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In spite of being a poor country, India’s GST is highest in the world: See what other countries charge

France was the first country to implement GST to reduce tax-evasion. Since then, more than 140 countries have implemented GST with some countries having Dual-GST, for example Brazil and Canada. India has chosen the Canadian model of dual GST as it has a federal structure where the Centre and states have the powers to levy and collect taxes. European countries ...

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GST flops on day 1, system and network crashes, dysfunctional billing system has businessmen worried

    As expected, the first day of the Goods and Services Tax (GST) was marked by utter confusion and chaos for the retailers in the country. While most retailers faced problems in generating invoices through under the new GST systems, those who could, avoided doing so due to confusion over different rates for different products under the so-called “unified ...

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How GST Will Impact Those Who Don’t Pay Taxes?

New Delhi: Rakesh Sachdeva sells auto parts in a busy market in central Delhi, just a few miles from Prime Minister Narendra Modi’s office. Yet despite having a flourishing business he does not pay any tax. Until now, his rundown premises and small scale operation has kept the business below the radar of tax officials. From July 1, however, “the ...

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GST: How Will It Impact You In 10 Points

The new tax system was launched at a function in Central Hall of Parliament on Friday midnight. The historic GST or goods and services tax has become a reality. The new tax system was launched at a function in Central Hall of Parliament on Friday midnight. GST, which embodies the principle of “one nation, one tax, one market” is aimed ...

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GST Impact: How Goods and Services Tax Will Affect Prices of Mobiles, Gadgets, Software, and IT Services

The Goods and Services Tax (GST) will roll out in India on July 1, 2017. This could have a big impact on the prices of smartphones, all other electronic goods, software, and IT services in India. To find out whether the prices of smartphones and other gadgets will rise after GST rolls out in India, we contacted a tax expert. ...

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As GST Rolls Out, What Gets Cheaper And Expensive at a Glance?

NEW DELHI: GST or the Goods and Services Tax, the long-awaited reform with the aim of transforming the nation of 1.2 billion people and its $2 trillion economy into a single market, was launched at midnight. The government promises the new regime will simplify trade by replacing more than a dozen levies with one tax, combat corruption and enrich state ...

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As GST Sets In With Midnight Gong, Twitter Rolls Out Jokes, Memes

NEW DELHI:  As the clock hit midnight, President Pranab Mukherjee and Prime Minister Narendra Modi pressed the button to mark the beginning of India’s biggest tax reform ever – Goods and Services Tax (GST). The new tax regime embodies the principle of “one nation, one tax, one market” and aims to reunite the economy as one common market. Addressing the Central ...

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Cheaper Or Costlier After GST? Here Are Some Price Changes Announced

GST-cheaper-or-costlier

New Delhi: Some of the country’s biggest automakers and retailers announced price cuts as Asia’s third-largest economy switched to a new nationwide sales tax, replacing a host of provincial and national levies. The Goods and Services Tax (GST) unifies the $2 trillion economy and 1.3 billion people into one of the world’s biggest common markets. Hypermarket Big Bazaar, owned by ...

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GST News: Difference between non-taxable “dwelling” and taxed homestays or serviced apartments

GST and home buyers and landlords

  With the roll out of GST in India on July 1, Service Apartments, Homestays, Bed and Breakfast schemes, etc are all taxable if they charge more than Rs 1000/room/day even for non ac accommodation. With a lot of confusion among stake holders, here are some definitions and data on the difference between homestays, service apartments and furnished rental accommodation ...

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