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DISCHARGE OF CONTRACT Discharge of Contract implies termination of contractual obligations. This is because when the parties originally entered into the contract, the rights and duties in terms of contractual obligations were set up. Consequently when those rights and duties are put out then the contract is said to have been discharged. Once a contract stands discharged, parties…
MEASUREMENT OF NATIONAL INCOME National income is the total money value of goods and services produced by a country in a particular period of time. The duration of this period is usually one year.Measurement of National income can be made by taking three viewpoints, namely production viewpoint, income viewpoint, and expenditure viewpoint. Based on these…
NATIONAL INCOME IN INDIA The total net value of all goods and services produced within a nation over a specified period of time, representing the sum of wages, profits, rents, interest, and pension payments to residents of the nation. It is denoted by NNPFC. National Income in India is calculated by Income method, Product Method…
DIFFERENCE BETWEEN PERFECT AND MONOPOLISTIC COMPETITION In this post you will learn about perfect and monopolistic competition differences. PERFECT COMPETITION A Perfect Competition market is that type of market in which the number of buyers and sellers is very large, all are engaged in buying and selling a homogeneous product without any artificial restrictions and…
DIFFERENCE BETWEEN MONOPOLY AND MONOPOLISTIC COMPETITION MONOPOLY The word monopoly has been derived from the combination of two words i.e., ‘Mono’ and ‘Poly’. Mono refers to a single and poly to control. In this way, monopoly refers to a market situation in which there is only one seller of a commodity. There are no close…
PRODUCT DIFFERENTIATION STRATEGY In this post you will learn about Product differentiation strategy under Monopolistic competition Product differentiation is the means used by a firm in a monopolistic competitive market with many firms selling similar products to differentiate its product from that of other firms. Product Differentiation strategy is adopted to capture more market share…
MONOPOLISTIC COMPETITION The concept of monopolistic competition was put-forth by an American economist Prof. E.H. Chamberlin in his popular book, “The Theory of Monopolistic Competition” published in 1933. Monopolistic competition is a type of imperfect competition market structure in which a large number of firms produce differentiated products and there are no barriers to entry. ACCORDING…
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GST PORTAL GST Portal or government GST portal is hosted at https://www.gst.gov.in/. GST login portal is a website where all the compliance activities of GST can be done. Activities such as the GST registration, return filing, payment of taxes, application for refund, etc. can be done on the GST login Portal. HOW TO REGISTER ON GST PORTAL? Visit the…
GST SUVIDHA PROVIDER GSP stands for GST Suvidha Provider. GST Suvidha Providers are the special entities who have been authorized to develop a platform to enable the taxpayer to do the GST compliances. A GSP enables a GST taxpayer to comply with all the procedural provisions of the GST law through its web platform. A…
GST NETWORK GSTN stands for Goods and Service Tax Network (GST Network). It is a non-profit, non-government company jointly promoted by central and state governments. This organization is responsible for providing shared IT, infrastructure and services to central and state governments, taxpayers and other stakeholders. All the front – end activities carried out by a…
