Tomorrow, we advance with Economy by Mrunal on Pillar 2-A2: Budget: Taxation: Indirect Taxes & GST (📖 pp. 379–417).
🎯 Targets to Complete
- Indirect Taxes: Types 🧾 – Explore taxes like VAT, service tax, and excise duty passed to consumers.
- Indirect Taxes: Merits & Demerits ⚖️ – Understand benefits (e.g., wide coverage) and drawbacks (e.g., regressive nature).
- Pigouvian Tax 🌍 – Learn about taxes to correct negative externalities, like pollution.
- Cascading Effect of Indirect Tax 📉 – Study tax-on-tax issues before GST implementation.
- GST and Its Council 🏛 – Dive into Goods and Services Tax and the GST Council’s role in policy-making.
- GST Rates 📈 – Examine different GST slabs (e.g., 5%, 12%, 18%, 28%) and exemptions.
- Reverse Charge Mechanism 🔄 – Understand when recipients pay GST instead of suppliers.
- E-Way Bill System 🚚 – Learn about electronic permits for goods transport under GST.
- PAN vs GSTIN 🆔 – Compare Permanent Account Number and GST Identification Number.