Goods and Services Tax
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Lifestyle Liable for Profiteering as Base Prices Increased After GST Rate Reduction
Gauhati HC Allows Restoration of GST Registration as Taxpayer Agreed to File Pending Returns
What Is GST? Types, Meaning & How GST Filing Works in India
SC Grants Interim Relief as Entry Tax on Export-Bound Goods Requires Fresh Examination
Calcutta HC Upholds Entry Tax Amendments as Jindal Stainless Overruled Earlier Legal Basis
GST Summons Challenge Dismissed as Date of Appearance Had Already Passed
GST Registration Cannot Be Cancelled merely for Closed Business Premises During Inspection
Distinction Between GST Credit Note & Commercial Credit Note
GST on RWA Maintenance Charges: What Residents Need to Know
GST Registration Amendment Allowed Subject to Deposit of Tax Arrears & Statutory Dues
Bombay HC Quashes GST Notice as Multiple Financial Years Cannot Be Clubbed in One Section 74 Proceeding
Bail Granted in Alleged ₹8.36 Crore Fake ITC Case as Investigation Was Complete
P&H HC Grants Bail In ₹30.4 Cr Fake Invoice case as Co-Accused Already Received Similar Relief
GST Registration Restored as Taxpayer Was Given Final Chance to File Returns
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.
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