What is GST?
GST is a tax on goods and services with comprehensive and continuous chain of setoff benefits from the Producer’s point and Service provider’s point Upto the retailer level. It is essentially a tax only on value addition at each stage and a supplier at each stage is permitted to set off through a tax credit mechanism.
Under GST structure, all different stages of production and distribution can be interpreted as a mere tax pass through and the tax essentially sticks on final consumption within the taxing jurisdiction.
Objective behind GST
- The incidence of tax only falls on domestic consumption.
- The efficiency and equity of the system is optimized.
- There should be no export of taxes across taxing jurisdictions.
- The Indian market should be integrated into a single common market.
- It enhances the cause of cooperative federalism.
Our comparative discussion will be based only on significant points constructing overall GST.
Our Services in GST
- Tax Return Preparation
- Tax Planning
- Tax Representation