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GST in India pdf file download : Goods and Service Tax 2017

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Goods and Services Tax (GST) is an indirect tax applicable throughout India which replaced multiple cascading taxes levied by the central and state governments. It was introduced as The Constitution (One Hundred and First Amendment) Act 2017, following the passage of Constitution 122nd Amendment Bill. The GST is governed by a GST Council and its Chairman is the Finance Minister of India. Under GST, goods and services is taxed at the following rates, 0%, 5%, 12%, 18%, 28%. There is a special rate of 0.25% on rough precious and semi-precious stones and 3% on gold. Also cess of 15% or other rates on top of 28% GST applies on few items like aerated drinks, cars and tobacco products.

The Goods and Services Tax (GST), India’s biggest tax reform in 70 years of independence, was launched on the midnight of 30 June 2017[2] by the Prime Minister of India Narendra Modi. The launch was marked by a historic midnight (June 30-July 1, 2017) session of both the houses of parliament convened at the Central Hall of the Parliament.

  • Source : Wikipedia

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