5: जीएसटी किस प्रकार का कर (good service tax ) है …..? (What type of GST ( good service tax ) is from following  ….. ?)

What is the Goods and Service Tax ? , What type of GST ( good service tax ) is from following. जीएसटी किस प्रकार का कर (good service tax ) है |


 

Question : जीएसटी किस प्रकार का कर (good service tax ) है …..?

  • 1 .Direct Tax
  • 2. Depends on the type of goods and services
  • 3. Tax
  • 4. Indirect Tax

Submit And Next>>>

 

Question : What type of GST ( good service tax ) is from following  ….. ?

  • 1 .Direct Tax
  • 2. Depends on the type of goods and services
  • 3. Tax
  • 4. Indirect Tax

Submit And Next>>>

Nowadays, service tax has become a fast-growing point to operate all financial functions. Several industries and companies follow the rules and guidelines in every part of the department under the government of India.

The government of India incorporated the Goods and Service Tax (GST) on 1 July 2017 by the President of India. Today, we’ll talk about the Goods and Service Tax and it’s related here so carefully read this page.

What is the Goods and Service Tax?

Basically, the goods and service tax is an Indirect Tax of India. It is used in India for the supply of goods and services. Goods and service tax or we can say GST is a comprehensive, simple, multistage, destination-based tax as it has covered almost all indirect taxes. The GST came into effect from 1st July 2017 by the Government of India.

History of Goods and Service Tax

Moving towards GST was first mooted by the then Union Finance Minister in his Budget discourse for 2006-07. At first, it was recommended that GST would be presented from first April 2010. The Empowered Committee of State Finance Ministers (EC) which had formed the plan of State VAT was mentioned to think of a guide and construction for GST. Joint Working Groups of authorities having delegates of the States, as well as the Center, was set up to inspect different parts of GST and draw up reports explicitly on exclusions and edges, tax assessment from administrations, and tax collection from between State supplies. Because of conversations inside and among it and the Central Government, the EC delivered its First Discussion Paper (FDP) on the GST in November 2009. This spelled out highlights of the proposed GST and has framed the reason for conversation between the Center and the States up until this point.

Main features of GST

1) GST is material on ‘supply’ of goods and products as against the current idea on the assembling of goods or sales of goods or arrangement of administrations.

2) GST depends on the rule of objective-based consumption taxation as contrary to the current guideline of beginning-based tax collection.

3) It is a double GST with the Center and the States all the while exacting duty on a typical base.

4) An Integrated GST (IGST) would be collected between state supply (counting stock exchanges) of labor and products. This will be imposed and gathered by the Government of India and such expense will be allocated between the Union and the States in the way as might be given by Parliament by Law on the suggestion of the GST Council.

5) Import of goods and products would be treated as between state supplies and would be dependent upon IGST notwithstanding the pertinent traditions obligations.

6) State taxes that would be subsumed within the GST are:-

State VAT

Taxes on betting, lotteries, and gambling

Central Sates Tax

Amusement Tax & Entertainment Tax

Taxes on advertisements

State cesses and surcharges in so far as they relate to the supply of goods and services

Purchase Tax

Luxury Tax

Entry Tax (All forms)

I hope all the details mentioned on this page will helpful for you. In addition, if you wish to more information relevant to the Goods and service tax, you need to search online.




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