Understanding GST (Part I)…

The countdown to the implementation of Goods and Services Tax (GST) has begun with Bihar becoming the second state to clear State GST (SGST) bill today after Telangana. The Parliament has already passed the centre GST (CGST) and Inter-state GST (IGST) late last month. A look at the bill and various complexities attached to it.. GST … Continue reading Understanding GST (Part I)…
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Understanding GST – Part III..

The finalisation of tax rates by the GST Council yesterday marks probably the most critical milestone towards implementation of GST. Contrary to apprehension of deadlock, decision over tax rates turned out to be relatively smooth with a pragmatic give-and-take approach adopted by both Centre and the states. The decision also paves the way for passage … Continue reading Understanding GST – Part III..
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Goods & Service Tax – Part II

GST will have two components – Central GST and State GST and would be collected separately by Centre and State. Each item would be subject to both the taxes barring exempted categories and the seller would have to file separate online returns. For goods moving from one state to another, the originating state would reimburse the SGST … Continue reading Goods & Service Tax – Part II
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