We all know about the advantages and disadvantages of GST. However with GST on the horizon we must know how it influences the stock markets, as volatile change in stock market can create an economic disharmony and imbalance in the country. The focus on this article will be mainly towards the positive aspects of GST […]
Central government has finally launched the GST (Goods and Services Tax) on 1st July and a whole new tax era has begun in the country. GST aims to simplify how people and entities are taxed and how they pay taxes. Since GST is a whole new thing in the country, traders, individuals, account professionals […]
GST is purported to bring in the ‘one nation one tax’ system, but its effect on various industries will be slightly different. The first level of differentiation will come in depending on whether the industry deals with manufacturing, distributing and retailing or is providing a service. Impact of GST on Manufacturers, Distributor and Retailers GST is […]
List of GST rates The much anticipated GST have come up with the rates for various items. The GST Council has fixed the tax framework under the Goods and Services Tax (GST) which is to be rolled out this July 1. Tax rates have been finalised for 1,211 items with a majority of items being […]
“THE NATION WANTS TO KNOW” The entire nation is awaiting for GST (Goods and services tax)- GST is going to replace multiple taxes currently levied on goods and services separately by Central and State Governments. A single indirect tax will be charged by both the Governments whether the subject matter is goods or services or […]
What is GST? The GST will replace at least 17 state and federal levies, making the movement of goods cheaper and seamless across a market holding 1.3 billion consumers. It would be far simpler than the current system, where a good is taxed multiple times at different rates. The underlying principle is to tax goods […]
After using a product for quite a long time or when we feel like buying a new product we tend to exchange the old one for a new product. This is frequent in consumer durables sector for products like TVs, Mobiles and Refrigerators etc. Currently we are paying a VAT of 4% on the final […]
GST is one of the biggest tax reforms undertaken by India. This will merge different taxes which are levied at different stages into a single tax. The decreased tax rates mentioned can benefit a common man in one way but for some products whose tax rates have been increased can become more expensive. Let us […]
Government is gearing up to roll out GST from July 1st. On the first day of Srinagar meet the council for GST announced the tax rates for a total of 1211 items. The tax rates varied among 5%, 12%, 18%, and 28%. As per the finance minister around 81% of the 1211 items will be […]