Transcription of ANote on GST - DCMSME
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ANote on GST - DCMSME
A (Goods&Services Tax) is a single tax on the supply of goods and services,rightfrom the manufacturer to the final consumer will thus bear only the GST chargedby the last dealer in the supply chain,with set-off benefits at all the previous hasbeen envisaged as a more efficient taxsystem, neutral in its application and the Central level, the following taxes will be subsumed:a. Central Excise Duty,b. AdditionalExcise Duty,c. Service Tax,d. Additional Customs Dutycommonly known as Countervailing Duty,and Additional Duty of the State level, the followingtaxes will be subsumed:a. State Value Added Tax/Sales Tax,b. Entertainment Tax (other than the tax levied by the localbodies),Central Sales Tax (levied by the Centre and collected by the States),c. Octroi and Entrytax, d. Purchase Tax, e. Luxury tax, on lottery,betting and in mind the federal structure of India,there will be two components of GST _Central GST (CGST) and State GST (SGST).
ANote on GST 1. GST(Goods& ServicesTax)isasingletax onthesupplyofgoodsandservices,right fromthemanufacturertotheconsumer.ThefinalconsumerwillthusbearonlytheGSTcharged ...
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