Goods and Services Tax
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50th GST Council Meeting: Major Takeaways
GST exempt on Services by University of Calicut to its affiliated colleges & students
GST Rates on Marine Vessel Parts and Replacement
‘Dhathri Dahasamani’ classifiable under Heading 21039040 & 12% GST Payable
GST on payment to Govt for change of description of land from wetland to ordinary land
Admissibility of ITC on Government Payments via Book Adjustment
Limitations of AAR Jurisdiction: Pertaining to Goods or Services Supply by Applicant
GST on Revenue Share from Educational Institution & Interest-Free Refundable Deposit
GST not exempt on Construction of Jetty for Indian Coast Guard
Construction of Jetty for Indian Navy is work contract & not exempt from GST
Eligibility for Availing Direct Input Tax Credit on Deposit Works by KSEBL
Traders of second-hand gold ornaments not eligible for GST margin scheme
GST Audit in India: Process, Documents Required and Due Dates
GST Rate on Non-Affordable Residential Apartment Construction
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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