GST (Goods and Service Tax) is a tax levied when a consumer buys a goods or services. The main aim of introducing GST is to bring all the taxes in a single umbrella. This bill helps to eliminate the cascading effect of taxes on production, distribution prices on goods & services. Goods & service tax refers to indirect tax which replaces taxes levied by the central & state government.
GST bill abolish indirect taxes like VAT, Service tax, excise, octroi.
Migration to GST
If you’re an existing taxpayer registered under any of the below mentioned authorities, then you are Liable to migrate and enrol under GST system portal.
- Central Excise
- Service Tax
- State sales tax/VAT (except exclusive liquor dealers)
- Entry tax
- Luxury Tax
- Entertainment tax
Migration here means validating the data of existing taxpayers and filing up the remaining key fields.
Steps to migrate to GST can be read here.
We can help you in migrating to GST at a mere cost of Rs 1,000/- (excluding DSC cost).