GST (Goods and Service Tax) is an indirect tax which was launched by Prime Minister Modi on 1 st July 2017. It is a tax which is levied by government on supply of goods and services. This tax has brought a greatest reform in Indian taxation system by replacing all indirect taxes which were levied earlier with one single tax.

2023年5月2日 · Businesses must understand the scope of supplies under GST to determine their tax obligations, including registration, charging GST, issuing tax invoices, and filing returns. By properly identifying the supplies that fall within the scope of GST, businesses can ensure compliance with the GST regulations and fulfill their tax responsibilities. 3.

2023年11月28日 · Learn about the Goods and Services Tax (GST). Find out its meaning, purpose, key components, advantages, challenges, and the economic impact it holds.

GST has a multi-tier tax structure, with different tax rates for different goods and services. The tax slabs are 5%, 12%, 18%, and 28%. Additionally, there is a special rate of 0.25% on rough precious and semi-precious stones, and a cess on certain goods such as cigarettes, aerated drinks, and luxury cars.

2022年9月12日 · As per section 9 of CGST Act, GST will be levied on intra-State supply of goods or services at the specified rate. As per section 5 of IGST Act, IGST will be levied on inter …

The meaning and scope of supply under GST can be understood in terms of following six parameters, which can be adopted to characterize a transaction as supply: Supply of goods or services. Supply of anything other than goods or services does not attract GST.

ENUE MINISTRY OF FINANCE GOVERNMENT OF INDIA AS ON 1st April, 2019 The uniform system of taxation, which, with a few exceptions of no great consequence, takes place in all the different parts of the United Kingdom of Great Britain, …

Salient features of Indian GST: Dual GST – Concurrent taxation by the States and Centre Multiple rate slabs – Allowing for the consumption of goods by different income groups to be taxed differently IT based system- GST portal-registration, returns and refunds

slatures to make laws for imposing taxes on goods and services. GST will be levied on all supply of . ods and services except alcoholic liquor for human consumption. Parliament has exclusive power to make laws with respect to goods and serv.

ructure for the GST. Joint Working Groups of officials having representatives of the States as well as the Centre were set up to examine various aspects of the GST and draw up reports specifically on exemptions and thresholds, taxation of services and taxation of .