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Service
GST
Goods and Services Tax (GST) is an [indirect tax] (or [consumption tax]) imposed in [India] on the supply of goods and services. It is a comprehensive multistage, destination based tax: comprehensive because it has subsumed almost all the indirect taxes except few; multi-staged as it is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination based tax, as it is collected from point of consumption and not point of origin like previous taxes.
Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%.
Advantages
`government
Will help to create a unified common national market for India, giving a boost to foreign investment and “Make in India” campaign.
Trade and Industry
Will mitigate cascading of taxes as Input Tax Credit will be available across goods and services at every stage of supply.
Consumers
Final price of goods is expected to be transparent due to seamless flow of input tax credit between the manufacturer, retailer and service supplier.
States
Improved Compliance levels of the tax payers will contribute greatly in improving the revenue collection of the States.
Service FAQ’s
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How advisors prototype the Financial Analysis?
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