The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multistage, destination-based tax that is levied on every value addition. In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This ...
GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax tha...
Legislation: The GST Act was passed in Parliament on 29th March 2017 and came into effect on 1st July 2017. It is a single domestic indirect tax law for the entire country. Tax Structure: It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. Ta...
The Goods and Services Tax Act was passed by Parliament on March 29, 2017, and came into effect on July 1, 2017. This pivotal reform marked a significant shift in India’s tax landscape, intending to reduce the tax burden on businesses and consumers while promoting a unified market across ...
The GST Act became effective on 1st July 2017, and since then, GST has replaced all the taxes that existed before it. GST is a comprehensive tax that is imposed at every stage of the sale. The GST regime also offers reduced tax liabilities to businesses as per the composition scheme. To...
Also known as the Goods and Services Tax, GST is an indirect tax that has replaced many indirect taxes in India such as excise duty,VAT, services tax, etc. The Goods and Service Tax Act was passed in Parliament on 29th March 2017 and came into effect on 1st July 2017. ...
Taxes on lotteries, betting, and gambling How does GST work? The GST came into effect about two years ago after an amendment made to the constitution of India by the Government of India. With the implementation of this tax, smaller and varying taxes throughout the production process were offi...
Good and Service Tax (GST) is an Indirect tax which came into effect on July 1, 2017. GST was introduced to replace the hassle of multiple taxations in India under the slogan, “One Nation, One Tax”. Prior to the GST regime, a taxpayer was required to file forms such as Central Ex...
This amendment in the GST registration process came into effect from 21st August, 2020. We bring to you a small note on changed conditions for Grant of Registration - A. New Procedure of Registration 1. For below category of persons Aadhaar authentication process has been introduced for applicati...
Compensation Cess is to be provided to a State for five years from the date the State brings its SGST Act into force. 12. GST levied & taxes brought into GST. GST applies on all goods and services, except for Natural Gas Aviation Turbine Fuel Petrol Diesel Petroleum Crude Alcoholic Liquor...