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What is Overview of India about?

The Indian taxation system consists of direct and indirect taxes, with the Constitution of India providing the authority to levy them. Direct taxes include income tax and corporate tax, governed by the Income Tax Act of 1961, while indirect taxes were simplified by the introduction of the Goods and Services Tax (GST) in 2017. GST aims to eliminate the cascading effect of previous tax structures and is administered through a dual model by both central and state governments.

Author

patelrudra08472

Language

EN