WebThe Goods and Services Tax (GST) came into existance on July 1, 2024 in India. GST is paid by the users in the transaction system where the total cost of the product and profit is added and based on the total amount, the tax is calculated. we are aiming to create a web application for computing and WebJul 18, 2024 · GST rates on medical items like ostomy and orthopaedic appliances - splints and other fracture appliances, artificial parts of the body, other appliances which are …
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WebGST Council. In order to implement GST, Constitutional (122nd Amendment) Bill (CAB for short) was introduced in the Parliament and passed by Rajya Sabha on 03rd August, … Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and services. GST is a digitalized form of VAT where you can also track the goods & services. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive … See more Formation The reform of India's indirect tax regime was started in 1986 by Vishwanath Pratap Singh, Finance Minister in Rajiv Gandhi’s government, with the introduction of the Modified Value … See more Revenue earned from GST (intra state transaction - seller and buyer both are located in same state) is shared equally on 50-50 basis between central and respective state governments. … See more The GSTN software is developed by Infosys Technologies and the Information Technology network that provides the computing resources is maintained by the NIC. "Goods and Services Tax Network" (GSTN) is a nonprofit organization formed for creating a … See more Technicalities of GST implementation in India have been criticized by global financial institutions/industries, sections of Indian media, and … See more Taxes subsumed The single GST subsumed several taxes and levies, which included central excise duty, services tax, additional customs duty, surcharges, state-level value added tax and Octroi. Other levies which were applicable on inter-state … See more GST Council is the governing body of GST having 33 members, out of which 2 members are of centre and 31 members are from 28 state and 3 Union territories with Legislature. The council contains the following members (a) Union Finance Minister (as … See more Goods and Services Tax (India) Revenue Statistics Revenue collections Statistical Details of GST Revenue Collected Returns Statistical Details of GST Returns filed See more infamous paper trail sign up
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WebSep 21, 2024 · now if v r selling goods with amount of Rs.10000.00 (ten thous.) then GST 5% will be 500.00 Rs. total amout will be 10500/ on that TCS will be + 07.87 i.e 8 Rs total amount receivable is 10508/- now purchaser making payment with cash discount 2% i.e 10298.00 in case v giving credit note on GST discount can it possible credit note on TCS. WebFeb 7, 2024 · Generation-Skipping Transfer Tax - GSTT: A tax incurred when there is a transfer of property by gift or inheritance to a beneficiary who is more than 37.5 years younger than the donor. Generation ... WebJan 19, 2024 · This will aid not only in augmenting already buoyant month-on-month GST revenues but also reduce the administrative burden of GST officers in undertaking lengthy enquiries or assessments. ETCFO. January 19, 2024, 18:06 IST. Gunjan Prabhakaran Partner, and Leader- Indirect Tax, BDO India. By: Gunjan Prabhakaran. infamous paper trail login