Questions

Goods and Services Tax (GST)  will replace  all  central  as well as  state taxes  by  a  single  tax.  GST  will subsume  various  Central  indirect taxes,  including  the  Central  excise duty,Countervailing  duty,  Service tax,  etc.  It  also  subsumes  State Value Added Tax(VAT), Octroi and entry    tax,    Luxury    tax,    etc. Petroleum  products  like  kerosene, naphtha  and  LPG  will  be  under GST,  while  five  items,  including crude oil, natural gas, aviation fuel, diesel    and    petrol    have    been excluded.    Alcohol    for    human consumption will be out of GS

The Reserve Bank of India made a strong case for setting up a public credit registry in India to address the twin balance sheet problem of the banking sector and the corporate sector. Public credit registry coverage reports the number of individuals and firms listed in a public credit registry with current information on repayment history, unpaid debts, or credit outstanding. The number is expressed as a percentage of the adult population.

If expenses are paid in cash then the assets will decrease.