Despite of many suspicions and dilemma among the general public whether GST will be launched or not, it has finally been rolled out. GST is already a week old now and the transition into GST seems smooth. The “GST weather” suggests “clear sky” for at least few days to come but the “Tsunami of GST … Continue reading Returns under GST “Who?”, “When?” & “What?” Analysis
Cascading Effect of Taxation Cascading effect of taxation is one of the major problems in the current indirect-taxation regime. It can be simply understood as tax-on-tax. One of the primary goals of any taxation regime is to avoid “taxation over taxes”. Tax-on-tax inflates the price of the goods or services, the burden of which is … Continue reading Cascading Effect under Current Tax Regime v/s GST
A. What is GST? Goods and Service Tax (GST) is a destination based tax which will be implemented from 1st July, 2017. It is one indirect tax for the whole of India which will make it one unified common market. It is levied at the time of consumption of goods or services by the ultimate consumer. After … Continue reading What is GST? & How does it work?