The GST Council on Nov 10th 2017 cut tax rates of over 175 products that were in the highest tax slab of 28% under the Goods and Services Tax (GST) regime.
Currently only 50 items have been left in the 28% category out of a total of 227 items that were present earlier.
The single-step income statement emphasizes
1. total revenues and total expenses.
2. Revenues
3. Expenses
4. Net income
The primary advantage of the single step fromat lies in its simple presentation and the absence of any implication that one type of revenue or expense item has priority over another.
At present in 2017, there are only seven NPS fund managers viz. HDFC Pension Fund, ICICI Prudential Pension, Kotak Pension Fund, LIC Pension Fund, Reliance Capital Pension, SBI Pension Fund and UTI Retirement Solutions.
Comments
There are no comments.Copyright ©CuriousTab. All rights reserved.