Goods and Services Tax - Page 10

Current Status of GST in India

GST is termed as a destination based consumption tax and covers all the current forms of indirect tax laws such as VAT, Service tax, Excise Duty which will be subsumed under a single term GST....

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Impact of GST and Demonetisation on Indian Economy

GST and Demonetization are two bold decisions taken by the Indian government to tackle the issues which are existing and to resolve the emerging issues which arises day by day in the Indian economy. GST and Demonetization are likely to be described as game changers of the Indian Economy....

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CBEC launches GST mobile app & invites suggestions on AIR Duty Drawback rates under GST

CBEC has invited suggestions from Export Promotion Councils/ Commodity Boards/ Trade and Industry Associations/ Chambers of Commerce on All Industry Rates of Duty Drawback under the GST framework....

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General Impact of GST on Indian Business

Many of the companies had created multiple units in the past to save on taxes but such incentives will cease to exist under GST. How GST Model will impact these companies?...

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GST in Education and Training Industry

In the Education and Training Industry will also be impacted by GST and impact is elaborate in the following 5 aspects:-Tax Payment, Registration, Input Tax Credit, Returns, Refund...

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CBEC released Mobile App for GST

In step with the government’s Digital India initiative, Central Board of Excise and Customs has launched a mobile application for Goods and Services Tax....

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Transitional provisions under Revised Model GST law (MGL)-Part I

In our 9th article of the series, we are discussing the very important aspect of MGL that is transitional provisions, provided in model law for all the existing taxpayers. The transitional provisions are applicable to all the existing taxpayers and will impact majorly for assessees registered under central excise, service tax, state VAT....

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Possible Implications of GST and necessary changes

In our earlier posts, we discussed about registration, input tax credit, export, etc. Now, in our 8th in series of article, we will discuss some impacts of GST on normal business procedures like business contracts, business decision making, etc....

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Online process for Grant of Registration under DVAT & CST

Circular No. 24 of 2016-17 (23/02/2017)

The applicant dealer, applying online, shall provide PAN details and other brief particulars including e-mail, mobile etc. to begin with. PAN shall be verified from Income Tax data base, maintained by NSDL, on real time basis....

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AIR Rate of duty drawback under GST framework: CBEC invite suggestions

F.No.609/23/2017-DBK (23/02/2017)

To ensure smooth transition to GST framework, the Drawback Committee is to formulate and recommend revised All Industry Rates (AIRs) of drawback on exports and/ or any other relevant drawback like rebate to be implemented for exports in the context of new GST environment and/or remnant tax structure....

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Goods and Services Tax India

The Goods and Services Tax or better known as GST is a Value added Tax and is a comprehensive indirect tax which is levied on the manufacture, consumption, and sale of goods and services. The Goods and Services Tax in India would replace all the indirect taxes which are levied today on goods and services by the Central and the State governments. GST is intended to be comprehensive for most of the goods and services. Goods and Services Tax is a single indirect tax for the entire nation, which would make India a unified market. It is proposed to be a single tax on supply of goods and services, from a manufacturer to the end consumer. The credit of all the input taxes which are paid at each and every stage would be allowed in the following stages of value addition that makes GST basically a tax on value addition only at every stage. The end consumer would have to bear only the Goods and Service Tax which is charged by the final dealer within the supply chain, together with all the set-off benefits availed at previous stages.

At Taxguru, we provide all the latest GST news to our viewers. Our group of expert keep a close check on all the latest developments and provide a comprehensive analysis on GST updates. We keep updating our portal with articles on GST for the enlightening our readers. Bookmark us for all the GST articles and much more on GST.

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