Category: Goods and Services Tax (GST)

Goods and Services Tax (GST)

Goods and Services Tax (GST) is an indirect tax levied in India on the sale of all type of goods and services Except Petroleum products and Alcoholic drinks these are taxed separately by the individual state governments. This tax came into effect from July 1, 2017, through the implementation of one hundred and first amendment by the Government of India.

• Goods and Services Tax (GST) is one indirect tax for the whole nation, which will make India one unified common market.
• It is a vast reform in Indian indirect taxation, the likes of which the country has not seen since Independence.
• It is a single Tax on both supply of goods as well as the supply of services
• It is the system of taxation will simplify indirect taxation for both (Tax Payer and Tax collector.
• It will reduce complexities of the number of Taxation because in GST will replace many types of indirect taxes ^{(shown as under)}
• It will also remove the cascading effect.
• It will change the way to do business in India.
• It is the combination of 5 acts CGST, SGST, IGST, UTGST & CESS Act, 2017
• It will have a huge impact on Indian economy and all Business (Big, Medium and Small)
• Goods and Services Tax (GST) replaced existing following multiple Indirect taxes levied by the central and state governments

Following topic are explained on the subject of Goods and Services Tax ( GST )(Please Click on Name of Topic)

Goods and Services Tax (GST) meaning and overview

Meaning of Goods and Services Tax-: Goods and Services Tax (GST) is an indirect tax levied in India on the ...
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Goods and Services Tax vs Old Indirect Tax Structure

Goods and Services Tax vs Old Indirect Tax Structure: - Goods and Services Tax vs Old Indirect Tax Structure: Here ...
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Implementation of GST and Acts of GST | with Example

Implementation of GST was very difficult because it will subsume multiple indirect taxes and will have to apply the whole ...
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Whom to Register under GST(Goods and Services Tax) Act

Now you have to learn Whom to Register under GST(Goods and Services Tax) Act or when your Business need to ...
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Exemption from GST Registration | Examples

In this topic, we will get to know that persons or businesses which have Exemption from GST Registration or which type ...
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Composition Scheme under GST(Goods and Services Tax)

Composition scheme under GST(Goods and Services Tax) is a very convenient scheme made for small-scale industries or businesses. In this scheme, ...
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GST Invoice Format In India | Dynamic Excel Sheet | TutorsTips.com

GST Invoice Format In India: - GST Invoice Format In India is so crucial because this document explains the whole ...
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Bill of Supply under GST and Format of BOS

Bill of Supply under GST: - Under GST some following business (registered under GST or not) cannot collect tax on the sale ...
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E–Way Bill under GST

E–Way Bill is as electronically generated the document which is required for transportation of goods from one place to another ...
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Time of Supply under GST

Time of Supply To know the date of payment of the liability of CGST, SGST/UTGST and IGST under GST Law, ...
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Place of Supply of Goods under GST

Place of Supply under GST Act is very crucial concept because the GST is charged on basis of Place of ...
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Place of Supply of Services under GST

As to continuity of Place of supply of Goods now we will discuss Place of Supply of Services under GST ...
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GST Invoice Format | Download Dynamic Excel sheet

GST Invoice Format in Excel As per the new taxation system in India, Every registered dealer under GST has to ...
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