The essence of GST in very simple language| How Will GST Work In India
Hi Friends,
Please Subscribe to our channel for more easy & creative videos!!!
Don't Forget To Subscribe This Channel And Leave Comments. Keep Visiting For More Videos.
The Goods and Services Tax, which has been in the making for over nine years, is undoubtedly the most significant and transformative piece of tax reform that India has seen since Independence. If India is to succeed in reaping the full benefits of GST, it is critical that we get the design right.
The input credit mechanism proposed in GST has an element of self-policing as it will create a third party reported paper trail of transactions between firms along the entire supply chain. This, in combination with a moderate tax rate, promises to be the most effective deterrent to evasion.
It is well known that sectors such as real estate and alcohol are plagued by lack of transparency and are havens for tax evasion. For this reason, many international jurisdictions such as Australia, Canada, New Zealand and South Africa cover these sectors in their VAT/GST. It is important to note that Malaysia, which recently introduced GST, covers commercial real estate transactions within the ambit of GST. In this background, if real estate, alcohol and other sectors are left out of the purview of GST, then the opportunity of developing a transparent and clean tax system would be lost.
Conversely, including these sectors in GST will result in the many advantages GST is supposed to bring in. Hence, in the larger interests of the country, there is a need to reconsider the exclusion of these sectors from GST.
Types of GST Returns, GST Return Forms, How To File GST Return, GST Returns in India. Download GST Return Forms 2017 in Excel, Complete details for Returns under GST, Procedure to File GST Return, Download GST Return Forms in PDF Format. All Returns under GST,
Смотрите видео The essence of GST in very simple language| How Will GST Work In India онлайн без регистрации, длительностью часов минут секунд в хорошем качестве. Это видео добавил пользователь SOFT NET 10 Июль 2017, не забудьте поделиться им ссылкой с друзьями и знакомыми, на нашем сайте его посмотрели 141 раз и оно понравилось 2 людям.