1. What is the GST?
- Goods and Service Tax
- It is the biggest indirect tax reform since 1947.
- Taxes such as excise duty, service, central sales tax, VAT, entry tax or octroi will all be included by the GST under a single umbrella.
- In the words of the Indian Finance Minister Arun Jaitley, the GST bill will lead to the economic integration of India.
2. What is the main function of GST?
- The main function of the GST is to transform India into a uniform market by breaking the current fiscal barrier between states.
- Thus the GST will facilitate a uniform tax levied on goods and services across the country.
- Currently, the indirect tax system in India is complicated with overlapping taxes levied by the Centre and the State separately.
- GST is seen as a game changer for the economy. But the impact of these tax reforms, will not be immediate.
3. When will the GST be implemented?
- The ambitious goods and services tax (GST) may be a reality soon.
- Mostly it will be 17-18 percent.
- To pass GST, the government needs Parliament approval to the pending bill during the ongoing session. It is getting opposed in the Rajya Sabha.
- It will be a big sentiment booster for the markets. It has positive impact on goods and services related companies and thus progressing on Indian GDP.
- According to Indian Finance Minister Arun Jaitley, the implementation of the GST could augment India’s GDP by 2 per cent.
- Increased GDP will attract more foreign investments and which in turn would take Indian economy up and thus stock markets will make new highs.
- According to market experts, the sectors to benefit the most would be logistics, E-commerce, automobile, and FMCG among others.
GST Coaching Center in Chennai | Best Auditor in Chennai | Tax Training Course in Chennai | E-filing Training Classes in Chennai | Tax Training Course in Chennai | Accounting Course in Chennai | GST Registration Consultants in Chennai | GST Practitioner Course in Chennai | GST Certification Course in Chennai | TAX Return Filing Consultants in Chennai | Tax Consultants in AtturReplyDelete
I admire this article for the well-researched content and excellent wording. I got so involved in this material that I couldn’t stop reading. I am impressed with your work and skill. Thank you so much. Gst Registration Online IndiaReplyDelete
This comment has been removed by the author.ReplyDelete
the information you have updated is very good and useful,plse update further. if you required any info regarding TAX & GSTR please visitReplyDelete
Accounting Services in bangalore|Auditing Services in bangalore
|Trademark Registration|Payroll Processing
|GSTR for finance|
the information you have updated is very good and useful,plse update further.ReplyDelete
if you required any info regarding TAX & GSTR please visit
Tax consultants in Bangalore|
GST consultants in Bangalore|
Company registration in Bangalore|
Company name regstration in Bangalore|
how to register a startup company in Bangalore|
company registration cost Bangalore|
company registration online Bangalore|
pvt ltd company registration fees Bangalore|
pvt ltd registration Bangalore|
new company registration Bangalore
the information you have updated is very good and useful,please update further.
if you require any info regarding TAX & GSTR please visit
Digital Signature Services in Bangalore|
Tax consultants in Bangalore|
Trademark Registration in Bangalore|
Consultants in Bangalore|
GST Training Institutes in Bangalore|
Income Tax Consultants in Bangalore|
Auditors For IT in Bangalore|
Import Export Consultants in Bangalore|
Fssai Registration in Bangalore|
SSI Registration in Bangalore
Get Ahead Financial offers the higher returns, you have to invest in market-linked investments, not just fixed-income investments with Government benefits. High yield investments are investments that produce a high return in the form of a dividend to the investor. Investments VancouverReplyDelete
Get Your tax return Vancouver with Best Financial advisor in Vancouber. Get best Life Insurance Advice with Get Ahead Financial.ReplyDelete
Very well written article. It was an awesome article to read. Complete rich content and fully informative. I totally Loved it.Power BI Consultants SydneyReplyDelete
I will share it with my other friends as the information is really very useful. Keep sharing your excellent work.jv3 assessment in AustraliaReplyDelete
I read the above article and got some knowledge from your article which is about file taxes. It's actually great and useful data for us. Thanks for sharing it.file taxesReplyDelete
The information in the post you posted here is useful because it contains some of the best information available. Thanks for sharing it. Keep up the good work International type approval Consulting.ReplyDelete