What is GST, GST Registration, GST Return

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 in the picture. It Does means that current taxes like sales, excise, octroi and turnover taxes etc. and it will not be applicable and all that will be falling under the tax that is called GST.

ü  Revenue Incensement: Goods and service tax will replace all seventeen (17) indirect taxes with a single tax and it also Increase in product demand will ultimately increase tax revenue for state and central government and it is a boon for the Indian economy and the common man. It is a really very good step taken by the government absolutely right time.