Goods and Services Tax - Page 2

GST Bills: CGST, IGST, UTGST & Compensation Cess introduced in Lok Sabha

Clearing the decks for implementation of GST In India, Finance Minister Shri. Arun Jaitley on March 27 tabled four Bills of GST legislations in Lok Sabha. The discussion on the four Bills i.e. CGST, IGST, UTGST and Compensation Cess Bill could be taken up on Tuesday....

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FM introduces IGST, CGST, UTGST, GST Compensation to States Bill 2017 in Lok Sabha

Finance Minister Arun Jaitley today introduced today The Goods And Services Tax (Compensation To States) Bill, 2017, The Central Goods And Services Tax Bill, 2017 and The Integrated Goods And Services Tax Bill, 2017. Copy of the same can be downloaded from following link :– Bill No. 57 of 2017 – The Central Goods And […...

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Re-organisation of Field Formations in CBEC in GST Regime

Important Recommendations of WG:- No major shake up in structure to avoid ‘rocking the boat Factoring in of Revenue along with Tax-payer base, Hybrid model of Functional and Territorial jurisdiction, Functional/ industry specialisation to be limited to Division for the present, Verticals namely DGCEI, NACEN, Systems, TPS to be strengthe...

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Benefits and Demerits of GST in Agriculture Sector

The agriculture sector would be exempted from undertaking GST compliances as well. All basic agriculture goods (not processed) which are not chargeable under current VAT Laws would not be charged to tax in GST....

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Union Cabinet Approves 4 GST Bill

Esha Agrawal The Union Cabinet has cleared four bills related to the Goods and Services Tax (GST), ahead of their introduction in Parliament, to enable roll out of the tax reform from July 1. Approval of the bills by Parliament and a separate one by all state Assemblies will complete the legislative process for roll […]...

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Revised Statewise GST Enrolment schedule with % Enrolled

Enrolment schedule for your State The GST schedule of the enrolment activation drive for states is given below. Existing Dealers should complete the enrollment during the specified dates. We encourage you to complete the enrolment during the specified dates. State Start Date End Date % Enrolled Puducherry 08-11-2016 31-03-2017 77.8% Sikki...

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Know your Registration Status under GST

The taxpayer may now check their exact status regarding the registration under GST regime Statewise either based on Registration Number or Provisional Id or Permanent Account Number....

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Audit provisions under GST Law

Under the Central Excise and Service Tax laws, there is no requirement for audit of accounts and furnishing reconciliation statement by an accountant except special audit. ...

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The “Bhagvad Gita’s” Guide to GST

We all know that seventeen taxes – Service tax, Sale Tax, Excise, Entry Tax, etc, – under Indirect Taxation will be replaced by a uniform levy called Goods and Service Tax. ...

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GST Working Groups formed to address concerns of Trade and Industry

With the finalization of the Model GST Laws by the GST Council, stage has been set for the introduction of GST as per the deadline indicated by the Council....

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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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