Will Tobacco & Tobacco Products be facing two taxes or single tax?
Two taxes : Excise and GST
One Tax : GST
is still a question...
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Excise and gst on tobacco?
Replies (9)
ONLY GST WILL BE CHARGED
I heard in one of GST Awareness campaign that on Tobacco lobby, they will charge Excise as well as GST both
so I was curious to know about this clearly.
Both GST and Excise.
They have not excluded excise from tobacco while passing Constitutional Amendment Act and have also included tobacco products under GST.
They have not excluded excise from tobacco while passing Constitutional Amendment Act and have also included tobacco products under GST.
So the Excise rates on tobacco products will remain same and will continue to collect it.?
Excise will be levied as it is being presently.
GST will be levied on price of product + excise amount (tax on tax)
GST will be levied on price of product + excise amount (tax on tax)
GST will be levied on price of product + excise amount (tax on tax)
You Mean GST + CESS (Tax on Tax)
But in my another post Mr Dhirajlalji mentioned it will be calculated as tax with tax i.e. cess on price of product.
sorry I'm not offending any reply but just in need to clarify my doubt.
Thank You
I am not talking about cess.
To calculate GST you need value and rate. Rate list have already been given by government.
For value GST will be calculated on price inclusive of excise tax.
The amount you will arrive at will be GST, then you will calculate cess.
To calculate GST you need value and rate. Rate list have already been given by government.
For value GST will be calculated on price inclusive of excise tax.
The amount you will arrive at will be GST, then you will calculate cess.
With tax on tax i meant you have to calculate gst on excise amount also.
Ok Sirji.
Now its clear to me
Thank You Sirji.
Thank Alot.
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