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GST - Some Issues and Possible Solutions

Goods and Service Tax - GST - By: - CA Akash Phophalia - Dated:- 29-5-2015 - Goods and service tax Issues Solutions Meaning GST is a comprehensive VAT on the supply of goods or services or both. All .....

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Central & State taxes subsumed Central Tax - Central Excise Duty, Service Tax, Additional Custom Duty, Central Surcharge, State Tax - Sales Tax, Entertainment Tax, Octroi Tax, Entry Tax, Purchase Tax, Luxury Tax, Lottery Tax, .....

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evied by State Government. (SGST) Mode of implementation Central Government will make laws for levy of CGST and IGST. State Government will also make law for levy of SGST. Likely Tax Rates I .....

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Additional Taxes Additional Tax not exceeding 1% will be levied by States on inter-State supply of goods for two years or such other period as recommended by GST council. Procedural Compliance Likely to .....

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s per the information, there will be common threshold limit for manufacturer/ service provider. This will trouble manufacturer as the limit will be heavily reduced. Carry forward of CENVAT credit It has been experienced th .....

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or CGST only and the same is applicable for SGST. Cross utilization of credits between goods and services allowed? Yes it would be allowed in both cases of CGST and SGST. Cascading effect of taxes .....

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