Question

how do you interpret joint sector undertakings in the light of GST act?

Answer 1

Answer:

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Answer 2

Answer:

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The Government of India has opted for a mixed economy where both private and government enterprises are allowed to operate.The economy, therefore, maybe classified into two sectors viz.,private sector and public sector.The private sector consists of business owned by individuals or a group of individuals, as you have learnt in the previous chapter. The various forms of organisation are sole proprietorship, partnership, joint Hindu family, cooperative and company.The public sector consists of various organisations owned and managed by the government. These organisations may either be partly or wholly owned by the central or state government. They may also be a part of the ministry or come into existence by a Special Act of the Parliament. The government, through these enterprises participates in the economic activities of the country.

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