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Expected Model of GST

Goods and Service Tax - GST - By: - CA Akash Phophalia - Dated:- 25-8-2015 Last Replied Date:- 31-8-2015 - As per recommendations by Joint Working Group appointed by Empowered Committee in 2007, the GST in India may have four components in its tax structure as - (a) Central tax on goods upto retail level, (b) Central Service Tax, (c) State Vat tax on goods, and (d) State VAT on services. As far as tax rate structure is concerned each of the above four components may have four-rate categories. Th .....

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cal bodies) Service Tax Luxury Tax Central Sales Tax Octroi and Entry Taxes Surcharges levied by the Union Taxes on Lottery, Betting and Gambling Proposed GST will have two components Central GST and State GST. Taxable event will shift to sale rather than manufacture. Exports will be zero rated and will be freed from all duties and taxes. JSW also prepared the list of exempted goods. Certain products or components will be kept out of the GST structure so as taxes by local bodies. Cross utilizati .....

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or branch transfers' on which there could be a levy. Do kindly clarify.Regards,S.Srikanthan - Reply By KASTURI SETHI - The Reply = Taxable event will be on supply and Supply will be defined. It will include Stock transfer, branch transfer. - Reply By KASTURI SETHI - The Reply = Srikanthan S. is right. - Reply By CA Akash Phophalia - The Reply = Respected SirThis is the recommendation given by Joint Working Group as appointed by Empowered Committee. The basic thing which is conveyed is the s .....

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