The full form of GST isGoods and Services Tax. It is an indirect tax levied on the supply of goods and services across India. This comprehensive tax system is designed as a multi-stage, destination-oriented tax applied at each point of value addition in the supply chain. By replacing multi...
1. SGST - Good and Service Tax (GST) by States Government.2. CGST - Good and Service Tax (GST) by Central Government.3. IGST - Good and Service Tax (GST) on International Goods.These all are nothing but Central excise/Service Tax, VAT(Value Added Tax) and CST. To know more about...
The tax system and administration are different for every country. It's not unusual for a country to impose Goods and Service Tax (GST) on businesses for the government to control, regulate, and generate revenue. In India, the tax system is unique and different compared to other countries. ...
Goods and services tax is a form of value-added tax levied on most products sold to the general public. This particular tax is usually paid by consumers; it is then passed on to the government by the business offering the goods and services. In a nutshell, the goods and service tax is...
Selecting the right field enables us to compute the accurate Goods and Service Tax that you'll have to pay to the Government. GST Codes: HSN & SAC Codes What are HSN codes? HSN stands for the Harmonized System of Nomenclature. This code is used for the classification of goods ...
Goods and Services Tax (GST) in India, explained with benefits and components to get a better understanding and why it matters to you and your business.
Goods and Services Tax (GST) is a tax applied by a business on the sale of particular products and/or services provided to customersInvoicing and accounting software like Debitoor makes it easy to apply GST to your invoices and includes automatic calculations. Try it free for 7 days....
Image source:indiatimes History of Taxation in India Impact of GST on Businessmen:- At present, the businessmen have to pay different types of indirect taxes such as sales tax on trading, service tax on services, excise duty on manufacturing of goods etc. Due to this, the...
Goods and Services Tax-What’s in store for 2020 It is a significant time for everyone as the year comes to a close – not only 2019 is ending, with it ends the decade that has witnessed radical tax reforms under the Indian economy. These reforms established the regime of the bigges...
HSN codes for GST in India All the states in the country have their own tax system for classifying the goods tax rate. But with GST regime there will be an uniformity all over the state which will harmonize the system of HSN for the goods and the service accounting code or SAC system...