Gst: find out the latest news & updates on goods & services tax get more information on gst impact and analysis on sme, msme sector, benefits of gst, gst returns filing & more everything you need to know about gst tax rates & gst rate today. About gst in india following are the answers to the various frequently asked questions relating to gst: question 1what is gst how does it work. The impact of gst (goods and services tax) in india after a lot of deliberation, our gst council has finalised the rates for all the goods and major service categories under various tax slabs, and the gst is expected to fill the loopholes in the current system and boost the indian economy. Taxmann provides the latest updates on gst statutes, case laws, hsn & sac codes, gst tariff, articles, gst rate finder & pos tool.
The genesis of the introduction of gst in the country was laid down in the historic budget speech of 28th february 2006, wherein the then finance minister laid down 1st april, 2010 as the date for the introduction of gst in the country thereafter, there has been a constant endeavor for the introduction of the gst in the country whose culmination has been the introduction of the constitution. At profitbooks, we are committed to make taxation simple for small business owners in india since gst is set to replace various indirect taxes, we are going to start this series on frequently asked questions on gst. Goods and service tax in india is a revolutionary approach by the government get updated with gst related news and articles get enrolled in gst courses. Cgst -simple and more friendly tax law mar 19, 2017 the quick approval of the central goods and services tax (cgst) and integrated goods and services tax (igst) bills by the gst council is yet another major milestone in the efforts to roll out the new tax in the next few months.
Gst or goods and services tax +, set to launch on july 1, is a multi-stage, destination-based tax that will be levied on every value addition read about the launch details here set to. Read more on goods and service tax impact, gst rates in india, gst bill on times of india. Gst - get latest news on gst read breaking news on gst updated and published at zee news. Masters india, a gst suvidha provider and an application service provider offer gst solutions for businesses across india masters india is committed to provide gst subject matter expertise and world class user experience, starting from gst software for invoicing and gst return filing autotax, the gst return filing software, created by a team of gst experts and technology honchos, helps.
The gst is a value added tax (vat) proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. Goods and services tax (gst) is the biggest indirect tax reform of india gst will subsume central excise law, service tax law, state vats, entry tax, luxury taxes, octroi etc earlier, there were so many taxes which were levied on goods such as excise, var, entry tax, octroi. Cma bhogavalli mallikarjuna gupta cma bhogavalli mallikarjuna gupta is an associate member of institute of cost accountants of india and also has a master’s degree in financial management he is also a post graduate diploma holder in computer sciences.
Gst is the biggest tax reform in india check out why india need goods and service tax implemented as early as possible. Gst rates 2018, gst rates in india 2018 (item wise gst rate list in pdf) download gst rate finder search gst rate list in pdf format and excel format with hsn code list. The gst council in its 23rd meeting on november 10, 2017 recommended widespread changes in the goods and services tax (gst) the council has decided to keep the highest 28% tax on on luxury and sinful items as a result 177 items have been shifted to the 18% bracket.
What is gst return every person registered under the gst act has to periodically furnish the details of sales and purchases along with tax collected and paid thereon, respectively, by filing online returns. Gst forum india renders gst related information and accommodates to register and share knowledge on regarding topics the team of qualified cas ready to help in any sorts of information about goods and services tax. The gst council in its 28th meeting held at new delhi, has come out with some path breaking changes and recommendations which will ease the process for tax payers. Gst india is a comprehensive tax on manufacturing, sale and consumption of goods and services at national level, under, which no distinction will be made between, goods and services for levying of tax.