Goods and Services Tax
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Subway Systems India not guilty of Anti-Profiteering: CCI
ITC cannot be denied to recipient without due investigation of supplier: Calcutta HC
GST Council Streamlines Rates & Applicability: Circulars 200/12/2023-GST & 201/13/2023-GST Unveiled!
Rising GST & Tax Evasion: An Insight into Efforts & Statistics
Navigating the recently notified amendment to Zero Rated Supplies to SEZ Units and Developers under the GST Law
Recommendations of 51st GST Council Meeting
Guide to E-Invoice Services Offered by New IRPs Under GST
GST Refund application cannot be rejected without giving proper reason
Post Sale Discounts & Incentives: GST Implications & Treatment
Book Adjustments – Whether deemed as payment under GST
GST Clarification 2023: Applicability of GST on certain services
GST Clarification 2023: Rates & Classification of Goods
July 2023 GST Revenue Collection: ₹1,65,105 Crore with 11% YoY Growth
Impressive Growth in Monthly GST Collection for FY 2021-22 & FY 2022-23
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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