Home Forums General Questions What is GST?

What is GST?

Home Forums General Questions What is GST?

This topic contains 0 replies, has 1 voice, and was last updated by  ParthRaj 3 weeks, 5 days ago.

  • Author
    Posts
  • #62019

    ParthRaj
    Participant

    GST is an indirect tax that will be levied on goods as well as services. All the existing state and central indirect taxes will be subsumed under these apart from Customs Duties. It will be applicable throughout the country (except JAMMU and KASHMIR). Under this system, a single product will be taxed at the same rate in every corner of the country meaning that an air conditioner will be taxed the same in Himachal Pradesh as well as Tamil Nadu thus we also refer GST as ONE NATION ONE TAX. However, it does not mean that every item will be charged at the same rate as we cannot charge the same price for AC and salt, food powder. Apparently, the necessities will be levied at a lower rate than the luxuries, but a single luxury product or an individual necessity good will be charged GST Returns Filing the same rate throughout the country.

You must be logged in to reply to this topic.

Comments are closed.