Understanding One Time Tax
“One Time Tax” does not have a universally defined meaning and can vary depending on the context. However, in general terms, understanding One Time Tax typically refers to a tax that levy only once on a specific transaction or event. For instance, during the purchase of a property, you may encounter a one-time tax known as stamp duty. Which applies to the transfer of property ownership. Similarly, when registering a vehicle, you might obligate to pay a one-time tax like road tax, which covers the use of public roads. Additionally, in certain instances, a one-time tax could encompass a tax amnesty or a single penalty imposed for non-compliance with tax regulations.
To visit https://www.gst.gov.in/
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