Saturday, June 10, 2017

gst short notes

GST In short: 

  • Tax on both goods and services when supplied
  • Replacing: Central Excise, Service Tax, VAT, Entry tax, CST etc,

How to Charge Tax:

  • Dual GST: State GST/Union Territory GST and Central GST levied on common base
  • Integrated GST on inter-state supplies and import
  • Decentralized registration and compliances

Changes Now:

  • Shift to destination based tax - Place of supply Rules
  • Easy flow of credit
  • GST is a single indirect tax for goods and sservies across india
  • More and smooth flow of GST credits
  • No more double taxation effect of indirect taxes

Sale of goods within State:

  1. SGST
  2. CGST

Sale of goods within Union Territory

  1. UTGST
  2. CGST

Sale of goods between 2 States

  1. IGST


GST OVERVIEW


ALSO READ





GST TAX STRUCTURE





TYPES OF GST SUPPLY

ALSO READ







ALSO READ




GST REGISTRATION










Credit to 
CA YOGESH KATARIA
(B.Com, ACA)

RAMDEV JYANI
(B.Com, CA Final)

2 comments:

  1. Thnks, This post is very much helpful.
    Need any GST Software

    ReplyDelete
    Replies
    1. Hi,

      Thank you for ur comment. Tally is the best and low cost software for gst

      Delete

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