GST stand for Goods Service Taxation started from 1 july 2017.
Prime Minister Narendra Modi launched the Goods and Services Tax (GST),
India’s biggest tax reform in 70 years of independence, at midnight of
30 June 2017. It effects on goods rate. It changed by center and state
Govt. We can purchase things on following tax rate. That is 0%,5%, 12%,
18% and 28%. Minimum rate tax is 0% and Maximum is 28%.
PM Narendra Modi Delivered speech at mid night on the GST in Parliament’s hall in front of Parliment’s member.
Effects of GST
It has proposed to insulate the revenues of the States from the impact of GST, with the expectation that in due course, GST will be levied on petroleum and petroleum products. The central government has assured states of compensation for any revenue loss incurred by them from the date of GST for a period of five years.
GST does not effect on unbranded goods like eggs, milk, vegetables, milk and flour and unpacked products.
Tea, edible oils, sugar, textiles and Kids formula will attract only 5 per cent tax. So rates are decreased related to these items.
According to our point of view it effect on Indian economic situations. It relief poor peoples and money value will be increased. Overall its effect is positive. We also provide information about GST effect on Pathankot people or more Information you can read our next blog.We Provide you rate of product on our next blog.
VIP Studies is only one institute that provide job oriented courses related to GST in Pathankot And accounting courses in Pathankot.
PM Narendra Modi Delivered speech at mid night on the GST in Parliament’s hall in front of Parliment’s member.
Effects of GST
It has proposed to insulate the revenues of the States from the impact of GST, with the expectation that in due course, GST will be levied on petroleum and petroleum products. The central government has assured states of compensation for any revenue loss incurred by them from the date of GST for a period of five years.
GST does not effect on unbranded goods like eggs, milk, vegetables, milk and flour and unpacked products.
Tea, edible oils, sugar, textiles and Kids formula will attract only 5 per cent tax. So rates are decreased related to these items.
According to our point of view it effect on Indian economic situations. It relief poor peoples and money value will be increased. Overall its effect is positive. We also provide information about GST effect on Pathankot people or more Information you can read our next blog.We Provide you rate of product on our next blog.
VIP Studies is only one institute that provide job oriented courses related to GST in Pathankot And accounting courses in Pathankot.
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