Category: GST Knowledge Portal

Topic Name – Which authority will levy and administer GST Centre will levy and administer CGST & IGST while respective states /UTs will levy and administer SGST/UTGST               About Bihar Tax Consultant – Bihar Tax Consultant is among the best and experienced tax consultant in Bihar. Having the years […]

Topic Name – Why is Dual GST required India is a federal country where both the Centre and the States have been assigned the powers to levy and collect taxes through appropriate legislation. Both the levels of Government have distinct responsibilities to perform according to the division of powers prescribed in the Constitution for which […]

Topic Name – What type of GST is proposed to be implemented It would be a dual GST with the Centre and States simultaneously levying it on a common tax base. The GST to be levied by the Centre on intra-State supply of goods and / or services would be called the Central GST (CGST) […]

Topic Name – What will be status of Tobacco and Tobacco products under the GST regime Tobacco and tobacco products would be subject to GST. In addition, the Centre would have the power to levy Central Excise duty on these products. The tobacco industry is shining , despite the serious warning that smoking and tobacco […]

Topic Name – What will be the status in respect of taxation of above commodities after introduction of GST The existing taxation system (VAT & Central Excise) will continue in respect of the above commodities.                     About Bihar Tax Consultant – Bihar Tax Consultant is among […]

Topic Name – Which are the commodities proposed to be kept outside the purview of GST   Article 366(12A) of the Constitution as amended by 101st Constitutional Amendment Act, 2016 defines the Goods and Services tax (GST) as a tax on supply of goods or services or both, except supply of alcoholic liquor for human […]

Topic Name – What principles were adopted for subsuming the above taxes under GST   The various Central, State and Local levies were examined to identify their possibility of being subsumed under GST. While identifying, the following principles were kept in mind: (i) Taxes or levies to be subsumed should be primarily in the nature […]

Topic Name – Which of the existing taxes are proposed to be subsumed under GST   The GST would replace the following taxes- Taxes currently levied and collected by the Centre: a. Central Excise duty b. Duties of Excise (Medicinal and Toilet Preparations) c. Additional Duties of Excise (Goods of Special Importance) d. Additional Duties […]

Topic Name – What exactly is the concept of destination based tax on consumption   The tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply. For Example . Mr. A is a supplier of goods registered in the State of Jharkhand  […]

Topic Name – What is Goods and Services Tax (GST)   It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value […]