Skip to main content


                                       Good and Service Tax


Goods and Services Tax (GST) is consumption-based Tax and depends on the purchasing power of the consumer. The purchasing powers of consumer. The purchasing power of consumer basically depends on employment and employment depends on economy. The tax came into effect from 1st July 2017 through the implementation of the one hundred and first Amendment of the constitution of India by the Indian government. The GST replaced existing multiple taxes levied by the central and state governments. The GST bill, also referred to as the Constitution (121 Amendment) Bill, 2014, it initiates a value added Tax to be implemented on India level. The Goods and Services Tax is an Indirect Tax. It is levied at all stages of production to bring about uniformity in the system.

Objectives of GST

  • Important objective of GST is to create a common market with uniform tax rate in India.

  • To eliminate the Cascading effect of Taxes, GST allows set off of prior taxes for the same transactions as input tax credits.

  • To boost Indian export, the GST already collected on the inputs will be refunded and thus there will be no tax on all exports.

  • To increase the tax base by bringing more number of tax payers and increase tax revenue.

  • To simplify tax return procedures through common form and avoidance of visiting tax departments.

  • To provide online facilities for payment of taxes and submissions of forms.

Types of GST

As per newly implemented tax system, there are 4 different types of GST:

  1. Integrated Goods and Services Tax (IGST)

  2. State Goods and Services Tax (SGST)

  3. Central Goods and Services Tax (CGST)

Additionally, the government has fixed different taxation rates under each, which will be applicable to the payment of Tax for goods and, or services rendered.

Integrated Goods and Services Tax or IGST

The Integrated Goods and Services Tac or IGST is a tax under the GST regime that is applied on the interstate supply of goods and services as well as on imports and exports. The IGST is governed by the IGST Act, Under IGST, the body responsible for collecting the tax is the Central Government. 

State Goods and Services Tax or SGST

The state Goods and services Tax or SGST is a Tax under the GST regime that is applicable on intrastate transaction. The revenue earned through SGST is soley claimed by the respective State Government. 

Central Good and Services Tax or CGST

Just like state GST, the central goods and services is a tax under the GST regime that is applicable on intrastate transactions. The CGST is governed is governed by the CGST Act.

Union Territory Goods and Services Tax or UTGST

The Union Territory Goods and Services Tax or UTGST is the counterpart of state goods and services Tax which is levied on the supply of good and/ or services in the Union Territories (UTS) of India. The UTGST is governed by the UTGST Act.


The Main objective of the government is to bring India in an umbrella of one tax promoting the “One Nation one Tax” system. With the imposition of GST was a big task in a country like India. In this system, where new changes are not easily accepted. It was a very complicated system to understand at first but later it is coming out as a long term benefit for the country. There is the various sectoral impact of goods and services Tax. It is excepted that there is an expectation of the growth of the Indian Gross Domestic Product (GDP).


Popular posts from this blog

INCOME TAX SECTION 32AD - Investment in new plant or machinery in notified backward areas in certain States

 Description (1) Where an assessee, sets up an undertaking or enterprise for manufacture or production of any article or thing, on or after the 1st day of April, 2015 in any backward area notified by the Central Government in this behalf, in the State of Andhra Pradesh or in the State of Bihar or in the State of Telangana or in the State of West Bengal, and acquires and installs any new asset for the purposes of the said undertaking or enterprise during the period beginning on the 1st day of April, 2015 and ending before the 1st day of April, 2020 in the said backward area, then, there shall be allowed a deduction of a sum equal to fifteen per cent of the actual cost of such new asset for the assessment year relevant to the previous year in which such new asset is installed. (2) If any new asset acquired and installed by the assessee is sold or otherwise transferred, except in connection with the amalgamation or demerger or re-organisation of business referred to in clause (xiii)or cla

60 Minute Marriage Counselling Session On Phone

Description A 60 minute phone call with an expert Marriage\Relationship Counselor to discuss your marriage\relationship related issues. Counselling aims to resolve issues and improve communication in a relationship. Couples’ counselling works with both people in the relationship, however sessions can start with one individual, working towards the involvement of the other partner. What's Included a) 60 minute phone call with the counselor where you can discuss all your issues and seek guidance. What's Not Included a) Counselling session via meeting

Send Legal Notice for Divorce

 India being a secular country derives a large part of its laws from various religious practices. One such area of law is Divorce law of India. A divorce case in India can be initiated by either party based on the procedure relevant as per the law applicable to the parties. However, the procedure for divorce always starts with sending a legal notice.   Either party can send a legal notice to the other spouse intimating his/her intent to initiate legal proceedings for divorce. Sending a legal notice acts as a formal way of communication by one party to the other acting as a warning and at the same time creating chances for a last attempt for conciliation, if possible. Connect with an expert lawyer for your legal issue   What is a legal notice for divorce? A legal notice refers to a formal communication to a person or the opposite party in a case, informing him/her about one’s intention to undertake legal proceedings against him/her. Therefore, a legal notice for divorce is a formal inti