Goods and Services Tax
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GST: RCM Liability Under Section 9(3) Irrespective of Supplier Turnover
GST & Margin Scheme on Second-Hand Gold Jewelry: AAR Ruling
Key Highlights of 51st GST Council Meeting held on 2nd August, 2023
ITC of recipient cannot denied without conducting due diligence of supplier
Comprehensive Guide to GST Composition Scheme for Small Businesses
Central Goods and Services Tax (Second Amendment) Rules, 2023
GST eCommerce Tax Guidelines for Supplies by Unregistered Persons
GST: CBIC notifies New eCommerce Tax Rules for Composition Taxpayers
Retrospective GST registration cancellation without a valid reason is arbitrary exercise of power
HC Validates E-way Bills as Proof of Ownership of Goods in Transit
GST on Interest-Free Loans to Subsidiaries: A Study
GST implication on YouTube Ad Revenue: A Comprehensive Guide
CCI Exonerates Prasu Infrabuild from Anti-Profiteering Charges
Anti-Profiteering Provisions not applies Due to Lack of Pre-GST Comparison Units
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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