This document compares key aspects of the Goods and Services Tax (GST) to other existing tax acts in India, including Central Excise, Service Tax, VAT, and CST. It outlines major differences between the acts such as applicability and payment of taxes, input tax credit provisions, tax rates, returns and assessments, and how existing taxes will be merged under GST. The comparison shows that GST aims to create a uniform indirect tax structure and reduce cascading taxes by allowing seamless input tax credit across goods and services and between states.
Overview of Returns in GST, steps to file returns in GST India, Number of returns in GST, Due date for filing returns in GST India, Late Filing Fee in GST, Procedure to File Returns in GST etc.
CONTENTS:
CBDT's Notification on due dates: Decrypting all hidden spots
1.Extension of due dates relating to Income-tax returns and Audit
reports
2.Extension of due dates relating to TDS and TCS related
compliances
3. Extension of other due dates
Overview of Returns in GST, steps to file returns in GST India, Number of returns in GST, Due date for filing returns in GST India, Late Filing Fee in GST, Procedure to File Returns in GST etc.
CONTENTS:
CBDT's Notification on due dates: Decrypting all hidden spots
1.Extension of due dates relating to Income-tax returns and Audit
reports
2.Extension of due dates relating to TDS and TCS related
compliances
3. Extension of other due dates
All about GST Registration in kerala ,we framemycompany will help you register and audit your gst within days and too with a very low charge ,trust us ,call us now 7092405060.why are you waiting? click this ,this had each and every details about gst registration and it has very important details in it
Find out the detailed explanation of the provisions related to Filing of returns under the dual GST Law for the efficient tax administration from the presentation. Give it a read and we would love to know your feedback!
Summary of announcements made by Hon'ble Finance Minister on 24th March 2020 regarding extension of due dates and other relaxations in compliances pertaining to Income Tax & GST.
GST is an Indirect Tax which has replaced many Indirect Taxes in India.
The Act came into effect on 1st July 2017.
Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
What Is GST | Procedure To Register Under GST | GST DocumentsdeAsra Foundation
In this PPT, you will learn what is GST, applicability of GST, procedure to register under GST, the documents required. For more details on the checklist for GST registration, read here: https://www.deasra.in/msme-checklist/checklist-for-gst-registration-application/?utm_source=referral&utm_medium=slideshare
Presentation on Model GST Law by CA. Juhin Ajmera CA Juhin Ajmera
With the ratification of the GST Bill by more than half of the State Legislatures, it is now certain that GST is round the corner with even the Prime Misnister Modi endorsing April 1, 2017 as its go live date. Whether it will go live by then or will need couple of months more is a matter of time and depends on the outcome of the GST council meets. However, it is about time what we start educating ourselves about the Biggest Tax Reform of our times.
In this presentation, I have tried to present the basic idea, framework and advantages of GST regime over the present Indirect Tax Structure.
Taxmann's Direct Taxes Manual (Set of 3 Volumes)Taxmann
Product Details
The Present Publication is the 50th Edition that incorporates all changes made by the Finance Act, 2020 & Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Income-tax (12th Amendment) Rules, 2020 with the following noteworthy features:
• Taxmann's series of Bestseller Books for more than Five Decades
• Follows the six-sigma approach, to achieve the benchmark of 'zero error'
• Published in three volumes:
a. Volume 1: Income-tax Act as amended by the Finance Act, 2020 & Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020. It also contains other allied Acts.
b. Volume 2: Income-tax Rules as amended up to Income-tax (12th Amendment) Rules, 2020. It also contains other allied Rules
c. Volume 3: It includes the following –
i. All schemes relevant under the Income-tax Act, 1961
ii. Words and phrases as defined by various Courts and Tribunals
iii. The gist of all Circulars and Notifications which are in force
iv. Digest of all landmark rulings by the Apex Court, High Courts & Tribunals
v. Specimen, models, and drafts of deeds, letters such as indemnity bond, reply to notices, etc.
