The history of tax reforms in India dates back to 1985, when the then government had announced the Long Term Fiscal Policy. The MODVAT laws – which were the indirect tax laws we were following till 2017 – were introduced in 1986. And then, almost thirty one years later, in 2017, the GST (Goods and …
GST, a one-tax system that was introduced in the last year, was a complex tax system that was understood by few. The previous articles have made it easier to breakdown the GST into simpler terms. One of the fundamental features of GST is Input Tax Credit. There is a seamless flow of input credit across …
What is GST? GST stands for Goods and Services Tax. GST is imposed on value added goods and services that are sold for domestic consumption. GST has replaced many indirect taxes in our nation. It was enforced on 29th March, 2017 and came into effect on 1st July 2017.GST is paid by the consumers but is remitted (to the government) by …
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GST, One Nation One Tax system created a Taxation history on July 1st, 2017. Albeit making Businessmen to stop evading taxes, post – GST era has created inconvenience for them. The growing compliance burdens, technical jargons and information asymmetry related to filing and returns has created a nexus for people to file, register and adhere to the rules of GST Law. The Complex procedures, process and perplexing rules has pushed the businesspersons and Small-scale enterprises down the rabbit hole. If you are among them, then we at myGSTzone will help answer all your queries regarding the rules, registration and filing returns of GST.
