Goods and Service Tax (GST) Frequently asked Questions Part 2

 

What is Goods and Service Tax (GST)

GST, frequently asked Questions

 

Goods and Service Tax (GST) Frequently asked Questions

What is GST

GST means Goods and Service Tax

Why GST?

GST eliminates present Tax on Tax system, remove incompleteness of present CENVAT and state VAT and expects overall economic growth of India.

Would GST help exporters?

Yes, the cost of goods and services in domestic country is expected to come down thereby exporters can avail competitive price for their export goods and services. 

Why does India require IGST and SGST separately?

Indian requires both central and state goods and service tax (SGST and IGST) to maintain constitutional requirement of fiscal federalism.

GST 2

When is SGST applicable?

SGST is applicable only when the supplier and the recipient are located within the state.

GST bills falls under which constitution amendment bill of India?

Goods and Service Tax falls under 122nd amendment of Indian Constitution 2014.

If any loss to states due to the introduction of GST would such loss be compensated?

Yes, Parliament may by law provide compensation to states for such loss of revenue from the introduction of goods and service tax up to certain years.

Would Central Excise duty be replaced with Goods and Service Tax?

Yes, Central Excise duty would be replaced with Goods and Service Tax

Would Duties of Excise (Medicinal and Toilet Preparations) be replaced with Goods and Service Tax?

Yes, Duties of Excise (Medicinal and Toilet Preparations) be replaced with Goods and Service Tax.

Would Additional Duties of Excise (Goods of Special Importance) be replaced with Goods and Service Tax?

Yes, Additional Duties of Excise (Goods of Special Importance) be replaced with Goods and Service Tax.

Would Additional Duties of Excise (Textiles and Textile Products) be replaced with Goods and Service Tax?

Yes, Additional Duties of Excise (Textiles and Textile Products) be replaced with Goods and Service Tax

Would Additional Duties of Customs (commonly known as CVD) be replaced with Goods and Service Tax?

Yes, Additional Duties of Customs (commonly known as CVD) be replaced with Goods and Service Tax

Would Special Additional Duty of Customs (SAD) be replaced with Goods and Service Tax?

Yes, Special Additional Duty of Customs (SAD) be replaced with Goods and Service Tax.

Would Service Tax be replaced with Goods and Service Tax?

Yes, Service Tax be replaced with Goods and Service Tax 

Would State VAT be replaced with Goods and Service Tax?

Yes, State VAT be replaced with Goods and Service Tax.

Would cesses and surcharges be replaced with Goods and Service Tax?

Yes, cesses and surcharges be replaced with Goods and Service Tax.

Would Central Sales Tax be replaced with Goods and Service Tax?

Yes, Central Sales Tax be replaced with Goods and Service Tax

Would Purchase Tax be replaced with Goods and Service Tax?

Yes, Purchase Tax be replaced with Goods and Service Tax

Would Luxury Tax be replaced with Goods and Service Tax?

Yes, Luxury Tax be replaced with Goods and Service Tax

Would Entry Tax of all forms be replaced with Goods and Service Tax?

Yes, Entry Tax of all forms  be replaced with Goods and Service Tax

Would Entertainment Tax not levied by the local bodies be replaced with Goods and Service Tax?

Yes, Entertainment Tax not levied by the local bodiesbe replaced with Goods and Service Tax

Would Taxes on advertisements be replaced with Goods and Service Tax?

Yes, Taxes on advertisements be replaced with Goods and Service Tax

 

Would Taxes on lotteries, betting and gambling be replaced with Goods and Service Tax?

Yes, Taxes on lotteries, betting and gambling be replaced with Goods and Service Tax

Would State cesses and surcharges be replaced with Goods and Service Tax?

Yes, State cesses and surcharges be replaced with Goods and Service Tax

What are the advantage of GST?

The advantage would be in terms of a reduction in overall tax burden on goods, making Indian products competitive in domestic and international markets, supports economic growth and easier to administer.