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)Suryansh Dhawan
Clubbing of old indirect tax in gst, 17 old indirect tax clubbed into gst, tax calculation under old tax structure & gst, adjustment of input under gst & requirement for claiming input tax under gst
All about GST Registration in kerala ,we framemycompany will help you register and audit your gst within days and too with a very low charge ,trust us ,call us now 7092405060.why are you waiting? click this ,this had each and every details about gst registration and it has very important details in it
Find out the detailed explanation of the provisions related to Filing of returns under the dual GST Law for the efficient tax administration from the presentation. Give it a read and we would love to know your feedback!
Summary of announcements made by Hon'ble Finance Minister on 24th March 2020 regarding extension of due dates and other relaxations in compliances pertaining to Income Tax & GST.
GST is an Indirect Tax which has replaced many Indirect Taxes in India.
The Act came into effect on 1st July 2017.
Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
What Is GST | Procedure To Register Under GST | GST DocumentsdeAsra Foundation
In this PPT, you will learn what is GST, applicability of GST, procedure to register under GST, the documents required. For more details on the checklist for GST registration, read here: https://www.deasra.in/msme-checklist/checklist-for-gst-registration-application/?utm_source=referral&utm_medium=slideshare
Presentation on Model GST Law by CA. Juhin Ajmera CA Juhin Ajmera
With the ratification of the GST Bill by more than half of the State Legislatures, it is now certain that GST is round the corner with even the Prime Misnister Modi endorsing April 1, 2017 as its go live date. Whether it will go live by then or will need couple of months more is a matter of time and depends on the outcome of the GST council meets. However, it is about time what we start educating ourselves about the Biggest Tax Reform of our times.
In this presentation, I have tried to present the basic idea, framework and advantages of GST regime over the present Indirect Tax Structure.
Taxmann's Direct Taxes Manual (Set of 3 Volumes)Taxmann
Product Details
The Present Publication is the 50th Edition that incorporates all changes made by the Finance Act, 2020 & Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 and Income-tax (12th Amendment) Rules, 2020 with the following noteworthy features:
• Taxmann's series of Bestseller Books for more than Five Decades
• Follows the six-sigma approach, to achieve the benchmark of 'zero error'
• Published in three volumes:
a. Volume 1: Income-tax Act as amended by the Finance Act, 2020 & Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020. It also contains other allied Acts.
b. Volume 2: Income-tax Rules as amended up to Income-tax (12th Amendment) Rules, 2020. It also contains other allied Rules
c. Volume 3: It includes the following –
i. All schemes relevant under the Income-tax Act, 1961
ii. Words and phrases as defined by various Courts and Tribunals
iii. The gist of all Circulars and Notifications which are in force
iv. Digest of all landmark rulings by the Apex Court, High Courts & Tribunals
v. Specimen, models, and drafts of deeds, letters such as indemnity bond, reply to notices, etc.
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)Suryansh Dhawan
Clubbing of old indirect tax in gst, 17 old indirect tax clubbed into gst, tax calculation under old tax structure & gst, adjustment of input under gst & requirement for claiming input tax under gst
Top 20 GST Interview Questions and Answers in 2023 | Academy Tax4wealthAcademy Tax4wealth
Top 20 GST Interview Questions and Answers in 2023. Goods and Service Tax (GST) is a broad, multi-stage, tax applied at every stage where value is added. GST is the only indirect domestic tax for the entire country. Learn more!
For more information, visit us at:-
https://medium.com/@OnlineAccountingCourses/top-20-gst-interview-questions-and-answers-in-2023-753f0430a16e
Top 20 GST Interview Questions and Answers in 2023 | Academy Tax4wealthAcademy Tax4wealth
Top 20 GST Interview Questions and Answers in 2023. Goods and Service Tax (GST) is a broad, multi-stage, tax applied at every stage where value is added. GST is the only indirect domestic tax for the entire country. Learn more!
