GST or Goods and Services Tax is aimed at merging all existing indirect taxes such as excise duty, customs duty, entry tax, service tax, and value-added tax into one entity. The focus of this idea is to create a single market for the whole nation. This will be levied at every stage of purchasing and selling goods across India and all states will be covered under one umbrella tax-strategy.
Key Benefits of GST –
* Multiple taxation will stop
* Digital empowerment
* Input Tax Credit will be easily available
* Consolidated returns
* Most indirect taxes will be encapsulated
* Global standards compliance
* Higher threshold for Registration
* Simpler online procedure
* Better regulation of unorganized sector
In this app, you’ll find all the GST related information at one place.
This app explains about the processes involved, changes taking place, and the latest news about GST. Major topics covered are registration, returns, invoice, penalties, refunds, and more.
The topics are also well-categorized. You will find classifications such as –
Valuation in GST,
GST practitioners,
TDS Mechanism under GST,
Meaning and Scope of Supply,
Recovery of tax, Inspection,
Search, Seizure and Arrest under GST,
Benefits of GST,
TCS Mechanism
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You can find more information on topics like this such as e filing, income tax, PAN card, Aadhar, NSDL, refund status, etc. on our blog.
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