Services

Goods & Services Tax (GST)

“Goods and Services Tax (GST), is an Indirect tax that has replaced various indirect taxes levied at both Central and State level, and has unified them all under one national market across India. It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. It is an indirect levied on the supply of goods and services. Under the GST regime, the tax is levied at every point of sale. In the case of intra-state sales, Central GST and State GST are charged. Inter-state sales are chargeable to Integrated GST.


The most important feature of GST is that it removes the cascading effect on the sale of goods and services. However, GST in a federal structure like India is very complex and faces numerous challenges in its proper implementation. We provide consulting & assistance in proper implementation of GST. We also provide review of the GST implementation done by a company.

Comprehensive

  • GST will subsume all of the current indirect taxes. Plus, by bringing in a unified taxation system, across the country, it will ensure that there is no more arbitrariness in tax rates.

Multi-stage

  • GST is levied each stage in the supply chain, where a transaction takes place.

Value-addition

  • This is the process of addition to the value of a product/ service at each stage of its production, exclusive of initial costs. Under GST, the tax is levied only on the value added.

Central (Duties and Taxes) merged under GST:


  • Central Excise Duty (including Additional Excise Duty)
  • Service Tax
  • Additional Customs Duty
  • Special Additional Duty of Customs
  • Central Surcharges and Cess

State (Duties and Taxes) merged under GST:


  • Value Added Tax (VAT)
  • Central Sales Tax
  • Octroi & Entry Tax
  • Purchase Tax
  • Luxury Tax
  • Taxes on lottery, betting and gambling
  • Entertainment Tax