Integration applies the same tax rate to income whether taxed inside a corporation or as personal income. Complete integration treats corporate income as flowing through to shareholders. Partial integration treats dividends as flowing through.
The ITAS Portal provides efficiency, convenience, and control when managing taxes. Embrace the digital era and unlock benefits that transform tax management.
The integrated tax facilitates refund of IGST paid to tourists leaving India with goods. Citizens must re-deposit payments made to incorrect tax heads. Eliminates tax cascading. Prices went up in pre-GST era due to taxes imposed on taxes. IGST removal of taxes and documentation obstacles encourages seamless inter-state flow of goods and services.
Tax Integration aims to remove differences in tax payable because of business or income structure choice.
ITS provides a central location for collection and administration of new and existing taxes. Supports new return filing and payment channels. Improved customer service and data leverage across programs. Increased revenue and compliance.
Types of Tax Systems
What are the 3 types of tax systems?
Understanding the Tax System
What is the tax system and how does it work?