The consumer price index or the CPI is a process to estimate the several changes in the consumer goods and services that signifies the consumption expenditure in an economy such as transportation, shipping, food and medical care. This whole process is based on weighted average of costing method and is principally used for the calculation of inflation in the economy. CPI is calculated by taking into account the changes in the price for each commodity.
GST, a unified tax regime for indirect taxes. This is perhaps the biggest tax reform in the regime of indirect taxes as it succeeds a number of indirect taxes that are applicable under the current regime.
The taxation framework in India is about to experience a radical shift once the GST (Goods and Services Tax) system takes over.
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