Goods and Services Tax in India – The Test
Learn the basics of GST in India with this beginner-friendly course. Understand the CGST Act, IGST Act, and other allied laws. Start your GST journey today!
GST is an indirect tax which has replaced many indirect taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017. Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is a single domestic indirect tax law for the entire country.
An item goes through multiple change-of-hands along its supply chain: Starting from manufacture until the final sale to the consumer.
Let us consider the following stages:
· Purchase of raw materials
· Production or manufacture
· Warehousing of finished goods
· Selling to wholesalers
· Sale of the product to the retailers
· Selling to the end consumers
This system is implemented with a view to ensure implementation of One Nation, One Tax; Abide Tax GST; curbing Tax Evasion; increasing Tax Base, with online procedures and policies from GST. This course can be a great helping hand for people who are about to start their journey with GST. You need to have an understanding of the Statute like CGST Act, IGST Act and other allied laws. However, this course is a beginner friendly one too.
Who this course is for:
- This course can be a great helping hand for people who are about to start their journey with GST.
User Reviews
Be the first to review “Goods and Services Tax in India – The Test”
You must be logged in to post a review.
There are no reviews yet.