GST Reform of indirect Taxation

#21
Wish it provides a single click solution, instead of multiple form filling.

They should make it as easy as opening an account with a broker :)
They wont let it do or provide a single click solution
Nahi to unki value (read sadist value) kahan rahegi :D
 
#22
They wont let it do or provide a single click solution
Nahi to unki value (read sadist value) kahan rahegi :D
They are doing it with Income Tax department, aren't they ? Financial inclusion and all that.
 
#23
GST rates finalised - Any more details

Just from one new article, any update or more details will be helpfull for group members.

7% items in 0% slab
14% items in 05% slab
17% items in 12% slab
43% items in 18% slab
19% Items in 28% slab

Mannk
Happy Reading
 
#25
Hello All,
Goods and Services Tax (GST) is a proposed taxation system aimed at restructuring the overall indirect taxation in India. It is expected that GST would be implemented w.e.f. July 1st, 2017.

The proposed GST would be a dual tax that allows both the Centre and States to simultaneously levy it on a common tax base.

GST would be applicable only on supply of goods/services, which is totally against the present concept of tax not only on the manufacture or on sale of goods, but also on provision of services.
 
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#26
I need a clarification about GST.

When they say that clothes above Rs. 1000 will be charged @ x%, do they mean MRP > Rs. 999? Is it 999+ GST ??

Will there still be any advantage in buying 'Without Bill' items ?
 

canikhil

Well-Known Member
#27
I need a clarification about GST.

When they say that clothes above Rs. 1000 will be charged @ x%, do they mean MRP > Rs. 999? Is it 999+ GST ??

Will there still be any advantage in buying 'Without Bill' items ?
It means the value of the goods before applying GST.

the problem with GST is that it is very hard to sell without bill. You cannot break the line of input credits.
 
#28
It means the value of the goods before applying GST.

the problem with GST is that it is very hard to sell without bill. You cannot break the line of input credits.
So if I buy a pair of jeans having MRP Rs. 1000, it will cost me Rs. 1180 ? Why wouldn't the shopkeeper give it to me @Rs. 1000 without bill ?
 
#30
because he will loose the input credit and since all the invoices are matched, it would be easy to catch him..
Input credit ?? Meaning the government has already collected the tax from his suppliers ?

So let please untangle it for me.

Readymade Jeans Retailer <<-- Distributor <<-- Manufacturer 1 (who tailors the cloth) <<-- Raw material manufacturers (fabric, buttons, dyes etc).

If the end tax (GST) is 18%, who pays how much and when ? Does the government overcollect the tax and then refund it ?
 

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