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Almost three-fourths of India has adopted the VAT regime, switching off its age-old sales tax system that had existed for more than 50 years. However, due to certain political and other considerations, some of the states have not joined the bandwagon
India, particularly the trading community, has believed in accepting and adopting loopholes in any system administered by the state or the Centre. If a well-administered system comes in, it will close avenues for traders and businessmen to evade payi
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