Why was the Constitution of India amended recently in the context of GST?
Currently, the fiscal powers between the Centre and the States are clearly demarcated in the Cons…
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What will be the status in respect of taxation of above commodities after introduction of GST?
The existing taxation system (VAT & Central Excise) will continue in respect of the above comm…
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Why is Dual GST required?
India is a federal country where both the Centre and the States have been assigned the powers to …
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Which are the commodities proposed to be kept outside the purview of GST?
Alcohol for human consumption, Petroleum Products viz. petroleum crude, motor spirit (petrol), hi…
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What type of GST is proposed to be implemented?
It would be a dual GST with the Centre and States simultaneously levying it on a common tax base.…
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What principles were adopted for subsuming the above taxes under GST?
The various Central, State and Local levies were examined to identify their possibility of being …
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Which of the existing taxes are proposed to be subsumed under GST?
The GST would replace the following taxes: (i) taxes currently levied and collected by the Centr…
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What will be status of Tobacco and Tobacco products under the GST regime?
Tobacco and tobacco products would be subject to GST. In addition, the Centre would have the powe…
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What exactly is the concept of destination based tax on consumption?
The tax would accrue to the taxing authority which has jurisdiction over the place of consumption…
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Which authority will levy and administer GST?
Centre will levy and administer CGST & IGST while respective states will levy and administer …
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What is Goods and Service Tax (GST)?
It is a destination based tax on consumption of goods and services. It is proposed to be lev…
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How a particular transaction of goods and services would be taxed simultaneously under Central GST (CGST) and State GST (SGST)?
The Central GST and the State GST would be levied simultaneously on every transaction of supply…
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What would be the role of GST Council?
A GST Council would be constituted comprising them Union Finance Minister (who will be the Chairm…
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Who will decide rates for levy of GST?
The CGST and SGST would be levied at rates to be jointly decided by the Centre and States. The …
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What are the benefits which the Country will accrue from GST?
Introduction of GST would be a very significant step in the field of indirect tax reforms in Ind…
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What is IGST?
Under the GST regime, an Integrated GST (IGST) would be levied and collected by the Centre on in…
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