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Badrinath Patel
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  1. This answer was edited.

    There are certain supplied notified under GST Act, where the recipient of the supply has to pay tax instead of the supplier. Section 9(3), 9(4) have been notified for Reverse charge under GST Act.

    There are certain supplied notified under GST Act, where the recipient of the supply has to pay tax instead of the supplier. Section 9(3), 9(4) have been notified for Reverse charge under GST Act.

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Badrinath Patel
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  1. Introduction of the GST would make our products competitive in the domestic and international markets. Studies show that this would instantly spur the economic growth. There may also be revenue gain for the Centre and the States (UT) due to widening of the tax base, increase in trade volumes and impRead more

    Introduction of the GST would make our products competitive in the domestic and international markets. Studies show that this would instantly spur the economic growth. There may also be revenue gain for the Centre and the States (UT) due to widening of the tax base, increase in trade volumes and improved tax compliance.

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Badrinath Patel
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  1. The different slabs for GST are 5%, 12%, 18% and 28%. GST calculation can be explained by simple illustration : If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs.1180

    The different slabs for GST are 5%, 12%, 18% and 28%. GST calculation can be explained by simple illustration : If a goods or services is sold at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs.1180

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Badrinath Patel
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  1. This answer was edited.

    The different slabs for the GST are 5%, 12%, 18% and 28%. GST calculation can be explained by simple illustration : If goods or services are supplied at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs.1180 The benefits ofRead more

    The different slabs for the GST are 5%, 12%, 18% and 28%. GST calculation can be explained by simple illustration : If goods or services are supplied at Rs. 1,000 and the GST rate applicable is 18%, then the net price calculated will be = 1,000+ (1,000X(18/100)) = 1,000+180 = Rs.1180
    The benefits of the GST legislation will be in uniformity of laws across the board, greater transparency, neutrality in the tax rates on various products; credit availability on the interstate purchases and reduction in compliance requirements. If GST is implemented as is intended, it will have many positive impact for the stakeholders and will lead to a better tax environment.

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