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gst - vat

1399 views 4 replies

 Hi Gurus, 

I understood that if GST is implemented. There will be a levy of CGST & SGST on all the goods and services we buy. 

In case Inter state sales how will be the IGST model, how GST will be levied on Intra state model.

please through some light

Regards

Praveen Kumar  

Replies (4)

 i dont under u r context

I think you should go through with this attached file named gst white paper, which I got earlier from caclubindia

 

Hope it will help you

Hi Praveen u r right.  but GST will efect from 01.10.2010, GST will be levied on inta state by the state as like as levied VAT. IGST model is helpfull to cliame both inter& intra state transactions.

Hi this praveen, Sorry for delay.

I understand that IGST can be offset agains IGST, CGST then SGST order. 

Let me explain with a example. 

  • Business buys goods from interstate [IGST is levied], and sells inside the state, will CGST , SGST, or commonly  GST get setoff against IGST]?

Regards

Praveen Kumar


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