Whois & Analysis for thetaxheaven.com

A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally.

It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer.

If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid.

It is similar to, and is often compared with, a sales tax.

VAT is an indirect tax because the person who ultimately bears the burden of the tax is not necessarily the same person as the one who pays the tax to the tax authorities.

India, officially the Republic of India (ISO), is a country in South Asia.

It is the seventh-largest country by area; the most populous country as of June 2023; and from the time of its independence in 1947, the world's most populous democracy.

Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east.

In the Indian Ocean, India is in the vicinity of Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand, Myanmar, and Indonesia.

Tax returns in the United States are reports filed with the Internal Revenue Service (IRS) or with the state or local tax collection agency (California Franchise Tax Board, for example) containing information used to calculate income tax or other taxes.

Tax returns are generally prepared using forms prescribed by the IRS or other applicable taxing authority.

Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services).

It is also "any activity or enterprise entered into for profit.".

A service is an act or use for which a consumer, firm, or government is willing to pay.

Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.

Public services are those that society (nation state, fiscal union or region) as a whole pays for.

Using resources, skill, ingenuity, and experience, service provider's benefit service consumers.

Services may be defined as intangible acts or performances whereby the service provider provides value to the customer.