GST- good and service tax

GST came in India. What is GST? Who is that working? If you have a small start up or you have a shop then you should have to know what is GST? Otherwise if you are living only in India then also you have to know what is this? How much you paying GST when you purchasing your needs things? So today we going to discuss about GST.

good and services tax (India)

Before we know about GST first we have to know that how much and which type of tax we are paying to government.

At the time we are paying to government three type of taxes.

1.      Direct Taxes – in this tax under coming three type of taxes Income Tax, Capital Gain Tax, securities Transaction tax, Perquisite Tax, Corporate Tax.

2.    Indirect Tax – if we are purchasing anything that time we are paying that tax is known as Indirect Tax. In this category that type taxes are coming Sales Tax, Service Tax, Value Added Taxes, Custom duty & Octroi (on goods), Excise Duty. Indirect Taxes is also dividing in tow category is that half Tax is gone to Central government and half is gone to state government it means state government’s bank account is fill by only our Indirect Taxes and also from that few percentage is taking central government.

3.    Regular need tax – in this category we are paying like that taxes electricity tax, water tax, toll tax, and other type of taxes that is using in our daily routine. 

   

So they collect all indirect taxes and they made a tax GST (Good& Service Tax )  for not have to pay single-single taxes. GST also divided in three category CGST, SGST, IGST. CGST means it share will gone to central government, SGST means it share will gone to state government and IGST you can say inter State tax like if a product will going from one state to another state that have to pay IGST.

As a consumer we have to pay only one tax GST and it will automatically divided in all parts in that few parts will gone to central government and few part will gone to State government.

In that following sowing that taxes there have to pay zero taxes.

Fresh meat Fish, chicken	Salt Bindi
Eggs,  milk	Sindoor
Butter	Stamps
Milk, curd	Judicial Papers
Natural honey	Printed Books
Fresh fruits and	News paper
Vegetable	Bangles ,Etc

     In that’s good you have to no paid any taxes and following services there not have to paid any taxes.

Hotels and lodges with tariff with tariff below Rs. 1,000 Grandfathering services has been exampled under GST.

              

In under 5% taxes these following good things are coming

Fish Fillet	Pizza
Cream,	Rusk
Skimmed Milk	Sabudana
Powder	Kerosne
Branded Paneer	Coal
Frozen	Medicines
Vegetables	Stent
Coffee	Lifeboats Etc.

In under 5% taxes these following services things are coming

Transport services ( Railways, air transport), small restaurants will be under 5% category because their mean input is petroleum, which is outside GST ambit.

In under 12% taxes these following goods things are coming.

Frozen Meat	Ayurvedic
Products	Tooth power
Butter	Books
Cheese	Umbrella
Ghee	Sewing
Frozen	Medicines
Dry fruits	Stent
Animal Fat	Machine, Etc.

In under 12% taxes these following services things are coming.

None Ac Hotels. Business class Air ticket Fertilisers Work contracts

In under 18% taxes these following goods things are coming.

Sugar	Mineral water
Pasta	Mixes
Cakes	Printed
Jams	Note Books
Ice cr0eams	Instant food, Etc.

In under 18s% taxes these following services things are coming.

Ac Hotels room Telecom services IT Services Branded Garments and financial Services

In under 28% taxes these following goods things are coming.

Chewing gum	Paint
Sunscreen	Pan Masala
Vacuum clear	Hair shampoo
Auto mobiles	Dye
Wallpaper	Washing machine
Dishwasher	ATM
Aerated water	Water heater
Molasses	Air craft, Etc.

In under 12% taxes these following services things are coming.

5-star hotels Race Club Betting, Cinema

There is not written all things all 1211 things are coming under GST few are written there from related that. This divided because in all over India one flat tax is paying now from any state you will bought anything tax you have to pay same.

 Who has to take GST?

Now you will say I have a small shop then also I have also take GST the answer is maybe you have to take if your financial year (April to March) income is more or equal to twenty lakh then you have to take GST other you have to not take GST. If you are sending your product one state to another state or you doing your business in e-commerce site then also you have to take GST it doesn’t matter that your income is more or less then 20 lakh.