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

Originally designed for Taiwan, Beijing applied the “One Country, Two Systems” principle to Hong Kong on July 1, 1997 when sovereignty of the territory was passed from Britain to China.But “One Country, Two Systems,” which guarantees a degree of autonomy under Chinese supervision, isn’t applicable to Taiwan. The island has evolved into a self-ruled, hyper-democracy that enjoys de facto operational independence