The GST Mitra

What is GST? The newly introduced tax which is called GST or Goods and service tax is an indirect tax levied in India on the supply of goods and services and this tax and it is levied at every step in the production process but it means to be refunded to all parties in the various stages of production other than the final consumer. GDT is an indirect tax which is levied on goods as well as services and all the existing state and central indirect taxes are subsumed under the GST . Good And Service Tax (GST) is applicable throughout the country (except Jammu and Kashmir) and it is also referred to as “One Nation One Tax”. A single product is taxed at the same rate in every corner of the country except Jammu & Kashmir this system under. Benefits of GST!                There are some important benefits of GST ü   Elimination of Multiple Taxes: One of the biggest benefits of GST is it eliminates multiple indirect taxes and all the taxes which currently exist will not be i

Goods & Services Tax updated News GST (Goods & Services Tax) for medical college. It should not sound any bizarre. It is and it has been paid for the upcoming medical college in Palamu. According to the principal of the medical college Palamu H K Singh “The Government has paid `54,000 as GST for an inspection fee worth `3 lakh for Medical Council Of India on whose receipt of 3.54 lakh only then the Medical Council of India sent its three member team here in the mid week of December last year, which carried out intensive inspection for two days here.” Singh said, “This 3 lakh is the mandatory fee for inspection by Medical Council of India on which comes 18 per cent of the GST.” The 120 bed Sadar hospital in Daltonganj has been attached to this medical college. Ground floor and first floor of the three wings of the upcoming Medical College at Pokhraha about 12 Kms away from Daltonganj in Palamu district are ‘ready for occupancy’ said the project in-charge Amit Bhowmik.

Cement rate cut to 18% on the agenda of GST meet GST Council will consider a proposal to slash the tax on cement to 18 per cent from 28 per cent at its meeting next week along with a ministerial panel report that proposes a cut in rates in under-construction properties, including affordable homes. A rate cut in cement to 18 per cent will lead to a loss of Rs 13,000 crore annually to the government. The Narendra Modi-government is keen to ensure the GST cut actually benefits the end users in terms of lower prices as the Lok Sabha elections loom. Officials said the GST cut in cement and the panel report were on the agenda of the GST Council meeting on February 20. The Cement Manufacturers Association had been pitching for a cut in the GST to 18 per cent as it would boost infrastructure spending and create jobs, while reducing the costs of buying a house. While cutting the rates, the council could come out with some guidelines to ensure the manufacturers pass on the benefits

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