GST;GOODS AND SERVICE TAX INTRODUCTION

 INTRODUCTION OF GST;GOODS AND SERVICE TAX.

THERE ARE TWO TAX IN INDIA 

1.INDIRECT TAX 

2.DIRECT TAX.

INDIRECT TAX IMPOSED BY INDIRECTLY

DIRECT TAX IMPOSED BY THE GOVERNMENT DIRECTLY.

INDIRECT TAX-GOODS AND SERVICE TAX

2.DIRECT TAX -INCOME TAX

NOW WE TALK ABOUT INDIRECT TAX GST -INDIRECT TAX GST CONCERN WITH GOODS AND ALL KIND OF SERVICE.

GOODS-ALL THING WHICH WE CAN TOUCH .

SERVICE -ALL THE THING WHICH WE CAN NOT TOUCH.

EXAMPLE 0F GOODS-PURCHASING OF MOVIE TICKETS

EXAMPLE OF SERVICE-YOUTUBE ONLINE TEACHING

ADVANTAGES-GST IS A CONSUMPTION TAX

THERE IS SIMILAR TAX RATE FOR EVERYONE.

NO CONCEPT OF PREVIOUS AND ASSESSMENT YEAR.

GST SLABS-0%,5%,12%,28%(1 JULY 2017)

GST SLABS IN 2020-5%,18%,28%

28% GST -ALL LUXUARY GOODS

1.CAR

2.AUTO MOBILE

THERE ARE FOUR TYPES OF GST

1.CGST-CENTRAL GOODS AND SERVICE TAX

2.SGST-STATE GOODS AND SERVICE TAX

3.IGST -INTERSTATE GOODS AND SERVICE TAX

4.UTGST-UNION TERRITORY GOODS AND SERVICE TAX.