Taxbase GSTPro - Goods & Services Tax Software
What is GST, Scope & Post GST Scenario?
GST is the biggest tax reform in the history of Independent India in the era of Indirect Taxation. Earlier as per the structure of the Constitutionboth central government and state government hadrights to levy the various duties and taxes on the various activities such as sale of goods, sale of services and other activitiesFor example, tax on Sale of goods, which used to fall under State Revenue but tax on Sale of Services was the right of Centre. With the help of introduction of GST such bifurcation will be the history. Above mentioned structure resulted in different State VAT Acts such as Maharashtra VAT, Gujrat VAT along with variations in local taxes and other duties by the State Government.In the post GST scenario situation will be entirely different and all such variety of taxes will besubsumed into one Tax called GST.