Q What would be the role of GST Council? Ans. A GST Council would be constituted comprising the Union Finance Minister (who will be the Chairman of the Council), the Minister of State (Revenue) and the State Finance/Taxation Ministers to make recommendations to the Union and the States on (i) the taxes, cesses and surcharges… Read More »
Q Who will decide rates for levy of GST? Ans. The CGST and SGST would be levied at rates to be jointly decided by the Centre and States. The rates would be notified on the recommendations of the GST Council. Education Guide on Goods & Service Tax (GST) S. No. Title of the Post… Read More »
Q What is IGST? Ans. Under the GST regime, an Integrated GST (IGST) would be levied and collected by the Centre on inter-State supply of goods and services. Under Article 269A of the Constitution, the GST on supplies in the course of inter-State trade or commerce shall be levied and collected by the Government of… Read More »
Q What are the benefits which the Country will accrue from GST? Ans. Introduction of GST would be a very significant step in the field of indirect tax reforms in India. By amalgamating a large number of Central and State taxes into a single tax and allowing set-off of prior-stage taxes, it would mitigate the… Read More »
Q . What type of GST is proposed to be implemented? Ans. It would be a dual GST with the Centre and States simultaneously levying it on a common tax base. The GST to be levied by the Centre on intra-State supply of goods and / or services would be called the Central GST (CGST)… Read More »
Q What will be status of Tobacco and Tobacco products under the GST regime? Ans. Tobacco and tobacco products would be subject to GST. In addition, the Centre would have the power to levy Central Excise duty on these products Education Guide on Goods & Service Tax (GST) S. No. Title of the Post… Read More »
Q Which are the commodities proposed to be kept outside the purview of GST? Ans. Alcohol for human consumption, Petroleum Products viz. petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel& Electricity. Education Guide on Goods & Service Tax (GST) S. No. Title of the Post 1. Goods and… Read More »
Q Can a taxpayer generate challan in multiple sittings? Ans. Yes, a taxpayer can partially fill in the challan form and temporarily “save” the challan for completion at a later stage. A saved challan can be “edited” before finalization. After the tax payer has finalized the challan, he will generate the challan, for use of… Read More »
Q . Is there a validity period of challan? Ans. Yes, a challan will be valid for fifteen days after its generation and thereafter it will be purged from the System. However, the taxpayer can generate another challan at his convenience. Education Guide on Goods & Service Tax (GST) S. No. Title of the… Read More »
GST Certificate Download Here is the procedure and frequently asked question on GST Certificate Download from GST portal Q Can the registration certificate be downloaded from the GSTN portal? Ans. In case registration is granted, applicant can download the Registration Certificate from the GST common portal. www.gst.gov.in When will Provisional Registration Certificate be issued? The… Read More »