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WHAT IS GST?

GST i.e.Goods and Service Tax is a unified tax that replaces several indirect taxesleviedby the Central Government and the State Government(s).

Features of GST

(i) GST is a unified indirect tax

(ii) GSTis in India is a Dual GST Model.

(iii) GST shall apply on supply of goods and/or services.

(iv) On all intrastate (within a state) supply of goods and services Central Government shall levy Central GST and the State Government shall levy State GST.

(v) GST is a destination based tax i.e. tax will accrue to the State where the goods and/or services are consumed.

Taxes to be subsumed by GST

With effect from 01.07.2017 GST will replace following taxes.

Central Govt. taxes to be replaced by GST	State Govt. taxes to be replaced by GST
Central Excise Duty	State VAT
Duties of Excise (Medicinal and Toilet Preparations)	Entertainment and Amusement Tax (unless levied by local bodies)
Additional Duties of Excise (Goods of Special Importance)	Entry tax (all forms)
Additional Duties of Excise (Textile and Textile Products)	Purchase tax
Additional Duties of Custom (CVD)	Luxury tax
Special Additional Duty of Customs (SAD)	Taxes on lottery, betting and gambling
Service Tax	Taxes on advertisements
Central Sales Tax
Central Surcharges and cess so far they relate to supply of goods and services	State cess and surcharges in so far as they relate to supply of goods and services

GST is a unified tax

Central Government in lieu ofcentral taxes subsumed shall levy and collect Central Goods and Services Tax(CGST). State Government(s) in lieu of state taxes subsumed shall levy and collect State Goods and Services Tax(SGST).

All intrastate transactions (within the State) shall be liable to simultaneous levy of CGST and SGST.

Interstate transactions shall be liable to IGST (Integrated Goods and Services Tax).

Central government shall levy and collect CGST and IGST. State governments shall levy and collect SGST.

Transactions covered by GST

All business transactions involving supply of: (i) Goods; (ii)Services; and (iii) a mix of goods and services viz. works contract.

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Who We Are

GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .