3rd April 2017
With each passing day, tax payers and traders are getting more curious to know how the newly introduced GST (Goods and Service Tax) will affect their business. Actually, the introduction of GST has completely simplified India’s cumbersome indirect taxation calculation – which often led to double taxation of the same products in the past.
As the unified GST will come into force repealing or subsuming all other forms of indirect state and central level taxes, let’s analyze how GST is different from the CST (Central Sales Tax).
From this year onwards, GST will be introduced at all goods and services after the exemption limit. Anyway, GST is expected to bring down the actual cost of goods for the final consumers as it will remove or get merged with lots of indirect taxes.
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