Can I avail GST input tax credit benefit? If yes, how to avail it? It is one of the most frequently asked question by business community today. In this post, I will try to answer this question. In addition to that, I will also discuss GST & types of taxes under GST. What is GST? GST (Goods and Service Tax) is an indirect tax applicable on goods and services for the entire nation. The aim of GST is to create […]
GST Rate Card – Much awaited rule of GST will soon become reality. In the final meeting of GST council, GST slabs are already decided. The government has released 213 pages GST draft containing a complete list of the products including tax rates. The GST rate card given in this document shows which product will get costlier and which product will be cheap. In some products tax waiver is given. However, in the majority of goods and services sharp rise […]
The Goods and service tax (GST) is passed by Rajya Sabha recently. The GST bill which was pending since so many years will be a reality soon. The GST will be a game changer for the Indian economy as it will abolish many indirect taxes and bring all of them in the single window. What is Goods Service Tax (GST)? GST or Goods and Service Tax is common tax system proposed by the government. As the name suggest it is […]
Goods and Service Tax (GST) – Today significant portion of our income is going away in Taxes. We pay 20 types of taxes in India. From product manufacturing to consumption we have 30-35% of tax burden. Indirect taxes from central government are excise duty, customs, services tax etc. State government taxes are VAT, Entertainment Tax etc. Even municipality also imposes taxes like water tax, property tax etc. Tax rates also differ from state to state. To overcome all this complication & to […]
