In recent years, artificial intelligence (AI) has made significant strides, enabling machines to understand and respond to human language like never before. One of the most remarkable achievements in this field is ChatGPT, an advanced language model developed by OpenAI. With its ability to engage in natural and coherent conversations, ChatGPT has ushered in a new era of human-machine interaction. In this blog post, we will explore the fascinating capabilities of ChatGPT and discuss its diverse range of applications across various industries. he Birth of ChatGPT : ChatGPT, built upon the foundation of the groundbreaking GPT-3.5 architecture, represents the culmination of years of research and development in natural language processing. Trained on vast amounts of text data, ChatGPT has achieved an impressive level of proficiency in understanding and generating human-like text. Its underlying neural network empowers it to comprehend context, generate coherent res
Impact and Scope of GST Bill in India
#SSC-CGL2018 #SSC-CHSL2018 #IB #SBI-PO (250 words)Important Topics for SSC, IB, BANK
The 122 Constitutional Amendment bill rolled out on July 1, 2017, reformed Indian tax structure after the economy took its current shape after 1991 economic reforms. Goods and Services Tax originally conceived back in 2003 budget speech took years to get its nod in the parliament.
GST with its implementation has brought complete structural change in the Indian economy, replacing eight central taxes and nine state taxes with three simple Central GST, State GST and Integrated GST. Replacing all these taxes into one regime under the supervision of GST Council has increased efficiency in intra-state and inter-state business transactions. The introduction of input tax credit previously available only on central excise duty and service tax paid up to the level of production helps to save tax on tax. GST regime under the guidelines of GSTN has brought complete transparency in the system, with helping tax department in finding out tax evaders. Although commodities like petroleum and alcohol have been kept out of the purview of GST, considerable negotiations to include those will bring complete freedom for manufacturers and buyers against selective 'set-offs'. While inexplicable price hike relating to GST has suffered the market considerably, the government should necessitate tax credit and benefits to every stage.
While GST can't be the panacea for all economic growth related complexities, it can change the outlook of the Indian economy in coming years. As the primary sector is silently being replaced by secondary and tertiary sector, such economic reforms are necessary to accommodate the transformation.
Comments
Post a Comment