For more information, visit us at:-
https://academy.tax4wealth.com/blog/gst-interview-questions-and-answers
Top Accounting Certifications that Attract Recruiters | Academy Tax4wealthAcademy Tax4wealth
Earning Accounting Certifications is a great opportunity for anyone who wants to take their career as a financial professional to the next level. Resources are required for any organization to conduct its activities. Learn more!
For more information, visit us at:-
https://academy.tax4wealth.com/blog/top-accounting-certifications
Top 20 GST Interview Questions and Answers in 2023 | Academy Tax4wealthAcademy Tax4wealth
Top 20 GST Interview Questions and Answers in 2023. Goods and Service Tax (GST) is a broad, multi-stage, tax applied at every stage where value is added. GST is the only indirect domestic tax for the entire country. Learn more!
For more info, visit us at:-
https://academy.tax4wealth.com/blog/gst-interview-questions-and-answers
Get Top 20 Interview Questions and Answer in 2023 at Academy Tax4wealthAcademy Tax4wealth
Top 20 GST Interview Questions and Answers in 2023. Goods and Service Tax (GST) is a broad, multi-stage, tax applied at every stage where value is added. GST is the only indirect domestic tax for the entire country. Join Academy Tax4wealth now, because this is the best e- learning platform. Enroll now, and make your career.
For more information, visit us at:-
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1. M/s Dipak Gandhi & Co. Add : A-705, Kohinoor Vayona
Tax & Financial Consultant Opp.PCMC Bhavan, Pimpri
gdipak09@yahoo.co.in Pune 411 018
+91 9960410281
Comparison Between GST and Other Important Acts such as Central Excise, Service Tax,VAT and CST
Sr.N
o.
Particulers GST CE ST
VAT (Taken in All
India VAT
Manual)
CST
1 Meaning Goods and Service Tax Central Excise Service Tax Value Added Tax Central Sales Tax
2 Applicability of Excise No Yes No No No
3
Applicability of Input Tax
Credit (under Central Excise )
Yes (On Raw Material
consumed)
Yes No No No
4
Applicability of Input Tax
Credit (under Service Tax )
Yes (to the limited
extent)
No Yes No No
5
Applicability of Input Tax
Credit (under VAT )
Yes No No Yes No
6
Applicability of Input Tax
Credit (under CST )
No No No No No
7 Components I. Central GST NA NA NA NA
II.State GST NA NA NA NA
III. Interated GST NA NA NA NA
8 Applicability of Taxes
All Transction of Goods
and Services Providers
Manufacturing Entitites Service Providers
Local Sale and Purchase Sale
Transction
Interstate Sale Transction
9 Payment on Account of Central Govt Central Govt Central Govt State Govt Central Govt
10
Cross Utilisation of Input Tax
Credit
Central GST & State GST
not allowed in case of
Interstate Supply
No No No No
11 Registration Number 13/15 Digit (PAN Link) 15 Digit (PAN Link) 15 Digit (PAN Link) 12 Digit
6 Digit to 12 Digit (Differ from
state to State
12 Payment of Taxes Both CGST & CST CE ST VAT CST
13 Mixing of Existing Taxes
A. Under CGST
I. All type of Central
Excise Duty
NA NA NA NA
II. Additional Excise duty NA NA NA NA
III. Service Tax NA NA NA NA
IV. Additional CVD NA NA NA NA
V. Special Additional
Duty
NA NA NA NA
VI. All type of
Surchargers
NA NA NA NA
B. under SGST I. VAT/ Sales Tax NA NA NA NA
2. M/s Dipak Gandhi & Co. Add : A-705, Kohinoor Vayona
Tax & Financial Consultant Opp.PCMC Bhavan, Pimpri
gdipak09@yahoo.co.in Pune 411 018
+91 9960410281
Comparison Between GST and Other Important Acts such as Central Excise, Service Tax,VAT and CST
Sr.N
o.