Click here to know GST rate on Goods and Services

GST Exemption list of goods and services

Find HSN number or Service tariff code for GST

GST registration guidelines

Indian GST Laws

How to export your goods?

Related posts about Export Import Free Online Training ;

Difference between standard dry container and Flat rack container
Types of Export Containers
Dimension of Cargo Containers
Common tips to importers of Sugars and Sugar Confectionery
Tips to importers of Edible preparations of fish,meat,crustaceans etc
Guidelines to importers of Animal fats, Animal oil, vegetable fats,vegetable oil etc.
How is packing credit/pre shipment finance be liquidated?
Wool and Woollens Export Promotion Council
Wool Industry Export Promotion Council
Tobacco Board
TEPC,Telecom Equipment and Services Export Promotion Council
How to export your product?
How to import your product?
Click here to know HS code of your product
12 Major risks and solutions in Imports and Exports
Bank Pre shipment Finance to exporters
Export Promotion Councils and Commodity Boards, product wise
Is Airway bill a documents of title?

Is Customs House Agents (CHA ) required to be appointed mandatory?
Is DP terms of payment safe in export business?
Is Letter of Credit LC safe for an Importer?
Is ON BOARD CERTIFICATE required for LC negotiation
What is VACIS exam in US import customs clearance

GST slab rate on sale or purchase of Aluminium ingots, aluminium wire bars, aluminium wire rods

GST on Aluminium waste and scrap

GST payable rate on sale or purchase of Aluminium powders and aluminium flakes

GST amount of rate on purchase or sale of Aluminium bars, Aluminium rods and profiles

GST on sale or purchase of Aluminium wire

GST levied rate on sale or purchase of Aluminium plates, Aluminium sheets, and Aluminium strip thickness exceeding 0.2mm

Slimmed down GST levied rate on sale or purchase of Aluminium foil

GST levied rate on Aluminium tubes and Aluminium pipes business

GST on Aluminium pipe fittings

GST levied rate on sale or purchase of Aluminium structures and parts of structures

GST slab rate on sale or purchase of Aluminium Door, Aluminium windows and their frames

GST payable rate on Aluminium reservoirs, tanks, vats and similar containers

GST slab rate on sale or purchase of Aluminium casks, Aluminium drums, Aluminium cans, Aluminium boxes etc

GST imposed rate on Aluminium containers for compressed gas, Aluminium containers for liquefied gas business

GST payable rate on Aluminium Stranded wires and Aluminium cables business

purchase of Aluminium table, aluminium kitchen, aluminium other household articles



Comments


sayan paul: i have yearly turnover up to 12 lacks . do i need vat , cst , gst registration . please answer me details . thank you , sayan paul .

Vijay dabhi: Mera gstin nomber chahiye

KUMARAVEL: 1. MY BUSINESS IS FRANCHISES COURIER -INTERNATIONAL 2 MY BUSINESS DEALING SPECIAL ECONOMIC 3. PURCHASER NAME : ARAMEX COURIER - SPECIAL ECONOMIC ZONE OFFICE 4.MY CLIENT (SALES) IS IN SPECIAL ECONOMIC ZONE 5. MY CLIENT SAID ME NOT GIVE ME OUR INVOICE- 0 RATED -SEZ 6. I RECEIVE IS ARAMEX COURIER IS GST TAX FOR INVOICE 7. BUT HOW CAN I INPUT ARRIVE THE GST filing BECAUSE MY CLIENT NOT GIVE ME GST TAX

CHAKRAVARTHI THIRUVENKATACHARI SRIDHAR: One of my client had submitted GSTR-3B with some major errors on it. But not filed by duly signing with DSC. Under such circumstances how to correct the same.

KUMARAVEL : pay Gst net banking

shyam: dear sir my bussiness is andaman & nicobar islands,because i want GST account numbers. which account i can pay taxes, i have ready pay tax amount but which account i can pay. i request to you please forward me that GST account /RBI. Thanking you shyam

Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers