Topic Name – What is the guiding principle of GST Council The mechanism of GST Council would ensure harmonization on different aspects of GST between the Centre and the States as well as among States. It has been provided in the constitution  ( one hundred and first amendment) Act, 2016 that the GST Council, in […]

Topic Name – What would be the role of GST Council A GST Council would be constituted comprising the Union Finance Minister (who will be the Chairman of the Council), the Minister of State (Revenue) and the State Finance/Taxation Ministers to make recommendations to the Union and the States on (i) the taxes, cesses and […]

Topic Name – Who will decide rates for levy of GST The CGST and SGST would be levied at rates to be jointly decided by the Centre and States. The rates would be notified on the recommendations of the GST Council.           About Bihar Tax Consultant – Bihar Tax Consultant is […]

Topic Name – What is IGST   Under the GST regime, an Integrated GST (IGST) would be levied and collected by the Centre on inter-State supply of goods and services. Under Article 269A of the Constitution, the GST on supplies in the course of interstate trade or commerce shall be levied and collected by the […]

Topic Name – What are the benefits which the Country will accrue from GST   Introduction of GST would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax and allowing set-off of prior-stage taxes, it would […]

Topic Name – How a particular transaction of goods and services would be taxed simultaneously under Central GST (CGST) and State GST (SGST)   The Central GST and the State GST would be levied simultaneously on every transaction of supply of goods and services except the exempted goods and services, goods which are outside the […]

Topic Name –  Why was the Constitution of India amended recently in the context of GST Currently, the fiscal powers between the Centre and the States are clearly demarcated in the Constitution with almost no overlap between the respective domains. The Centre has the powers to levy tax on the manufacture of goods (except alcoholic […]

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) […]