Applies to all Indian service providers launched on July 1 2017, the Goods & Services Tax (GST) traders and manufacturers. A variety of Central taxes like Service Tax, Excise Duty, CST and state taxes like Entertainment Tax, Luxury Tax, VAT are absorbed in one tax – GST, implemented on 01.07.2017. GST is to be charged at every step of the supply chain, with full set-off benefits available. The method for GST is entirely online and requires no manual interference.
Every product goes through multiple stages along the supply chain, which includes the purchasing of raw materials, manufacturing, sale to the wholesaler, selling to the retailer and then the final sale to the end customer. Interestingly, GST will be levied on all of these 3 stages. Let’s say if a good is produced in Odisha but is being consumed in Delhi, the entire revenue will go to Delhi.
We at Regilances help businesses to register GST as well GST filling in regular basis. Our expert team are always take responsible and do all types of GST filing on time.