What is GST and its rate? From which F.y. it will be applicable?
M P Singh
(Service - Finance & Taxation)
(180 Points)
Replied 28 December 2009
Hi,
GST means the combined goods and service tax .....in the line of Indirect tax reforms ...our govt. was supose to introdue this w.e.f. 01.04.2010 but due to non receipt of consensus of some state govt.'s on rates of GST and other constitutional and legal amendements it may be missing the deadline and looks like to be delayed at least by 1 year.
Rates issue is under consideration by govt. ..and ..Likely rates shall be within the range of 14% - 18 %
Regards,
MP Singh
CAclubindia
