The Central GST and the State GST would be levied simultaneously on every transaction of supply of goods and services except the exempted goods and services, goods which are outside […]
All posts by Ankit Jain - 2. page
CA in Practice
What is GST? How does it 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 […]
Why is Dual GST required ?
India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes through appropriate legislation. Both the levels of Government […]
How can the burden of tax, in general, fall under GST ?
The present forms of CENVAT and State VAT have remained incomplete in removing fully the cascading burden of taxes already paid at earlier stages. Besides, there are several other taxes, […]
How will GST benefit industry, trade and agriculture ?
The GST will give more relief to industry, trade and agriculture through a more comprehensive and wider coverage of input tax set-off and service tax set-off, subsuming of several Central […]
How will GST benefit the exporters?
The subsuming of major Central and State taxes in GST, complete and comprehensive setoff of input goods and services and phasing out of Central Sales Tax (CST) would reduce the […]
What are the salient features of the proposed GST model?
The salient features of the proposed model are as follows: (i) Consistent with the federal structure of the country, the GST will have two components: one levied by the Centre […]
How will GST benefit the common consumers?
With the introduction of GST, all the cascading effects of CENVAT and service tax will be more comprehensively removed with a continuous chain of set-off from the producer’s point to […]
Goods and Service Tax Bill (GST Bill) – An Overview
The Bill seeks to amend the Constitution to introduce a goods and services tax (GST) which will take the place of various indirect taxes, including the Central Excise Duty, Countervailing […]
What is the 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 […]