What is proposed GST's impact on Government Revenue? What
is the proposed Tax rate? What is the proposed Tax
Structure (Central GST and State GST) ? Whether it is
good/bad to Govt./Consumers/manufacturers?
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Answer / tax beginner
GST is to be implemented from 01-April-2011 and not 2010
| Is This Answer Correct ? | 5 Yes | 2 No |
Answer / h.r. sreepada bhagi
The Central Government of India has proposed to implement
GST w.e.f. April,2010. One needs to wait till the law is
enacted and implemented to know the details and it needs a
year or two there after to assess the implication on various
business sectors and Central & State Governments.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / atul nema
A. The Government revenue will boost with proposed GST
model of Indirect taxation.
B.There are four basic Structure, i.e;
(i) Exepmted Goods
(ii)Zero Rate Commodity
(iii)Standard Rate @4%
(iV) Residuary Rate @8%
Also one hidden Tax rate would be proposed for precious
metal and stone and the rate would be @1%
This tax structure would be for SGST n CGST but Interstate
supply of goods n services it would be 16%(SGST 8%+CSGT 8%)
C.It would definetely be very good for economy as a whole.
| Is This Answer Correct ? | 2 Yes | 1 No |
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