Re: [Goanet] Link: Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) India NEW

[Gabe Menezes]

On 11 August 2016 at 03:13, Marshall Mendonza  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.

Re: [Goanet] Link: Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) India NEW

[Vivian A. DSouza]

Goods and Services Tax - eh ?   What if your Doctor/Dentist/local hardware 
store etc.does not give you a receipt for for services or goods.  How will the 
Government collecttaxes on the service or goods ?  Indians know how to EVADE  
(not avoid) taxation, and investing their ill-gotten income in Gold, real 
estate in the names of relatives orshell companies etc.GST is not a panacea to 
curb corruption.  It is "chalta he, chalta he" business as usual.



  From: Albert Peres <afpe...@3129.ca>
 To: "Goa's premiere mailing list, estb. 1994!" <goanet@lists.goanet.org> 
 Sent: Wednesday, August 10, 2016 7:31 AM
 Subject: [Goanet] Link: Frequently Asked Questions (FAQs) on Goods and 
Services Tax (GST) India NEW
   
Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)

http://pib.nic.in/newsite/PrintRelease.aspx?relid=148240

GST is one indirect tax for the whole nation, which will make India one 
unified common market.

GST is a single tax on the supply of goods and services, right from the 
manufacturer to the consumer. Credits of input taxes paid at each stage 
will be available in the subsequent stage of value addition, which makes 
GST essentially a tax only on value addition at each stage.

The final consumer will thus bear only the GST charged by the last 
dealer in the supply chain, with set-off benefits at all the previous 
stages.

-- 
Albert Peres

afpe...@3129.ca
416.660.0847 cell

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[Goanet] Link: Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) India NEW

[Marshall Mendonza]

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*

[Goanet] Link: Frequently Asked Questions (FAQs) on Goods and Services Tax (GST) India NEW

[Albert Peres]

Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)

http://pib.nic.in/newsite/PrintRelease.aspx?relid=148240

GST is one indirect tax for the whole nation, which will make India one 
unified common market.


GST is a single tax on the supply of goods and services, right from the 
manufacturer to the consumer. Credits of input taxes paid at each stage 
will be available in the subsequent stage of value addition, which makes 
GST essentially a tax only on value addition at each stage.


The final consumer will thus bear only the GST charged by the last 
dealer in the supply chain, with set-off benefits at all the previous 
stages.


--
Albert Peres

afpe...@3129.ca
416.660.0847 cell

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