Kolhapur Office :

2985,A Ward,
Babujamal Road,
Near Mahalaxmi Temple,
Kolhapur 416012
Maharashtra, India
Phone: +91 231 2620003
Email :

All India Transport

Directory

GST (Goods and services Tax in

India)
The GST is one of the biggest taxation reforms inIndia
which integrates State economies and boost overall
growth. GST, or Goods and Services Tax, will subsume
central indirect taxes like excise duty, countervailing
duty and service tax, as also state levies like value
added tax, octroi and entry tax, luxury tax. GST will
unify the taxes into one which will remove the
cascading effects.
So now with GST all these taxes will be removed.

http://www.indiantransporters.i
n
Call us - +91 231 2620003

What is GST?
G -Goods
S -Service
T - Tax
GSTBill, officially known as The Constitution (122nd
Amendment) Bill, 2014, would be a Value added Tax (VAT) to
be implemented inIndia, from April 2016. GSTis an indirect
tax that brings together most of the taxes that are imposed on
all goods and services (except a few) under a single banner.
The GST, however, is a comprehensive form of tax based on a
uniform rate of tax for both goods and services which is
payable only at the final point of consumption.
http://www.indiantransporters.i
n
Call us - +91 231 2620003

Need of GST
Now why GST is so important for the growth in the economic
system in India?
India presently has a dual system of tax and services. The
present indirect structure can be described in the flow chart
below

http://www.indiantransporters.i
n
Call us - +91 231 2620003

Need of GST

http://www.indiantransporters.i
n
Call us - +91 231 2620003

Need of GST
India needs GST to get rid of problems with the direct taxes.
As multiple taxes like CENVAT, central sales tax, state sales
tax, octroi, etc will not exist and will be replaced by GST, and
improve tax compliances.
The complexity in determining the nature of transaction, the
inability of states to levy tax on services, lack of uniformity in
provision and rates, complexities in administration, all could
be withdrawn to an extent with the implementation of GST.
More than 150 countries have adopted GST as it has the
potential to raise revenue with more transparency and
neutrality.
http://www.indiantransporters.i
n
Call us - +91 231 2620003

There are three prime models of

GST
GST at central(Union) Government Level only
GST at State government level only
GST at both, Union and State Government Levels.

http://www.indiantransporters.i
n
Call us - +91 231 2620003

Benefits of GST
To economy

A study by the National Council of Applied Economic Research estimated that

roll out of the tax would boost the GDP growth by anywhere between 0.9-1.7
per cent. GST will boost up economic unification of India. It will assist in better
conformity and recover risk factors in revenue generation and increase its
flexibility.

To corporate

The industries willbenefitthe most from the arrival ofGST as removal of

cascading taxes makes the manufacturing sector more competitive and
reduces the tax compliance burden. All entry taxes, including octroi will be
subsumed in GST from the start. So with no embedded tax costs on inter-state
movement of goods (CST or entry taxes) under the GST regime, and shift of
taxation to the consumer ultimately, businesses would have more flexibility to
revise their supply chains process and thus, optimize logistics costs.

http://www.indiantransporters.i
n
Call us - +91 231 2620003

Difficulties/Drawback of GST
Some critics say thatGST would have a negative impact
on the real estate market. It will increase the cost of
new homes by 8 percent to and reduce demand by about
12 percent.
It is also estimated that Low and Middle income groups
will be affected badly as the price of goods and services
will go up with the implementation of GST in India.
Some economist says that CGST, SGST and IGST are
nothing but new names for Central Excise/Service Tax,
VAT and CST.
http://www.indiantransporters.i
n
Call us - +91 231 2620003

Conclusion
The GST system is basically structured to simplify
current indirect tax system in India. A well- designed
GST is an attractive method to get rid of deformations of
the existing process of multiple taxation.
We are Indias only Transport Directory, providing listing
solution for transportation companies providing full truck
load transport services, food Transportation, goods
transportation companies, and other transport services.
To
list
your
transport
company
visit
www.indiantransporters.in or call us on 9156044824.
http://www.indiantransporters.i
n
Call us - +91 231 2620003

Contact Us Details
Kolhapur Office :
2985,A Ward, Babujamal Road,
Near Mahalaxmi Temple,
Kolhapur 416012
Maharashtra, India
Phone: +91 231 2620003
http://www.indiantransporters.in
enquiry@indiantransporters.in