What is GST (Goods & Service Tax)? What is the benefit of GST?

GST is an indirect tax. Whose name is "Goods and Service Tax". Indirect Tax is the one which is given on the goods or services sold by us or on the construction of it, similarly (G.S.T.) G.T.T. There is also an indirect tax. (G.S.T.) G.T.T. June 30 will be applicable to all India from 12 a.m. (G.S.T.) G.T.T. 4% of 5% 12% 18% 28%.

Central Excise) National Excise

  (Service Tax) Service Tax

  (Vat / Sales Tax) VAT / Sales Tax

  (Entertainment Tax) Entertainment Tax ---- (G.S.T.) Goods and Services Tax

  Luxury Tax Luxury Tax

  Lottery Tax

  (Octroi tax) tax

  Entry Tax Entrance Fee

  (Purchase Tax) Purchase Fee

Used such indirect taxes. Now all of these are indirect tax (Indirect Taxes), an indirect tax (G.S.T.). s. T. All India will be applicable in the year.

As you know, our country has 29 states and 7 union territories. Due to this there are so many indirect taxes, the taxes are also levied by the States. On the basis of the financial condition of the States, which are put on permanent and temporary basis. And the percentage of all these indirect taxes is also different in every state. For this reason (G.S.T.) GST has been implemented. All of this would be a uniform tax and tax rate in India. Closing of the country's 1150 check posts will facilitate the flow of goods as soon as it is implemented. Terminating 16 indirect taxes of the state and the center will also facilitate business.

G.S.T Benefits: - Having the same tax system will also facilitate business, entering business registration and returns will also be easy. There will also be a reduction in paperwork, which will lead to less human labor. There will also be less departmental and business expenses, and both time and money will be saved. Due to various types of tax, it can now be 35%. And 1% were departmental expenses, 2% of legal expenditure and many taxes which were not adjusted by the other tax, or there was no provision of input credit credit.

In the absence of legal documents, it was doubling the item twice. If there was a mistake over the inter-state sale, he would have to take a refund of legal proceedings. His expenses were born differently. And in many cases the proceedings went long. Earlier, the departmental proceedings had to be appealed again by the Tribunal then the Court, the High Court, then the Supreme Court.

 With this, the working capital was stopped due to the continuation of the cease for many years. And the legal expenses of the year were different, which caused a loss to the business or they were closed. Due to all these expenditure and complexity, the speed of the object was increased up to 55%. The direct and final load of which was to the consumer. Due to the complex legal process, there was no foreign investment. And there was no new industry to get started. Due to this, the progress of the nation also suffered. And the lack of jobs, and inflation had to face the Jesse problem. (G.S.T.) G.T.T. In the same tax system and the maximum tax rate of 28%, all these problems will improve.

And a particular information of G.S.T. is an indirect tax. And income tax is a direct tax. The change has just happened in Indirect Taxes. Not Direct (Direct Taxes). Therefore (G.S.T.) G.T.T. There is no relation to income tax, it is common for the general public and business and industry to benefit from GST.

Separate the businessman will get rid of the registration of separate returns and invoices, which will save both time and time and settle the settlement of tax disputes quickly, check all the check posts in the country. With the closure, the flow of goods would have been easy, sending the goods to the branch would be easy. And the common people will get relief in black money and dearness.

The value of the item will be equal and cheaper, as long as the required items are kept in the range of 5% and 12%, food and life saving drugs are kept free of charge. Now, only 8 million people pay tax in India (G.S.T.) G.T.T. The purpose of the government is to increase the scope of tax rather than the tax rate. If more people pay tax then the tax rate will be lower and there will be no loss of revenue as well (G.S.T.) GST The beneficial and biggest tax reform for everyone.