On Wednesday Loksabha gave approval for GST which is applicable from July 1 2017.(Good & Services tax)
Now what a common person will get from GST.
Now what a common person will get from GST.
130 crore of population having 29 states & 7 union territories. Each state having different industries where some are having or some are not having industries.
Administration of India is divided in 3 types 1. Centre 2. State 3. Muncipal.
It is difficult to collect tax from each person so there are Indirect taxes through Industries, Shops, & Businessman. Centre puts a. Excise duty b. custom duty & c. services tax. State puts a. Vat b. Octroi & c. Entertainment . Where municipality puts different local taxes .
It is difficult to collect tax from each person so there are Indirect taxes through Industries, Shops, & Businessman. Centre puts a. Excise duty b. custom duty & c. services tax. State puts a. Vat b. Octroi & c. Entertainment . Where municipality puts different local taxes .
According to a survey transportation rate in India is 200 to 300 Km where it is 500 Km in other countries, because of the different tax structure in every state.
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