Do you know what is GST (Goods and Services Tax), how does it work, what is its history, how much will GST look like. Can it bring some changes in GDP? Some people are also having more questions like which things will be cheap or expensive.
Will the government gain anything from this or should the loss know what is behind it. There are so many types of GST. But nowadays everyone is hearing its name. By the way, TAX fills everyone whether it is goods tax or service tax.
Every year there is some change in tax. Sometimes a government keeps changing taxes for its own benefit. Only the common man grinds in it. You buy any item like books, biscuits, TV, FAN water bottle and take some services like hotels, resturant, everyone you pay tax. Now changes in tax have come. BJP started this in 2016. So let’s know in detail what the GST is. At the same time, you will get GST Notes in hindi in this article.
Show sequence
- What is GST – What is GST
- What is the full form of GST?
- When did GST come into force?
- What are CGST, SGST and IGST?
- GST Rules 6. History of GST – History of GST in Hindi
- Benefits of GST
- What are the components of GST Act?
- What is the difference between UPA’s GST and NDA’s GST?
- Which taxes did GST replace?
- Which items are installed on GST
- Types of GST 13. What is the short-term impact of GST?
- What content will be charged at what percentage of GST
- What will be cheaper and more expensive than GST
- What will happen to the late GST and GDP changes in India?
- With the coming of GST, which items are expensive and which things are going to be cheaper?
- What did you learn today
What is GST – What is GST
GST full name is Goods and Services Tax. In Hindi it is called “Goods and Services Tax”. The old tax methods in India will change all of them, the same tax will apply in India, that is the name of GST. According to the TAX expert, this tax has taken a big step to improve the tax structure of India.
This is an Indirect tax. This is a single tax, after which all goods and services will be taxed. India will become an integrated market. It is called a country, what is a GST.
Whatever taxes were indirect tax such as Exise tax, Service tax, VAT (Value Added Tax), Entertainment Tax, all those taxes will be covered under GST. For GST, you should also know this.
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When an item is made in the factory, it moves near the customer from different levels. Kacha goods are bought before the item is made. Now VAT is added on it. The next level is, when this material goes to the factory, it is produced there.
Now after the object is created, it goes to the holeseller, then VAT and EXISE Duty are added on it. Then now the retailer buys this goods and has holeseller VAT added on it. Finally, the Retailer sells it to the customer with very little VAT on it.
Now understand, so much TAX is being added in every level, so the price is increasing so much. But GST will be applied in every level and it will remain fixed.
For this reason, the prices of some items will increase and the prices of some items will decrease. GST will be charged at 5%, 12%, 18%, and 28%. Earlier some states used to add tax according to their mind but now it will not happen. Now you must have known what is GST and how it works. Know when GST is implemented and its commencement.
What is the full form of GST?
GST is the full form, Goods and Services Tax.
When did GST come into force?
The GST was fully implemented in India on 1 July 2017.
What are CGST, SGST and IGST?
India or India is a federal democracy, meaning that in its constitution there is a clear demarcation about power, responsibility and revenue collection between the states and the center.
GST Rules
For example, law and order comes under state’s jurisdiction while nation’s defense is the responsibility of the center. At the same time, there should be such clear provisions in GST also, so that there is no overlapping regarding this center and state and both can collect revenue in their own way.
Central GST or CGST is called those areas where the center has powers.
Under the state GST, the state has taxation capabilities.
Whereas IGST or Integrated GST is called where the movement of Goods takes place within the states of the Indian Union. They are collected by union but are later transferred to states.
transaction
New system
Old order
Explanation
In-state sales
CGST + SGST
VAT + Central Excise / Service Tax
Revenue will now be shared between Center and State
Sale to another state
IGST
Central Sales Tax + Excise / Service Tax
There will now be only one type of tax (central) in case of interstate sales.
So it is important that if GST ever comes then it should be brought together all over the country.
History of GST – History of GST in Hindi
You must have understood a little about what the GST bill is, so let’s also know its history. Everyone has a history, so is the history of Goods and Services tax. This is not just a few years ago, it was started 16 years ago by a great figure.
Whose name is Atal Vihari ji, to whom everyone is known. Which is the main leader of BJP. Nothing happened at that time. After this, he was also proposed by the UPA government Congress acquitted in 2007. Nothing happened due to clutches and inability.
BJP and UPA were in support of this from Hemsa. But Gongres was not supported in the Rajya Sabha due to some TAX increases. The Congress was a conspiracy because there was a substantial tax on goods and services.
After all, many states were also against it, but the BJP left no stone unturned to convince everyone. It was approved in the Lok Sabha on 1 May 2015. The GST was implemented on 1 July 2017 after considerable changes in the GST. These were some things about the history of GST, what is GST. Now know which items are installed on GST.
Benefits of gst
India’s current tax structure is very complex. According to the Indian constitution, the state government mainly has the right to impose taxes on the sale of goods and the right to levy taxes on the production and services of goods.
Due to this, different types of taxes are applicable in the country, due to which the current tax system of the country is very complex. It is difficult for companies and small businesses to follow different types of tax laws.
What are the components of GST Act?
There are 3 taxes applicable under this system: CGST, SGST and IGST.
CGST: It is collected by the Central Government in an intra-state sale (eg transaction under Gujarat)
SGST: It is collected by the State Government in an intra-state sale (eg under the transaction which happens in Gujarat)
IGST: It is collected in an inter-state sale by Central Government (eg Gujarat to Kerala)
In most cases, the structure of tax that will be in the new regime will be something like this:
Transaction
New regime
Old regime
Sale within the state
CGST + SGST
VAT + Central Excise / Service tax
Revenue is shared between the Center and the State.
