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2 days ago · Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer 's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub ...
1 day ago · In economics, inflation is a general increase in the prices of goods and services in an economy. This is usually measured using the consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
4 days ago · Sales taxes are imposed only on taxable transfers of goods or services. The tax is computed as the tax rate times the taxable transaction value. Rates vary by state, and by locality within a state. [5] Not all types of transfers are taxable. The tax may be imposed on sales to consumers and to businesses.
4 days ago · Understanding Cost of Goods Sold Cost of Goods Sold (COGS) represents the expenses that are directly tied to the production of goods or services sold by a company. In the service industry, COGS usually encompasses direct expenses like materials and labor that are attributable to service delivery. An essential aspect of COGS for service businesses […]
6 days ago · The GST tax ousted plethora of taxes such as excise duty, service tax, VAT, etc., to stand as a unified tax regime. Most specifically, GST is a multistage, value-addition single domestic indirect tax regime for the entire nation. This comprehensive tax is assorted into 5 slabs which are 0%, 5%, 12%, 18%, and 28%.
- What is the purpose of goods and services tax?The central purpose behind introducing the Goods and Services Tax was to eliminate the tax-on-tax effect or cascading effect of taxes. Further, it...
- What is the GST Law?GST stands for Goods and Services Tax. GST is a multi-staged indirect tax that replaced several central and state taxes such as VAT, excise duty, s...
- What are 3 types of GST?The 3 types of GST in India are:1.CGST-Central Goods and Services Tax2.SGST-State Goods and Services Tax/ UGST- Union Goods and Services Tax3.IGST-...
- How is GST calculated?Calculating GST is explained with this illustration: If a good or service is worth INR 1,000 and 18% GST is applicable on it, then GST amount will...
- Who can claim a refund in GST?Under Section 54(3) of the CGST Act 2017, a GST registered person can claim a refund for unutilized Input Tax Credit at the end of a tax period. A...
3 days ago · The consumer guarantees provide any consumer with a basic level of protection in relation to goods and services that they purchase in Australia. For instance, some of the consumer guarantees in relation to goods include that the goods are: of acceptable quality; and. fit for any purpose specified by a particular consumer to the seller.
5 days ago · The market determines that goods and services should be produced, how many of the products will be created, and what the price of the goods is. In a free-market economy, the resources are owned by individuals, and the resource allocation is determined by these individuals, not the government.
