Category: GST 2016

Center-State Financial Relations with GST

Center-State Fiscal Power: Currently, fiscal powers between the Centre and the States are clearly demarcated in the Constitution The Centre has the powers to levy tax on the manufacture of goods (except alcoholic liquor...

GST Benefit to Government

Government is expecting following list of benefits from GST: Simpler Tax system across nation. Broadening tax Base with reduced exemption. Better co-ordination between state and center to check evasion and administration. Better tax compliance...

Benefits of GST to Business

Benefits of GST to economy and business in number of ways: Reduction in cascading and double taxation Reduction in multiplicity of taxes. Neutralize  taxes especially for exports. GST will promote Development of common national market....

Salient Features of GST

The salient features of GST are as under: GST would be applicable on supply of goods or services as against the present concept of tax on the manufacture of goods or on sale of...

Introduction of GST

Present Tax Structure in India for Indirect Taxes Proposed Indirect Tax system after GST Introduction of GST The introduction of Goods and Services Tax (GST) would be a very significant step in the field...