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8. Recent Developments in Taxation System

 

8.1. Goods and Services Tax (GST)Taxes subsumed under GSTGST AdministrationGST CouncilIT Infrastructure for GST implementationBenefits of GSTFor business and industryFor Central and State GovernmentsFor the consumerSignificancelowering costs, improving competitiveness and improving liquidity of the businesses.8.2. The Direct Taxes Code Bill, 2010Tax on IndividualsTax on Businesses