Goods and Service Tax (GST)

Goods and Service Tax (GST):

1. GST Registration.
2. GST Return Filling.

The Need for GST:

VAT rates and regulations differ from state to state. And it has been observed that states often resort to slashing these rates for attracting investors. This results in loss of revenue for both the Central as well as State government. On the other hand, GST brings in uniform tax laws across all the states spanning across diverse industries. Here, the taxes would be divided between the Central and State government based on a predefined and pre-approved formula. In addition, it would become much easier to offer services and goods uniformly across the nation, since there won’t be any additional state-levied tax. GST rollout missed several deadline due to disagreement among many states over certain important issues on the new tax reform.