Goods and Services Tax
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Restoring Trust: Why ICAI Must Act Decisively Against GST Fraud
CBIC Updates: Trade Facilitation, Digital Tools and Staff
GST Registration Requirement for Medical Practitioners Having Rental Income from Commercial Property
Liquidated Damages Under GST: Misconceptions, Notices & Legal Position
Eight Years of GST In India: A Comprehensive Review
भारत में जीएसटी के आठ साल: एक विस्तृत समीक्षा
Only One GST Assessment Order Per Tax Period is Valid: Orissa High Court
Interest on Delayed Payment of GST under Rule 88B of CGST Rules
Revisiting Input Tax Credit Eligibility: Time to Revisit Section 16(2)(c)
India’s GST: 8 Years of Gains & Lingering Pains
AAR Gujarat denies GST Exemption for School Transport & Catering Services
Nil GST applies on Peeled, chopped & packed garlic: AAR Gujarat
No GST on Arbitration Interest & Costs from Pre-GST Contracts: Gujarat AAR
LNG Regasification Service Classified as Job Work, GST @12%: AAR Gujarat
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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