GOODS AND SERVICE TAX
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – PAYMENT RULES
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – PAYMENT FORMATS
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – REFUND RULES
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – REFUND FORMATS
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – REGISTRATION RULES
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – REGISTRATION FORMATS
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – RETURN RULES
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – RETURN FORMATS
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – INVOICE FORMATS
DRAFT FORMATS UNDER GOODS AND SERVICES TAX – INVOICE RULES
Goods and Services Tax (GST) is a proposed system of indirect taxation in India merging most of the existing taxes into single system of taxation. It was introduced by The Constitution (One Hundred and First Amendment) Act 2016.
“Goods and Services Tax” would be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the central and state governments. Goods and Services Tax would be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method. This method allows GST-registered businesses to claim tax credit to the value of GST they paid on purchase of goods or services as part of their normal commercial activity. Taxable goods and services are not distinguished from one another and are taxed at a single rate in a supply chain till the goods or services reach the consumer. Administrative responsibility would generally rest with a single authority to levy tax on goods and services. Exports would be zero-rated and imports would be levied the same taxes as domestic goods and services adhering to the destination principle.
Goods and Service Tax Network (GSTN)
To become a trusted National Information Utility (NIU) which provides reliable, efficient and robust IT Backbone for the smooth functioning of the Goods & Services Tax regimen enabling economic agents to leverage the entire nation as One Market with minimal Indirect Tax compliance cost.
- Provide common and shared IT infrastructure and services to the Central and State Governments, Tax Payers and other stakeholders for implementation of the Goods & Services Tax (GST).
- Provide common Registration, Return and Payment services to the Tax payers.
- Partner with other agencies for creating an efficient and user-friendly GST Eco-system.
- Encourage and collaborate with GST Suvidha Providers (GSPs) to roll out GST Applications for providing simplified services to the stakeholders.
- Carry out research, study best practises and provide Training and Consultancy to the Tax authorities and other stakeholders.
- Provide efficient Backend Services to the Tax Departments of the Central and State Governments on request.
- Develop Tax Payer Profiling Utility (TPU) for Central and State Tax Administration.
- Assist Tax authorities in improving Tax compliance and transparency of Tax Administration system.
- Deliver any other services of relevance to the Central and State Governments and other stakeholders on request.