Gst
This query is : Resolved
bharat goyal
(Querist)
06 December 2011
is it true that service tax and vat is been replaced by GST ..........
Maninder Jain
(Expert)
07 December 2011
GST is very ambitious thinking of Govt. which is on the verge of advances economies like Europe, America etc.
Under this all the taxes levied on Goods and services are subsumed into one Tax i.e. GST. All type of other taxes like excise duty, Vat, CST, Chungi, Octroi will be removed. Since presently these taxes are levied by various authorities like Centre, State, municipalities and you know the political arena of our country, it appears very difficult to make GST through. The past dead line for implementing GST have been postponed many times by Govt.
Under this all the taxes levied on Goods and services are subsumed into one Tax i.e. GST. All type of other taxes like excise duty, Vat, CST, Chungi, Octroi will be removed. Since presently these taxes are levied by various authorities like Centre, State, municipalities and you know the political arena of our country, it appears very difficult to make GST through. The past dead line for implementing GST have been postponed many times by Govt.
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