File your GST Return @ Rs 99 per month only. No hidden charges.
ONLINE GST Return 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. The Act came into effect on 1st July
2017; Goods & Services Tax Law in India is a comprehensive, multi-stage,
destination-based tax that is levied on every value addition.
In simple
words, Goods and Service Tax (GST) is an indirect tax levied on the supply of
goods and services. This law has replaced many indirect tax laws that
previously existed in India.
Under the
GST regime, the tax is levied at every point of sale. In the case of
intra-state sales, Central GST and State GST are charged. Inter-state sales are
chargeable to Integrated GST.
Now let us
try to understand the definition of Goods and Service Tax – “GST is a
comprehensive, multi-stage, destination-based tax that is levied on every value
addition.”
Multi-stage
There are multiple
change-of-hands an item goes through along its supply chain: from
manufacture to final sale to the consumer.
Let us consider the following case:
- Purchase
of raw materials
- Production or
manufacture
- Warehousing of
finished goods
- Sale to
wholesaler
- Sale of the
product to the retailer
- Sale to
the end consumer
Goods and Services Tax Network (GSTN)
The GSTN
software is developed by Infosys Technologies and the Information Technology
network that provides the computing resources is maintained by the NIC.
"Goods and Services Tax" Network (GSTN) is a nonprofit organisation
formed for creating a sophisticated network, accessible to stakeholders,
government and taxpayers to access information from a single source (portal).
The portal is accessible to the Tax authorities for tracking down every
transaction, while taxpayers have the ability of connect for their tax returns.
The GSTN's authorised
capital is ₹10 crore (US$1.4 million) in which initially the Central Government
held 24.5 percent of shares while the state government held 24.5 percent. The
remaining 51 percent were held by non-Government financial institutions, HDFC
and HDFC Bank hold 20%, ICICI Bank holds 10%, NSE Strategic Investment holds
10% and LIC Housing Finance holds 11%.
If you are
looking to pay GST return then I will suggest to you that Advise24 will the
best option for you. Because Advise24 is providing the best GST Return
services in India.
For more details you can visit here:-
For more details you can visit here:-
Comments
Post a Comment