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Goods and servive tax
1.
2. ๏ The constitution (One hundred and first amendmend) Act,2016
introduce a national goods and service tax in India from 1st April 2017.
๏ The GST is a value added tax (VAT) and is proposed to be a
comprehensive indirect tax.
๏ GST module for the country has been proposed by the EC (empowered
committee) of state finance minister.
๏ Levy on manufacture, sale & consumption of goods as well as
services.
3. ๏ GST is to be treat all commerce business
model the same.
๏ GST is to treat all E-commerce sales the
same.
๏ GST is to treat all the transaction across the
country as same.
4. ๏ Life gets Simpler
๏ Revenue will get a Boost
๏ A Common Market
๏ Logistic inventory cost will fall
๏ Investment Boost
๏ Make in India
๏ Less Development States get a Lift
๏ Manufactured Goods could become Cheaper
lower logistic and TAX Cost
๏ GDP lift
๏ Freeing up online
5. BENEFITS TO CORPORATE
Collapse of
commodity
categories to
simplify
Uniformity of
tax structure
across the
states
Wider
applicability
of input tax
credit
Blurring
definition b/n
goods &
service= less
dispute
6. TAX buoyancy
as more ad
valorem
TAX buoyancy
as destination
based
TAX
buoyancy
through
better
compliance
Higher service
tax through
higher tax