Table of Contents
What is GST?
What is Input GST? What is Output GST? What are the four types of CGST SGST IGST UTGST ? What are the slabs of GST?
GST says that one country should be one tax but it is incomplete truth that the government has only one source of money, that is tax. The purchase of a thing is on sale. Indirect tax was also of many types, custom duty was there, if someone asked for goods from abroad, excise duty, service tax, sale tax, this indirect tax, which is here, these 17 taxes were merged back and which was indirect tax, indirect tax was abolished. GST was brought at this place.
GST will also be an indirect tax, so tell me if it is one nation one tax, then only indirect tax was changed to GST. There is no change in direct tax, even today you have to pay direct tax, there is corporation tax of the central government, the corporation’s tax is very high, so there is no change in direct tax. There is indirect tax, which is GST, and you have to pay it on purchase and sale, now let’s talk about who has to pay GST, then only three people will have to pay it, understand carefully whose annual turnover transaction 20,00,000 .
After that one more thing happens online if you will be even ₹10 then you will get GST like if you order any goods from Flipkart then GST will be charged on it.
This 20,00,000 , these hilly areas like Arunachal Pradesh etc. 20,00,000 will be a big shop, then the population is less in that hilly area, there by some hilly area its category is 10,00,000 kept Has been.
There are four types of GST :-
What does CGST stand for? – CGST stands for Central GST
What does SGST stand for? :- SGST stands for State GST
What does UGST stand for? :- UT stands for Union Territory
What does IGST stand for? :- Integrated GST IGST means as if goods would be sold from one state to another But IGST will be levied.
If you are doing any business in same state then you have to pay CGST and State GST/UT GST. If you sell goods from one state to another, then IGST will be levied.
For example, if you buy any item, it 18% GST.this SGST 9% and CGST is 9% i.e. both add 18 . This is the same rule in every state.
But the state which is with the Union Territory like Jammu Kashmir Ladakh, Pondicherry, Delhi, what is Delhi is not a state, then you just don’t have to do anything, instead of the state, you have to write Union Territory, now Delhi is what it is, it is inside the Central Government. If you are selling goods in Delhi, then you will come under the Central Government, then what will Delhi take from you? Here UTGST will be applicable.
If the goods were moved from one state to another, then it is called IGST i.e. Integrated GST, Integrated GST will be applicable only when your goods will go from one state to another, if any goods are being made in Rajasthan and they have come to sell you. Uttar Pradesh. In this condition, there will be IGST charge which will go to the central government which will then be given to the central UP government. Because the goods are being sold in UP. That is why IGH is also called Destination GST because it seems to be where the person buys the goods. What was, see Rajasthan got the benefit that the people there got the goods made there, and the people of UP got the benefit that the goods came to be sold here Ultimate, so it got the tax.
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Advantage of GST:-
You first understand the old way, what used to happen is that every state which used to take tax on its own, UP used to take 12% service tax then Bihar used to take 14% now you tell if there is 12% tax in UP on any goods then on the same goods If there is 14% in Bihar then goods will become expensive in Bihar, so the people of Bihar used to go to UP to buy goods from the neighboring district which was adjacent to UP.
What used to happen earlier, where the goods were made, the same state used to get the tax only. Like the Gujarat government was smart. In this, the Gujarat government said that brother, we will take the least tax, whichever company will come here to make goods. Earlier, Sara used to make all the goods in Gujarat, then gave excise duty to the Central Government and used to give it to Gujarat. The whole of India used to sell goods made from Gujarat. The rest of the state used to keep watching silently, it has come from Gujarat, we will not get any tax now. That is why in the earlier times the factories ran to Gujarat Maharashtra. The Gujarat Maharashtra government had a lot of money, they gave their tax work which they had done.
With the introduction of GST, tax is equal everywhere, so why will we sell in Assam by making it in Gujarat. Our transportation cost will be covered. Now we set up a small factory in Gujarat which will cover this area. And also in Assam, we will develop this area.
Take the goods of the same brand anywhere in the whole of India, you will get it at the same price. If there is a car like a luxury car is 28% tax, you take it in Delhi or Kanyakumari Kashmir anywhere, the price will be the same. Because GST has come.
Now petrol has not come under the purview of GST, if you take petrol in Delhi, it will be different, if you get Gujarat, then it will be separated, alcohol will not come under GST, the rate of liquor in Delhi is different, the rate of liquor in UP is different.
What is Input GST and Output GST?
Like out GST and Input GST, suppose we are a shopkeeper, we bring some goods after buying ₹100 , then there 10% GST on it, then how much will we have to do that goods ₹110 Here how much we have given as GST ₹10 given here. Now if we sell the same goods to other, then we should also make profit in it. We will think that we ourselves 110 , we do this work, we will sell it for ₹150 , whoever buys from us will then give us GST.on this, 10% then 150 , 10% we got ₹165 now you tell ₹10 we have given GST here from our pocket and the person who has bought from us has also given 10% i.e. ₹15 GST herea 150 of 10% then GST is ₹15, .So then ₹15 will also have to be given to the government. Nothing like this, we gave ₹10 earlier, now which is ₹15 GST, we will not give ₹15 because we have given ₹10 GST ₹15 ₹10 will deduct5 , like this Out of GST ours is ₹10 and in-GST is ₹5 . Now we combined both GST10 and ₹5 → ₹ 15 gave
So if someone steals GST then he will 5 be jailed
When the President signed the GST bill, on 8 September 2016 , in it . the President signed it on 8 September 2016 because the interest of the states was also kept
Therefore, there is a constitution that what the national states will also consent to in this, in which state was given consent first, then Assam first and later Jammu and Kashmir has been implemented, everyone knows. 1st July 2017 This our GST has been implemented in the whole country from GST comprises five basic rates: 0 percent, 5 percent, 12 percent, 18 percent and 28 percent.
GST(FAQ)
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