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Goods and Services Tax (India)

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Goods and Services Tax and Commodity and Service Tax (in short, were  VSAC  or GST  English  GSTEnglish Goods and Services Tax)IsAn ImportantIndirectTaxSystemImplementedIn India from July,20l7, Which Is The Biggest Economic Reform After Independence By The government and many economists had said This will remove the different taxes being levied at different rates by the Central and various State Governments, and the same indirect tax system is implemented for the entire country, which helps India to be a common market integrated The Indian Constitution has amended to tax


this tax system

Before July 1, 2017, there are many different taxes by the central and state government on different goods, but by coming to GST, all goods will be taxed the same as before, up to 30% to 35% on any goods. Taxes imposed on certain things were directly indirectly taxed more than 50%, after coming to GST, this tax would be maximized to 28%, in which there is no indirect tax. GST will make India's economy At present, Indians pay 17 different types of taxes, but after GST, only one kind of tax will be levied, as long as applicable, excise duty, service tax, VAT, entertainment tax, luxury tax, etc. will end



After the GST is implemented, any goods and services will be found. Various levels of GST, instead of excise duty, additional excise duty, central sales tax, VAT, luxury tax, service tax etc., it will now only be GST Council has reduced rates Prodktspr tax of 66 like | There are four non-slab slabs in only 5 countries, including India at the international level of GST tax rates operated in India.

GST is a  value added tax which is a tax on the supply of goods and services to manufacturers to consumers. The benefit of the input tax paid on each stage will be available in the later stage of value addition, which at one stage makes GST essentially one by one on value addition. The final consumers will have to bear the same GST imposed by the last dealer in the supply chain. This will end all the profits of the previous steps. Taxes on Taxation, Taxes on Central Sales Tax (CST), State Level Sales Tax or VAT, Entry Tax, Lottery Tax, Stamp Duty, Telecom License Fee, Turnover Tax, Electricity Use or Sales, Transportation of Goods. the same place in many taxespotential benefits According to the release issued by the Ministry of Finance, the following benefits are possible through this arrangement:


For business and industry

  • Easy compliance, transparency: A strong and comprehensive information technology system will be the foundation of GST system in India, so all taxation services like registration, return, payment etc. will be made available to taxpayers online, so its compliance will be very simple and transparent.
  • Uniformity of tax rates and structures: GST will ensure that indirect tax rates and structures are the same across the country. It will be easier to do business only if there is a sense of resilience. In other words, GST will make the taxation of business in the country neutral, even if the choice of business place to go anywhere.
  • The termination of tax coding on taxes - the price chain and the smooth system of tax credits outside the boundaries of all the states will ensure that taxes are minimally taxable. This will reduce the hidden costs of doing business.
  • Improve competitiveness  - Decreasing transaction cost in business will lead to improving competitiveness for trade and industry.
  • Benefits to Manufacturers and Exporters  - With the inclusion of central and state taxes in GST and the complete and comprehensive inputs and services of input goods and services and the central sales tax step by step, the costs of locally manufactured goods and services are reduced Will go. This will increase the competitiveness of Indian goods and services in the international market and also boost Indian exports. The uniformity of tax rates and procedures across the country will have to go a long way in reducing compliance costs.

For Central and State Governments

  • Simple and easy administration  - Multidimensional indirect taxes at the center and at the state level are being removed by implementing GST. Based on the strong information technology system, GST will be very simple and easy from the administrative perspective compared to all other direct taxes imposed by the Center and the states.
  • Better control over misconduct  - due to strong information technology infrastructure, better compliance results than GST. In a series of value promotion, by input tax credits from one stage to the next, facilitating transfer is an inter-built mechanism in the form of GST, in which traders will be encouraged in tax compliance.
  • More Revenue Dexterity  - GST is expected to reduce the recovery cost of the government's tax revenues. Therefore, it will lead to higher revenue mastery.

For consumers

Due to the non-input tax credits available in the progressive steps of multi-indirect taxes or value addition imposed by the Central and the States, the 
single and the transparent tax of the value of the goods and services, due to the many hidden taxes in the country today, at the cost of most commodities and services have an impact on. Under GST, from manufacturers to consumers, only one will do the tax, which will lead to transparency in taxes on the final consumer.
Relief in overall tax burden  - Due to increasing skill and misconduct, the overall tax burden on most consumer goods will be reduced, which will benefit the consumers.
This is being determined by the Tax Goods and Services Tax Council, whose Chairman is the Union Finance Minister. Rates
The GST Council has set four types of taxes, these are 5, 12, 18 and 28 percent. Although many things have been exempted from GST, no tax will be levied on those items or GST will not be taken, whereas luxury and expensive goods will also be cessed in addition to GST. According to the government, 81 percent of these items will come up to 18 percent of GST.
In the ideal situation, it should be done at the same rate at the same rate, but in India, the rates of rates in different states on State and Center and on the same item or service, etc. were initially fixed to 4 rates so that in current revenue No more difference. These four rates are 5%, 12%, 18% and 28%. Essential items such as milk, lassi, curd, honey, fruits and vegetables, flour, gram flour, fresh meat, fish, chicken, egg, bread, GST will not be used on items like salt, Hindi, vermilion, stamp, judicial documents, printed books, newspapers, bangles and handlooms etc. Merchandisers with annual sales of less than 1 million were exempt from this tax regime.
Even after the independence in India, most of the tax is the tax. This reduces tax evasion  and it is a bit confusing 
MassTax receiptChange
MayIndian rupee  940.16 billion (the US $ 13.73 billion)Red Arrow Down.svg
AprilIndian rupee  1,034.58 billion ( US $ 15.1 billion) [13]Green Arrow Up Darker.svg
MarchIndian rupee  892.64 billion ( US $ 13.03 billion) [14]Green Arrow Up Darker.svg
FebruaryIndian rupee  851.74 billion ( US $ 12.44 billion) [15]Red Arrow Down.svg
JanuaryIndian rupee  863.18 billion ( US $ 12.6 billion) [16]Red Arrow Down.svg
DecemberIndian rupee  867.06 billion ( US $ 12.66 billion) [17]Green Arrow Up Darker.svg
NovemberIndian rupee  808.08 billion ( US $ 11.8 billion) [17]Red Arrow Down.svg
OctoberIndian rupee  833.46 billion ( US $ 12.17 billion) [17]Red Arrow Down.svg
SeptemberIndian rupee  951.31 billion ( US $ 13.89 billion) [17]Green Arrow Up Darker.svg
AugustIndian rupee  931.41 billion ( US $ 13.6 billion) [17]Red Arrow Down.svg
JulyIndian rupee  940.00 billion ( US $ 13.72 billion) [18]


About 38 lakh new taxpayers have been registered in GST. Thus, the total number of taxpayers has crossed 1 crore (64 registered lakh taxpayers already)



MassNumber of returnChange
December63 lakhs [19]Red Arrow Down.svg
November64 lakhs [19]Red Arrow Down.svg
October65 lakhs [19]Red Arrow Down.svg
September69 lakhs [19]Green Arrow Up Darker.svg
August67 lakhs [19]Green Arrow Up Darker.svg
July63 lakhs [19]


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