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What is GST?

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GST is a indirect tax. its common for whole india.
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GST, Accounts & Computer Course

Goods and Services Tax (GST) is an indirect tax throughout India to replace taxes levied by the Central and State Governments. Goods and services tax (GST) will subsume various indirect taxes including central excise duty, services tax, additional customs duty, surcharges, state-level value added tax...
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Goods and Services Tax (GST) is an indirect tax throughout India to replace taxes levied by the Central and State Governments. Goods and services tax (GST) will subsume various indirect taxes including central excise duty, services tax, additional customs duty, surcharges, state-level value added tax and Octroi. Other levies which are currently applicable on inter-state transportation of goods are also likely to be done away with in GST regime. read less
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Goods and Services Tax (GST) is an indirect tax throughout India to replace taxes levied by the Central and State Governments. Goods and services tax (GST) will subsume various indirect taxes including central excise duty, services tax, additional customs duty, surcharges, state-level value added tax...
read more
Goods and Services Tax (GST) is an indirect tax throughout India to replace taxes levied by the Central and State Governments. Goods and services tax (GST) will subsume various indirect taxes including central excise duty, services tax, additional customs duty, surcharges, state-level value added tax and Octroi. Other levies which are currently applicable on inter-state transportation of goods are also likely to be done away with in GST regime. read less
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GST is a New Tax Regime on supply of Goods & Service. The GST is focused on the supply as against Sale, Manufactures. Even if Supply is without consideration, still the GST will be applicable and according the Tax will be payable. its very broad concept. On introduction of GST, other Central & State...
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GST is a New Tax Regime on supply of Goods & Service. The GST is focused on the supply as against Sale, Manufactures. Even if Supply is without consideration, still the GST will be applicable and according the Tax will be payable. its very broad concept. On introduction of GST, other Central & State Tax will be abolished like - Excise duty, Service Tax, CST, VAT, LBT, Octroi. read less
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SAP Trainer

Goods & Service Tax - New Indirect tax procedure is introduced by Govt. of India.
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The Goods and Services Tax or GST is scheduled to be launched on the 1st of July, and it is set to revolutionize the way we do our taxes. But what is GST and how will it reform the current tax structure? And most importantly, why does the country need such a huge overhaul in its taxation policies? We...
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The Goods and Services Tax or GST is scheduled to be launched on the 1st of July, and it is set to revolutionize the way we do our taxes. But what is GST and how will it reform the current tax structure? And most importantly, why does the country need such a huge overhaul in its taxation policies? We answer these pressing questions in this in-depth article. Contents What is GST? Why is Goods and Services Tax so Important? How does GST work? How will GST help India and common man? GST Law in India – A Detailed History Summary What is GST? Goods & Services Tax is a comprehensive, multi-stage, destination-based tax that will be levied on every value addition. To understand this, we need to understand the concepts under this definition. Let us start with the term ‘Multi-stage’. Now, there are multiple steps an item goes through from manufacture or production to the final sale. Buying of raw materials is the first stage. The second stage is production or manufacture. Then, there is the warehousing of materials. Next, comes the sale of the product to the retailer. And in the final stage, the retailer sells you – the end consumer – the product, completing its life cycle. So, if we had to look at a pictorial description of the various stages, it would look like: GST basics Goods and Services Tax will be levied on each of these stages, which makes it a multi-stage tax. How? We will see that shortly, but before that, let us talk about ‘Value Addition’. Let us assume that a manufacturer wants to make a shirt. For this he must buy yarn. This gets turned into a shirt after manufacture. So, the value of the yarn is increased when it gets woven into a shirt. Then, the manufacturer sells it to the warehousing agent who attaches labels and tags to each shirt. That is another addition of value after which the warehouse sells it to the retailer who packages each shirt separately and invests in marketing of the shirt thus increasing its value. Value-addition read less
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