GST info

GST info is Ultimate source of all Goods and Services Tax related information.

Central government passed GST bill in all states. GST bill approved and goods value changed. New tax ACT applied.

The GST certainly going to be a significant boost to the economy in the medium to long term.

Goods & Services Tax is a multi-stage, destination-based tax that will be levied on every value addition.Currently, the central government levies excise duty , and then the state adds VAT (Value Added tax). Thus customer has to pay more for item.

In 2014, Narendra Modi was elected in a resounding mandate by the people, and with the dissolution of the 15th Lok Sabha, the GST Bill – approved by the standing committee for reintroduction. Seven months after the formation of the Modi government, Finance Minister Arun Jaitley introduced the GST Bill in the Lok Sabha. Finally in August 2016, the Amendment Bill was passed. 18 states ratified the GST Bill and President Pranab Mukherjee gave his assent to it.

A single GST will replace several existing taxes and levies which include: central excise duty, services tax, additional customs duty, surcharges, state-level value added tax and Octroi. Other levies which are currently applicable on inter-state transportation of goods are also likely to be done away with in GST regime.

APP provides detailed information about GST and how it affect our budget. Watch videos of GST rules and regulations. Accurate and simple explanation of GST taxes by us.