GST IN INDIA- AN INTRODUCTION FOR CA INTER STUDENTS


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GST in pearl CA College give our students, and focus on CA INTER students. The basic knowledge they need to know is that Tax. Tax is nothing but money that people have to pay to the government, which is used to provide public service. Taxes are broadly classified into Direct tax and Indirect tax. Direct tax is which Imposed on a person’s Income and paid directly to the government by the person on whom it is imposed. And its burden cannot be shifted by the tax payer to someone else and indirect tax which are imposed on Goods and Service. 
The immediate liability to pay is of suppliers but its burden is transferred to the ultimate consumers of such goods and service. Here, we are specifying some features of indirect tax.
1. An important source of revenue 2. Tax on Commodities and services.  3. Shifting of burden 4. No perception of direct pinch 5. Inflationary 6. Wider tax base 6.Promotes social welfare 7. Regressive in nature
The genesis of GST in India,  It has how been more than a decade since the idea of National Goods and Service Tax was mooted by Kalkar Task Force in 2004. The task force strongly recommended fully integrated GST on National basis. India has adopted Dual GST model.
The concept of GST is that, GST is a value added tax levied on manufacture, sale and consumption of good and service. GST offers comprehensive and continuous chain of tax credit from producers point or service providers up to the retailers/ consumer level there by taxing only the value added at each stage of supply chain.
If you are interested to know about GST INTER classes provided by Pearl CA college, Just Contact us for more details and queries related to this.

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