In our India, there are two types of taxes- Direct and Indirect taxes. Direct taxes are levied on the income earned by an individual per year and tax % depend on per annum income while Indirect taxes are levied on goods and services which collect it from customer/consumer by selling them goods n offering services.
After GST (Goods And Services Tax)
In simple word, GST is the easy way to pay tax and it replaced former taxes like VAT(value added tax), Service tax, Excise duty, Entertainment tax and so on. For instance, In restaurant after dinner you will have seen taxes like vat, entertainment tax, service tax in the bill but after introducing GST it becomes/takes one tax all over India. GST is an indirect tax and it makes several changes here whereas there is no change indirect taxes. It is true GST impact on some products such as gold jewellery, food at fine dining restaurants, household items like television, washing machine, refrigerators, air conditioners, air and train tickets, mobile bills, banking charges, laptop/computer, Indian mobiles, luxury goods, butter, perfumes, shampoos and so on. In another side, some Cheaper products under GST are pressure cookers and pans, footwear and apparels, ups, unpacked food grains, loose wheat and gram flours, fresh vegetables and fruits, salt, cutlery, ketchup and sauces, pickle, soaps, hair oil, toothpaste and so on.
In GST, there is four tax slab these are 0% 5%, 12%, 18%, 28% while before GST tax goes 35% to 45% was charged arbitrarily. Before GST there are 17 several taxes is taken but after GST it becomes one tax for whole nation and tax then levied on any product when it will sell and tax took in a place where the product is sold. Before GST, a tax levied on the place where the product is manufactured. For instance, before GST if the product made in Delhi and sell in Maharashtra then it first tax charged in Delhi but after GST now tax charged in sold place. I mean Maharashtra. Let me take an another example, suppose one furniture is made in the factory after production excise duty tax levied on that in factory and as it leaving from factory to another state then entry tax levied and where it sold VAT levied on that means in one product 3 times tax charged and if that furniture goes/cross from four states then 4 times entry taxes will be charged after GST it has been take once and benefit is that the price is automatically reduced.
click here to view the app ——-link———— https://play.google.com/store/apps/details?id=com.indiandgst&hl=en
Peoples is hugely confused that which products are being/have been getting costlier or cheaper and how can know/check the fact rate after GST introduce and the main problem is some local retailer and shopkeeper is giving wrong information to make their own profit. Our government introduces GST rate finder app to get the right information and the real prices of any products. To download app click on this link. Also teach your family members, friends, unknowledge and illiterate persons about this very useful GST app and pay the money which is right.