anil wrote:

Gulshan Kumar Ajmani wrote:

anil wrote:

Gulshan Kumar Ajmani wrote:

The constitution amendment bill has been passed in parliament. after getting assent from President, the bill has to be ratified by state assemblies also. After that a GST council with representatives from center and states will be formed. The council will decide the GST rates and propose  model GST Act/ rules.  We shall be in complete picture about GST only when the ACt and rules are framed. 

However, GST is not a single tax as is being misunderstood. There will be CGST that will subsume central excise, import duty, CVD etc. The SGST will subsume the state taxes like VAT, Octroi, entertainment tax etc.

Moreover, Petroleum products and Alcohol for human consumption will not be in GST net.  Also instead of single rate, states may be given band width- lower and upper limit within whjich they may fix rate. 

Tell Gulshan Ji why petroleum products and Alcohol will not in GST. My city is adjoining Punjab border. Petroleum products and alcohol is cheeper their. So many person here doing illegal business of these.

I have simply mentioned the position. I cannot comment on why Petroleum, alcohol for human consumption and some other products are being kept out of GST. But I feel that petroleum products should be in GST. Transportation cost including tax on petroleum products enters almost every product and service and so such exclusion will not be appropriate. Possibly, petroleum products could be brought in GST net later.

I am agree with you, tax rate on petroleum product must be  equal in whole country.

Not only Petroleum, but everything taxable is Uniform all over the Country. That's why GST is called appropriately, " One Country, One Tax."

However, GST Bill will be taken up by Lok Sabha today, with virtually all political Parties backing this legislation. After discussions, it will be clear, the advantages and disadvantages of GST.

rambabu wrote:

anil wrote:

Gulshan Kumar Ajmani wrote:

anil wrote:

Gulshan Kumar Ajmani wrote:

The constitution amendment bill has been passed in parliament. after getting assent from President, the bill has to be ratified by state assemblies also. After that a GST council with representatives from center and states will be formed. The council will decide the GST rates and propose  model GST Act/ rules.  We shall be in complete picture about GST only when the ACt and rules are framed. 

However, GST is not a single tax as is being misunderstood. There will be CGST that will subsume central excise, import duty, CVD etc. The SGST will subsume the state taxes like VAT, Octroi, entertainment tax etc.

Moreover, Petroleum products and Alcohol for human consumption will not be in GST net.  Also instead of single rate, states may be given band width- lower and upper limit within whjich they may fix rate. 

Tell Gulshan Ji why petroleum products and Alcohol will not in GST. My city is adjoining Punjab border. Petroleum products and alcohol is cheeper their. So many person here doing illegal business of these.

I have simply mentioned the position. I cannot comment on why Petroleum, alcohol for human consumption and some other products are being kept out of GST. But I feel that petroleum products should be in GST. Transportation cost including tax on petroleum products enters almost every product and service and so such exclusion will not be appropriate. Possibly, petroleum products could be brought in GST net later.

I am agree with you, tax rate on petroleum product must be  equal in whole country.

Not only Petroleum, but everything taxable is Uniform all over the Country. That's why GST is called appropriately, " One Country, One Tax."

However, GST Bill will be taken up by Lok Sabha today, with virtually all political Parties backing this legislation. After discussions, it will be clear, the advantages and disadvantages of GST.

anil wrote:

rambabu wrote:

anil wrote:

Gulshan Kumar Ajmani wrote:

anil wrote:

Gulshan Kumar Ajmani wrote:

The constitution amendment bill has been passed in parliament. after getting assent from President, the bill has to be ratified by state assemblies also. After that a GST council with representatives from center and states will be formed. The council will decide the GST rates and propose  model GST Act/ rules.  We shall be in complete picture about GST only when the ACt and rules are framed. 

However, GST is not a single tax as is being misunderstood. There will be CGST that will subsume central excise, import duty, CVD etc. The SGST will subsume the state taxes like VAT, Octroi, entertainment tax etc.

Moreover, Petroleum products and Alcohol for human consumption will not be in GST net.  Also instead of single rate, states may be given band width- lower and upper limit within whjich they may fix rate. 

Tell Gulshan Ji why petroleum products and Alcohol will not in GST. My city is adjoining Punjab border. Petroleum products and alcohol is cheeper their. So many person here doing illegal business of these.

I have simply mentioned the position. I cannot comment on why Petroleum, alcohol for human consumption and some other products are being kept out of GST. But I feel that petroleum products should be in GST. Transportation cost including tax on petroleum products enters almost every product and service and so such exclusion will not be appropriate. Possibly, petroleum products could be brought in GST net later.

I am agree with you, tax rate on petroleum product must be  equal in whole country.

Not only Petroleum, but everything taxable is Uniform all over the Country. That's why GST is called appropriately, " One Country, One Tax."

However, GST Bill will be taken up by Lok Sabha today, with virtually all political Parties backing this legislation. After discussions, it will be clear, the advantages and disadvantages of GST.

Every thing have advantages and disadvantages, both. GST is not an exception.

As of now, the Bill appears to be perfect. Because, Experts, concerned Ministers after  prolonged discussions gave Green signal to the Bill. Now because the constitution has been amended, additions or deletions in the Bill can be done over a period  in case there is a need.

It is to be hoped that the fertile Indian minds do not find ways to neutralize the advantages of GST for their petty gains.

Things will not happen overnight. GST Bill has been Unanimously OKeyd  by the Lok Sabha. hence, tbi  bill not be misused..

The bill seems good at a casual glance will be beneficial for some but it will increase the price of almost every service in general which will hit the consumers indirectly. As for the corruption is concerned there is no way our society is going to find a way of getting rid of it - GST or no GST. The traders and government employees know how to find loopholes in any system. 

Exactly they both will milk GST also with blessings of corrupt politicians.

GST is the Best thing happened in India. It has been hailed as the 21 st century Tax system. Any how. I'm of the opinion, that we must wait and see .

Just wait and watch when all service including phone, electricity, gas, eating out, staying in hotels  etc etc will go up by at least by 5% as soon it comes into existence. 

Yes already states are asking for 20 plus per cent tax levels.