Portugal has been given a green light by the European Commission’s VAT Committee to apply a reduced tax rate to the fixed part of the bill for gas and electricity for customers with low power output.
GST refund process is online but claiming input tax credit (ITC) refund in case of SGST still requires manual intervention.
Source: Tribune India
In 2017, OECD countries raised one-third of their tax revenue through consumption taxes such as the Value-Added Tax (VAT), making consumption taxes on average the most important revenue source.
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