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Q.

What is the concept of GST ? will it abolish CST & VAT etc ?

Tags: money, education, entertainment
Asked by joyesh chakraborty, 16 Jan '10 02:26 pm
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Answers (1)

1.

The GST as name suggests is a combined tax at a Uniform rate in lieu of Indirect tax like VAT,CST ,excise etc.except few exception here and there.According to discussion paper ,the main feature of the New GST system is given under.
There will two system one id for Inter State sale that will be Call Centeral GST(CGST) and second is State GST(SGST)
For CGST the following taxes will be subsumed (merged into GST rate)
Central Excise Duty
Additional Excise Duties
The Excise Duty levied under the Medicinal and Toiletries Preparation Act
Service Tax
Additional Customs Duty, commonly known as Countervailing Duty (CVD)
Special Additional Duty of Customs - 4% (SAD)
Surcharges, and ...more
Answered by Pardeep kapoor, 16 Jan '10 02:34 pm

 
  
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