On 11 August 2016 at 03:13, Marshall Mendonza <mmendonz...@gmail.com> wrote:
> Summarised beautifully!!! > > Regards, > > Marshall > > > > > > > > > > > > > > > *GST is one indirect tax for the whole nation, which will make India > oneunified common market.GST is a single tax on the supply of goods and > services, right from themanufacturer to the consumer. Credits of input > taxes paid at each stagewill be available in the subsequent stage of value > addition, which makesGST essentially a tax only on value addition at each > stage.The final consumer will thus bear only the GST charged by the > lastdealer in the supply chain, with set-off benefits at all the > previousstages.--Albert Peres* > COMMENT: We have VAT Here which has been abused. Some operators were sending goods overseas, then collecting the VAT (which is not applied to exports) These same goods were then imported and the cycle went on, known as carouselling. http://news.bbc.co.uk/1/hi/uk/5178788.stm -- DEV BOREM KORUM Gabe Menezes.
