How GST Work?

GST is a tax on goods and services with comprehensive and continuous chain of set-off benefits from the producer’s point and service provider’s point upto the retailer’s level. It is essentially a tax only on value addition at each
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JUSTIFICATION OF GST

There was a burden of “tax on tax” in the pre-existing Central excise duty of the Government of India and sales tax system of the State Governments. The introduction of Central VAT (CENVAT) has removed the cascading burden of
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What is required to pass GST??!

Constitutional Amendment Bill has to get: 2/3rd majority in Lok Sabha (LS) – Already passed 2/3rd majority in Rajya Sabha (RS) i.e. vote of 161 members of total 242. (Currently NDA has 58 members and even if potential 35
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Highlights of New Proposed Goods & Service Tax (GST)

1. The basic principal governing behind GST is to have single Taxation System for Goods and Services across the country. Currently Indian economy has various taxes on Goods and services such as VAT, Service Tax, Excise, Entertainment Tax, Luxury
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GST Bill Passed in Lok Sabha

Lok Sabha passed the Goods and Service Tax, or the GST Constitutional Amendment Bill on Wednesday amid furore in the Parliament with the Congress staging a walkout. The bill was passed in Lok Sabha with 352 Votes in favour
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