ALL >> Investing---Finance >> View Article
File Gst Returns Online In India@300
Total Articles: 2
GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India.
Under the GST regime, the tax is levied at every point of sale. In the case of intra-state sales, Central GST and State GST are charged. Inter-state sales are chargeable to Integrated GST.
Now let us try to understand the definition of Goods and Service Tax – “GST is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.”
There are multiple change-of-hands an item goes through along its supply chain: from manufacture to final sale to the consumer.
Let us consider the following case:
• Purchase of raw materials
• Production or manufacture
• Warehousing of finished goods
• Sale to wholesaler
• Sale of the product to the retailer
• Sale to the end consumer
Goods and Services Tax Network (GSTN)
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 organisation formed for creating a sophisticated network, accessible to stakeholders, government and taxpayers to access information from a single source (portal). The portal is accessible to the Tax authorities for tracking down every transaction, while taxpayers have the ability of connect for their tax returns.
The GSTN's authorised capital is ₹10 crore (US$1.4 million) in which initially the Central Government held 24.5 percent of shares while the state government held 24.5 percent. The remaining 51 percent were held by non-Government financial institutions, HDFC and HDFC Bank hold 20%, ICICI Bank holds 10%, NSE Strategic Investment holds 10% and LIC Housing Finance holds 11%.
If you are looking to pay GST then I will suggest to you that Advise24 will the best option for you. Because Advise24 is providing the best GST services in India.
Investing / Finance Articles1. Applying For A Loan Over A Direct Two Wheeler Purchase
2. Venezuela Pestle Insights
Author: Aarkstore Market Research
3. How To Find The Best Mortgage Loan Deals To Buy Your Dream Home In Colorado?
Author: Jacob Smith
4. Commonwealth Bank Of Australia Market Research
Author: Aarkstore Market Research
5. Automated Crypto Trading Bot
Author: Nazish Ahmed
6. The Most Effective Method To Invest Money In The Stock Market
Author: Shradhha Jain
7. How To Set Up A High Risk Merchant Account For Your Risky Venture?
Author: Pratik Dharmadhikar
8. What Are The Documents Required For Gold Loan?
9. How To Take A Gold Loan?
10. Andhra Bank Gold Loan
Author: Nikhil Chawla
11. What Are The Advantages Of Gold Loan
12. Debt Counselling: Solution To The Stress And Burden Of Debts
Author: Daniel Stewart
13. What Is Portfolio Management Services?
Author: Investing Capital
14. Free Intraday Tips|free Intraday Call|free Intraday Advice|best Intraday Tips
Author: RAJ BKB
15. Environmentally And Socially Positive Investments