With the GST rollout, here are some basic things you need to know about GST
WHAT IS GST?
GST is a value added tax at each stage of the supply of the goods and services on the amount of value addition archived.
THINGS THAT WILL GET COSTLIER
THINGS THAT WILL GET CHEAPER
WHO ARE LIABLE TO PAY GST?
Businesses and traders with annual sales with above Rs 20 lakh are liable to pay GST
PRODUCTS THAT ARE NOT A PART OF GST
*Crude Oil, Diesel, Petrol, Natural Gas, and Jet fuel are temporarily kept out of GST
*Liquor is kept out of GST as a constitutional provision
WHAT IS INTEGRATED GST OR IGST?
Tax on interstate supply of Goods and Services with central and state government components
Tags : GST