Particulers GST CE ST
VAT (Taken in All
India VAT
Manual)
CST
II. Entertainment Tax NA NA NA NA
III. Luxury Tax NA NA NA NA
IV. Taxes of Games NA NA NA NA
V. Entry Tax / Octroi NA NA NA NA
14 Not consider in GST I. Purchase Tax NA NA NA NA
II. Stamp duty NA NA NA NA
III. Vehicle Tax NA NA NA NA
IV. Electricity Duty NA NA NA NA
15 Rate of Taxes
18% (Subject to
Finalisation)
12.50% 14.50% Differ from state to State 0% to 5% (as the Case)
16 Rate of Taxes on Export 0% NIL NIL NIL NIL
17 Payment of IGST
After Adjusting of
IGST,SGST & CGST
NA NA NA NA
18 Payment of SGST & CGST
within 20 days after
completing Tax Period
NA NA NA NA
19 Date of Payment
within 20 days after
completing Tax Period
within 30 days after
completing Tax Period
within 30 days after
completing Tax Period
within 30 days after
completing Tax Period
within 30 days after
completing Tax Period
20 Status of Existing ACT NA Merged in GST Merged in GST Merged in GST Merged in GST
21
Applicable of ITC on Inter
state Transctions
Yes NA NA NA NA
22 GST Invoice
Invoice format as per
Local VAT ACT
NA NA NA NA
23 Periodicity of Payment Monthly Monthly Monthly
Monthly to Half yearly (As the
case)
Monthly
24 Benefits of GST I. Greater Tax Revenues NA NA NA NA
II. No Cascading Effect NA NA NA NA
III. Boost in Interstate
Trade
NA NA NA NA
IV. Lower Inflation NA NA NA NA
V. Higher Growth NA NA NA NA
25
Applicability of Statutory
Forms
NA NA NA NA Yes
26 Refund of Tax Within 2 Years
After completion of
Assessment
After completion of
Assessment
After completion of
Assessment
Adjusted Against VAT
27 Applicability of Returns Monthly Monthly Monthly Monthly Monthly
28 Reversal of Tax Liability before filling of Return Yes Yes Within 6 Months Within 6 Months
3. M/s Dipak Gandhi & Co. Add : A-705, Kohinoor Vayona
Tax & Financial Consultant Opp.PCMC Bhavan, Pimpri
gdipak09@yahoo.co.in Pune 411 018
+91 9960410281
Comparison Between GST and Other Important Acts such as Central Excise, Service Tax,VAT and CST
Sr.N
o.
Particulers GST CE ST
VAT (Taken in All
India VAT
Manual)
CST
29 Filling of Monthly Return
within 20 days after
completing Tax Period
within 30 days after
completing Tax Period
within 6 Months after
completing Tax Period
within 30 days after
completing Tax Period
within 30 days after
completing Tax Period
30 Filling of Annual Return
at the end of Financial
Year
At the end of Accounting Year At the end of Accounting Year At the end of Accounting Year At the end of Accounting Year
31 Assessment Proceedings I. Assessment I. Assessment I. Assessment I. Assessment I. Assessment
II .First Appeal at First
Appellate Authority
II . Appeal at Appellate
Authority
II . Appeal at Appellate
Authority
II . Appeal at Appellate
Authority
II . Appeal at Appellate
Authority
III. National GST
Appellate Tribunal
IV. Appelalte Tribunal IV. Appelalte Tribunal IV. Appelalte Tribunal IV. Appelalte Tribunal
IV .Second Appeal at
Appellate Authority
V. Appeal to High Court V. Appeal to High Court V. Appeal to High Court V. Appeal to High Court
VI. Appeal to High Court VI. Appeal to Supreme Court VI. Appeal to Supreme Court VI. Appeal to Supreme Court VI. Appeal to Supreme Court
VII. Appeal to Supreme
Court
Note : This is Only for Information and Better understanding of GST