Home
Services Offered
Payment Details
My Services
Contact Us
Market Heatmap
Charts
Charts (Premium)
Chart Watch
JCharts (EOD)
JCharts(EOD-COMM)
HCharts (EOD)
HCharts (EOD-COMM)
Forum
Stock Lists
Screener (EOD)
Screener (EOD-Comm)
Breadth Charts
Calculators
Education
Links
FAQs
Search
Advertise Here
Charts (Old)
Login Form





Lost Password?
No account yet? Register
  iCharts Discussions

 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

How GST Works in India?

 
Post new topic   Reply to topic    iCharts Discussions Forum Index -> General Discussion
View previous topic :: View next topic  
Author How GST Works in India?
veerjahan
White Belt
White Belt


Joined: 19 Sep 2018
Posts: 2

Post: #1   PostPosted: Tue Dec 04, 2018 10:33 am    Post subject: How GST Works in India? Reply with quote

Goods and Services Tax(GST) is the biggest indirect tax reform of India and it is a single tax on the supply of goods and services. It is a destination based tax. It is a type of value which is added tax and a proposed comprehensive indirect tax levy on sale, manufacture and consumption of goods as well as services at national level. GST will replace all indirect taxes levied on goods and services by the Indian central and state governments, when you have registered for GST, you must charge GST on your supplies at the prevailing rate. GST, that is charged and collected is known as output tax, it must be paid to IRAS. The GST Registration that you earn on business purchases and expenses which is including import of goods is known as input tax. Goods and Services Tax is a consumption based tax or levy and It is based on the “Destination principle.” GST is applied on goods and services at the place where final or actual consumption happens. In each stage of sale or purchase in the supply chain GST is collected on value-added goods and services. The GST rates are 28%, 18%, 12%, and 5% . The components of GST are CGST , IGST,SGST and UTGST. GST is basically an indirect tax that brings most of the taxes which imposed on most goods and services, on manufacture, sale and on consumption of goods and services, under a single domain at the national level. The taxes are levied separately on goods and services, in the present system. GST will replace all the indirect taxes like Excise duty, VAT, CST etc..which is levied on goods and services by Government once it is implemented.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    iCharts Discussions Forum Index -> General Discussion All times are GMT + 5.5 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum


Powered by phpBB © 2001, 2005 phpBB Group

@MEMBER OF PROJECT HONEY POT
Spam Harvester Protection Network
provided by Unspam