will increase profits for businesses involved in supply of goods through transportation.
Regulating the unorganized sector
Certain industries in India like construction and textile are largely unregulated and unorganized. GST has provisions for online compliances and payments, and availing of input credit only when the supplier has accepted the amount, thereby bringing accountability and regulation to these industries.
Conclusion
There is no doubt that GST is aimed at increasing the taxpayer base by bringing SMEs and the unorganized sector under its purview. This will make the Indian market more competitive than before and create a level playing field between large & small enterprises. Further, Indian businesses will be able to better compete with foreign countries such as China, Philippines, and Bangladesh.
However, all will not be smooth sailing. A policy change of such a huge nature is sure to be faced with teething troubles. Experts have also identified some of the disadvantages of GST implementation which could be a cause for worry for some industries.
Disadvantages and Demerits of GST
In our previous article, we discussed the benefits of GST. However, like everything else, all is not smooth sailing for GST and there are some obvious disadvantages of GST for businesses and end consumers which we will discuss in detail here.
Higher Tax Burden for Manufacturing SMEs
Small businesses in the manufacturing sector will bear most of the brunt of GST implementation. Under the existing excise laws, only manufacturing business with a turnover more than Rs. 1.50 crores have to pay excise duty. However, under GST the turnover limit has been reduced to Rs. 20 lakh thus increasing the tax burden for many manufacturing SMEs.
Increase in Operating Costs
Most small businesses do not employ professionals and prefer to pay taxes and file returns on their own to save costs. For GST though, as it is a completely new tax system, they will require professional assistance. While this will benefit the professionals, the small businesses will have to bear the additional costs of hiring experts.
Also, businesses will need to train their employees in GST compliance increasing their overhead expenses.
Change in Business Software
Most businesses use accounting software or ERPs for filing tax returns which have excise, VAT, and service tax already incorporated in them. The change to GST will require them to change their ERPs, too, leading to increased costs of purchasing new software and training employees.
GST Will be Implemented During the Middle of the Year
The tentative GST implementation date is 1st July 2017. So, for the fiscal yea, 2017-18 business will follow the old tax structure for the first 3 months, and GST for the rest of the time. It is impossible to cross over from one tax structure to the other in just a day, and hence businesses will end up running both tax systems in parallel, resulting in more confusion and compliance issues.
Increase in Taxes will Increase Prices
Currently, some sectors like the textile industry are exempted from taxes or pay low tax. GST has only 4 proposed tax rates of 5%,12%,18%, 28%. Thus, for many sectors the tax burden will increase which in turn will increase the price of the final goods.
Petroleum Products Are Not Part of GST Yet
Petroleum products are being kept outside the scope of GST as of now. States will levy their own taxes on this sector. Tax credit for inputs will therefore not be available to related industries like the plastic industry which are heavily dependent on petroleum products. Petrol and diesel are required to run factory machinery and unavailability of input tax credit on petroleum products will most probably push up the final price of all manufactured goods.
Recently the Finance Minister Arun Jaitley said that GST will apply on petroleum only after all the states, through the GST Council, are agreed on it. So, an inclusion of petrol in GST is expected but there is no deadline on the horizon yet.
Registration in Multiple States
GST requires businesses to register in all the states they are operating in. This will increase the burden of compliances.
Problems Faced by E-commerce
Nowadays, many SMEs operate through their own online shopping websites or through third party websites to sell to different parts of India. Under GST, they will be required to register for all the states. Not only that, they will not be eligible for composition scheme and will be required to pay taxes like any large organisation. E-commerce facilitators are now required to collect TCS under GST which will lead to increased complications and compliances.
Composition Scheme is Not Available for Many Businesses
Composition scheme is available for only businesses selling goods. It is not available to service providers or for online sellers. This sets SMEs at par with largeorganisationss in an unfair move.
No Anti-Inflationary Measures
Every country that follows GST experienced a hike in inflation when they first introduced it. They countered the inflation by keeping tabs on prices and initiating anti-profiteering measures at the retail level to protect consumers from price swindling.
While there have been similar discussions in the GST council, India still does not have concrete anti-inflationary measures to curb the inflation that is an inevitable outcome of GST.
Conclusion
Change is definitely never easy. It is important to take a leaf from global economies that implemented GST and overcame the teething troubles to experience the advantages of having a unified tax system, easy input credits, and reduced compliances.
Once GST is implemented, most of the current challenges of this move will be a story of the past. India will become a single market where goods can move freely and there will lesser compliances to deal with for businesses.
Disadvantages of GST Implementation in India
The Indian parliament gave a unanimous decision on implementation of GST (Goods & Services Tax) in India from the coming financial year FY 17-18. Undoubtedly this move is historic in the history of Indian Economy. The passing of the GST bill is being seen the next big move after the 90s reforms of the Indian Economy. The government’s is already gearing up for timely implementation of the GST by strengthening the IT backbone which shall propel the decision ahead.
But at the same time there are few aspects with contradict the growth story and might be seen as hurdles which will take time to overcome post the implementation of GST. On one hand where a majority of corporate world is rejoicing, there are few who do not belong the happy lot.
- When the aviation industry was witnessing the much awaited growth with increasing domestic traffic, the GST implementation might slower the rate at which the industry is expecting growth as flying will become expensive. Service tax on fares currently range between 6% and 9% (depending on the class of travel). With GST, the rate will surpass 15%, if not 18%, effectively doubling the tax rate.
- India, on one hand, has the lowest insurance penetration in the world (less than 5% of Indian population & half of the global average) and on the other GST will further make the insurance products dearer. Life, health & motor insurances will begin to cost more from April 2017 as taxes will go up by up to 300 basis points.
- IT companies have adopted a strategy of spreading their operations and stationing their majority workforce where the cost of operations in low (e.g. Chennai, Bangalore). The GST may lead to increasing costs of operations at their most cost-effective delivery centers.
- The Banking & Financial Sector (including Insurance as stated above) might take a hit as ccurrently the effective tax rate in the sector is 14 per cent, which is levied only on fee component (and not interest) of the transaction. Under GST, effective tax rate on fee-based transactions is expected to increase to 18-20%. With the implementation of GST a moderate increase in the cost of financial services such as loan processing fees, debit/credit card charges, insurance premiums, etc. is expected.
- Petroleum products form a majority import value in the Indian ecosystem. However, key petroleum products like crude, natural gas, high-speed diesel and ATF have been kept out of GST. Compliance costs are likely to rise because of dual indirect tax mechanism.
A seemless implementation of GST may boost growth of the overall economy to a level that the above stated pitfalls might be merely seem as part and parcel of the India growth story. E.g. When most of the sectors grow simultaneously, it might increase jobs and disposable income of individuals to an extent that the dearness brought by GST gets offset.
Analysts are already predicting 10% GDP growth for the Indian Economy with GST coming into effect. All eyes will be focussed on Q1 earnings of FY 2017-18 once the GST comes into effect and the companies start disclosing their numbers.
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Benefits of GST | Advantages of Goods and Services Tax Updated on May 26, 2017 - 03:23:54 PM The Goods & Service Tax or GST ...
