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Read more here : https://t.co/nqzYSHTXie The salient features of the Bill are as follows: g. Conferring simultaneous power upon Parliament and the State Legislatures to make laws governing goods and...

The major features of the proposed registration procedures under GST are as follows: i. Existing dealers: Existing VAT/Central excise/Service Tax payers will not have to apply afresh for registration under...

The major features of the proposed returns filing procedures under GST are as follows: a. Common return would serve the purpose of both Centre and State Government. b. There are eight forms provided for...

The major features of the proposed payments procedures under GST are as follows: i. Electronic payment process- no generation of paper at any stage ii. Single point interface for challan generation- GSTN...

At the State level, the following taxes are being subsumed: a. Subsuming of State Value Added Tax/Sales Tax, b. Entertainment Tax (other than the tax levied by the local bodies), Central Sales Tax (levied...

GST is being introduced in the country after a 13 year long journey since it was first discussed in the report of the Kelkar Task Force on indirect taxes. A brief chronology outlining the major milestones...

At the Central level, the following taxes are being subsumed: a. Central Excise Duty, b. Additional Excise Duty, c. Service Tax, d. Additional Customs Duty commonly known as Countervailing Duty, and e....

 For Central and State Governments o Simple and easy to administer: Multiple indirect taxes at the Central and State levels are being replaced by GST. Backed with a robust end-to-end IT system, GST would...

The benefits of GST can be summarized as under:  For business and industry o Easy compliance: A robust and comprehensive IT system would be the foundation of the GST regime in India. Therefore, all...

GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits...