MyGov - Discussion thread for GST

MyGov - Discussion thread for GST
Last Date Aug 16,2017 00:00 AM IST (GMT +5.30 Hrs)
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With the GST coming into effect from 1st July, 2017, the biggest indirect tax reform of independent India, is going to transform the way indirect tax is administered in this ...

With the GST coming into effect from 1st July, 2017, the biggest indirect tax reform of independent India, is going to transform the way indirect tax is administered in this country, impacting not just businesses but also the common man. GST is a tax on consumption of goods and services, which is levied at all stages right from manufacturing up to final consumption, with credit of taxes paid at previous stages available as setoff. It is going to remove the tax-on-tax effect through separate Central and State tax laws. In a nutshell, under GST, only value addition will be taxed , hence, reducing the burden of tax to be borne by the final consumer.

The most fundamental change in GST besides the consolidation of multiple taxes, is the use of a robust shared IT infrastructure in its operations. All the forms related to registrations, filing returns and other related activities can now be done through the GSTN Portal.

GST will help build an economically stronger India, with 'One Nation, One Tax, One Market.'

https://cbec-gst.gov.in/ - Click here to know more about GST

Click here to read FAQs

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SUJAY PATIL 2 years 2 months ago

I understand that medical services are outside the scope of GST regime. I believe that while affordable medical services are essential in a country like India, there are cases of medical professionals evading direct taxes by collecting fees in cash. Hence, 1% tax may be levied on medical services to bring the revenues on record and assist in augmenting direct tax revenues.