Login | Register Now | Contact Us   
 

CGST Act IGST Act UTGST Act GST (Compensation to the States) Act Addendum to the GST Rate Schedule - 03.06.2017 101st Constitution Amendment Act, 2016 Addendum to the GST Rate Schedule - 18.05.2017 GST Compensation Cess Rates Decided in the GST Council Meeting held on 18.05.2017 Chapter Wise Rate wise GST Schedule - 03.06.2017 Chapter wise GST Rate Schedule for Goods Decided in the GST Council Meeting held on 18.05.2017 Revised Threshold for Composition Scheme - 11.06.2017 IGST Exemptions Approved by the GST Council - 11.06.2017 GST Rates Approved by the GST Council - 11.06.2017 Service Tax Exemptions in GST IGST Exemption, Concession List - 03.06.2017 Composition - Rules Valuation Rules ITC - Rules Invoice, Debit & Credit Notes - Rules Payment - Rules Refund - Rules Registration - Rules Return- Rules Transition Rules Proposed CTD Document Accounts and Record Rules GST rate Schedule for Services Decisions Taken by the GST Council in the 16th Meeting - 11.06.2017 List of Services under Reverse Charge Classification Scheme for Services Under GST
GST - A SINGLE TAX REGIME
06 June, 2009 Ahmedabad :
GST - A SINGLE TAX REGIME

Indirect Tax is one area where very few reforms have been made since a couple of decades and therefore needs to be reinforced and emphasized. This instigated a debate relating to its introduction in India, way back in union Budget of the Year 2006. End of year 2008 did see some crystallization on aspects of GST with April 2010 as its implementation deadline. With only few months at hand to ensure all constitutional and legislative changes is indeed a challenge for all stakeholders. best replica watches

Why GST?

1. World over goods and services attract the same rate of Tax. That is the foundation of a GST.

2. A single rate tax throughout the country would replace multiple Central and State levies, such as VAT, Excise duty, Service Tax, , etc. GST would converge the Service Tax rate and CENVAT rate.

3. A substantial relief to industry and the cheap replica uk watches consumers with a boost to employment by creating a common market.

4. A boon for India’s economy as GST would radically change India’s Indirect Taxation, enhancing economic integration of State which are disintegrated in terms of taxation policies.

5. As the whole system of Indirect Taxation has become quite complicated, cumbersome, unreasonable and overloaded, the GST would offload it.

6. The multiple taxation has made the system of collection lethargic which is doing harm to growth of economy and as Indirect taxation is directly proportional to growth of economy replica watches for cheap sale uk, GST would act as an catalyst – a push to our gentle paced economy, by increasing the volume of tax collection.

Finally – a roadmap for GST has been made with newly elected Government been assigned to vigorously pursue it. It would replace Excise Duty and Service Tax at the Centre level and VAT at the State level around the beginning of next fiscal. Before GST is introduced its draft structure would be put on the websites and interactions would be held with traders and industry to incorporate any changes in the Final Tax System.

GST

Courtesy: Alka Bhalla
Related Contents
  • Goods and Service Tax (GST)
  •  
     

    www.centralexciseonline.com

     


    www.taxolegal.com


    Page copy protected against web site content infringement by Copyscape


    www.customsindiaonline.com
    Home | Mission | Contact Us | Acknowledgements © 2009 Copyrights, All Rights Reserved. 
    Disclaimer Though all efforts have been made to reproduce the order and other contents correctly, the access and circulation is subject to the condition that EASY SERVICETAXONLINE DOT COM PRIVATE LIMITED is not responsible/liable for any loss or damage caused to anyone due to any mistake/error/omissions. Mr Certify site is constantly updated and any or all of the contents are liable to be modified, altered, deleted or replaced. EASY SERVICETAXONLINE DOT COM PRIVATE LIMITED is not responsible/liable for any loss or damage caused to anyone whether directly or indirectly  due to any modification , alteration, addition, deletion or replacement of any of the contents.

    Copyright: Reproduction of news articles, photos, or any other content in whole or in part in any form or medium without express written permission of  EASY SERVICETAXONLINE DOT COM PRIVATE LIMITED is prohibited.Do not copy contents of this site. All pages are protected by COPYSCAPE. Plagiarism will be detected by COPYSCAPE.