About GST: It is Goods and Services Tax.
The Goods and Services Tax (GST) is an indirect tax. It launched by the President and Prime Minister of India.
And introduced on 1 July 2017 in India. The official gst portal online is for gst payment.
GST replaced multiple taxes levied by the state & central governments. It introduced as the 101 Constitution Acts 2017.
And following of Constitution 122nd Amendment Act Bill. GST governed by the GST Council.
The chairman is the Indian Finance Minister.
Rates under GST are 0%, 5%, 12%, 18% and 28%.
There are some special rates on rough precious and semi-precious stones.
3% rate is also on gold. In addition, 22% of cess or other rate applies on few items.
The items are drinks, luxury car, tobacco products etc.
Evolution of GST in India
The idea of a GST first mooted 16 years back. And the man behind it is Shri Atal Bihari Vajpayee.
Thereafter, in 2006, the Union Finance Minister proposed it. He proposed for implementing from 1st April 2010.
The State Finance Ministers EC formulated the design of State VAT. It comes up with a layout and structure for the GST.
By State legislatures and assent of the President it approved. The amendment notified as 101st Amendment Act on 8th September 2016.
The amendment paved way for introduction of GST in India. After approval of GST Council the bill passed.
The bill passed by the Lok Sabha on 29th March, 2017. CGST Bill and the IGST Bill 2017.
UTGST Bill and the GST (Compensation to the States) Bill 2017 . The Rajya Sabha passed the Bills on 6th April 2017.
It enacted as acts on 12th April 2017.
Thereafter, State Legislatures of different States have passed it.
The various modes GST laws, it launched with effect from 1st July 2017.
It launched by Indian PM Narendra Modi, in the presence of the President.
GST Council structure
According to the article 279-A amended it is as follow:
|Union Finance Minister||Chairperson|
|State Union Minister, Revenue incharge, Minister of Finance||Member|
|The Minister Incharge of Finance/ Taxation / any other Minister nominated by each State Government||Members|
- GST Council is a type of joint forum of the Centre and the States.
- It consists of the following members:
- The taxes, surcharges and cesses levied by the Union (States & local bodies).
- Goods & services is a subject or exempted from the goods & services tax.
- The laws, principles, Integrated GST.
- If turnover below threshold limit may exempted from tax.
- The rates having floor rates with bands of the tax.
- Any special rates need raise additional resources in any disaster.
- special provision for states below:-
- Arunachal Pradesh.
- Jammu and Kashmir.
- Himachal Pradesh.
- The date on which GST shall levied such as:
- On petroleum crude,
- High speed diesel,
- Natural gas and aviation turbine fuel.
- Motor spirit (petrol),
- Any other matter relating to the tax, as the Council may decide.
- The mechanism of GST Council would balance taxes.
- It balances between the Centre and the States.
- The Union Cabinet settled up of GST Council and creation as follows:
- It act as per article 279-A of the amended Constitution;
- The Council work with its office at New Delhi;
- Revenue Sec. as Ex-officio Secretary of the Council;
- Inclusion of the Chairperson, Excise & Customs Central Board (CBEC).
- One post of Additional Secretary.
- 4 posts of commissioner in the GST Council.
- The Cabinet decided to provide funds for meeting.
- It shall be borne by the Central Government.
Taxation System- Tax Subsumed
- The single goods and service taxes replaced several taxes.
- It included:
- Central excise duty.
- Additional customs duty.
- services tax,
- Value added tax (state-level) etc.
- Other levies include on inter-state transpor of services or goods.
- GST levy include all transactions follows:
- Import of Goods & services
- The council adopted a dual GST model of tax.
- The taxation administered by Union and State Govt. both.
- Transactions within a single state make levy with CGST & SGST.
- For inter-state transactions an Integrated GST levy by the CG.
- It is consumption or destination based tax.
- Therefore, the tax paid to the state where the goods or services consumed.
- It is not paid to the state in which they produced.
Goods and Services Tax Network (GSTN)
- As per the govt. website, “Goods and Services Tax Network (GSTN)” is available.
- All the information, you can check on www.gst.gov.in portal.
- It is a nonprofit union, creating a platform for user awareness.
- By gst.gov.in portal login and gst.gov.in registration can pay tax.
- So, gst site is for online apply for gst registration.
- The gst.gov.in registration form is available at gst common portal.
- Also you can check ARN status on this portal.
GST- HSN code
- Harmonized System of Nomenclature (HSN) is an 8-digit code.
- It is for identifying the applicable rates on different products.
- if turnover of a company is upto RS. 1.5 Cr. Then, HSN code not needed.
- if turnover is between 1.5 Cr to 5 Cr then, need 2 digit HSN code.
- In case, turnover above 5 Cr. Then, need 4 digits HSN code on invoices.
You can contact for queries related to gst registration.
You can contact for new registration information or any gst seva.
- Help Desk Number: 0120-4888999.
- GSTportal/ gst registration online/ gst login website: gov.in