Sale in another state
IGST
Central Sales Tax + Excise / Service Tax
There will be only one type of tax (central) in inter-state sales. Then the center will share IGST revenue on the basis of destination of goods.
What is the difference between UPA’s GST and NDA’s GST?
Let us know about the difference between these two:
Petroleum sector was not brought under GST.
Where Liquor (alcohol) is kept away from GST, tobacco and tobacco products are covered under GST.
In Goods and Services in the Inter-State, there is a 1% tax on the movement above the GST.
Which taxes did GST replace?
GST replaced many types of indirect taxes like,
- Central Excise Duty
- Service Tax
- Countervailing Duty
- Special Countervailing Duty
- Value Added Tax (VAT)
- Central Sales Tax (CST)
- Octroi
- Entertainment Tax
- Entry Tax
- Purchase Tax
- Luxury Tax
- Advertisement taxes
- Taxes over Lotteries.
Which items are installed on GST
There will be a question in your mind whether the GST will not be levied on all goods and services. Just leave an object drenched. All the ingredients are rice, good, vegetable, cheese, flour, gram flour, tea, sugar, LPG, kerosene, calcium, butter, ghee, medecine, juice, oil soap, soup, ice cream, cement after leaving the water. , Car, bike, car on almost all goods and services like car motor service, hotel, resturant will all be taxed in all these.
Types of gst
What is the type of GST? Three types of TAX have been implemented in GST. First CGST, second SGST and third IGST.
CGST is the Central Goods and Services tax which will be collected by the Central Government. After this, SGST State Goods and Services tax will benefit the state government. Now the third is IGST Itegrated Goods and Services. The tax that will be levied on the transactions between the two states will be equal to both.
Both CGST and SGST will be charged within the state. If the transaction is from one state to another state, then it will be charged IGST. Now know how much GST per content will be charged on TAX and further you will know what will be expensive and what will be cheaper.
What is the short-term impact of GST?
With the coming of GST, inflation will increase for short term. GST rate starts with 5% and 18% taxation services like restaurants, movies etc. and is associated with price increases.
At the same time, due to GST not being applicable to alcohol, many experts believe that some capitalists want to whitewash their black money. This is because more tax has to be paid in GST.
What percentage of GST will be charged on which material
The TAX pattern is determined by the properties of the objects. Some items will not attract GST and some will. Let us know how much GST was applied.
- Which items will not have any GST
Food grains, good, milk, egg, curd, uncovered cheese, fresh sahad, fresh vegetables, flour, gram flour, maida, vegetable oil, prasad, salt, betel leaves, sugarcane are all exempt from GST.
- Which items will attract 5% GST
Sugar, Tea, Coffee, Edible Oil, Coal, skimmed milk, powder, edible, condensed milk, packed cheese, Newsprint, Umbrella, PDS, Kerosene, LPG, Beetroot, Graphite, Chalk, Barati, CALCIUM, Phosphate in All will be charged 5% tax.
- Which items will attract 12% GST
Butter, ghee, mobiles, almonds, cashew, fruit juice, packed coconut, water, agarbati, bio-gas, hydrogen peroxide, iodine,
- Which items will attract 18% GST
Hair oil, soap, toothpaste, capital goods, pasta, maca, cakes, jams, soups, ice cream, toilets, facial tissue, iron, steel, fountain pen, fluorine, chlorine, wax will all be taxed at 12%.
- Which items will attract 28% GST
Car, cement, chiwing gum, custard powder, perfume, sampoo, make up, bike, car, hair dyes, hair cream, firecrackers will all attract 28% tax.
What will be cheaper and more expensive than GST
These few items will be cheap and expensive after GST. Know about them
1 # houses will be cheap
Builders are very scared of GST. Government will take 12% GST on house and flat. But the government will get a discount of Input Credit, which will directly benefit the customers. In which the builders will have to show the input credit and the government will give them a concession.
2 # Kitchen Ingredients Affordable
You common people use the kitchen much more. Which has a tax of 18%. More level goods will be cheaper.
3 # All this Tax Free
Food grains, good, milk, egg, yogurt, uncovered cheese, fresh sahad, fresh vegetable, atta, gram flour, maida, vegetable oil, prasad, salt, betel leaves, sugarcane.
4 # bikes will be cheaper
The good thing is that the bike will be reduced by 1% tax which will give some relief to the bikers. They will now be taxed at 28%.
5 # AC, Fridge, Washing Machine also affordable
Earlier, all these taxes were taxed at 30% to 31%, but from GST it would be 28%. So these things will be cheaper.
6 # Now You Can See More Films
Good news for those watching the movie. Now you can spend more time in the cinema hall. Now only 18% tax will be charged on movies. Earlier it was quite high, about 28%. Actors from Bohat are also happy with this GST.
7 # cabs will be cheaper
Passengers and employees who use cabs such as OLA and Uber. Now you can book them for less. Earlier, those who were taxi were robbing but those who book with cab aaps will be cheaper.
8 # big cars will be expensive and small cars will be cheap
There is good news for those who belong to the middle class. Because this small CAR was also expensive before this expensive freezing GST. But now you can buy cheaply. If you are from Delhi then nothing will change. Big cars can be expensive.
9 # Sleeper Ticket will be cheap and AC Ticket will be expensive
You must have come to know that before the budget, the ticket rate has increased. sleeper and general tickets will be cheaper there is no tax in it. But talk about AC, it will take 5% TAX and also in AC buses. So the sleeper has some remains from GST.
10 # station food will be cheap
There will be no service tax on trains without AC. Then B first used to pay 12.5% VAT, now it is 12% which means 0.5% tax is deducted. This was some information about what will be cheaper than GST and what will be expensive. The same tax has been imposed in the whole country.
What will be the change in GST and GDP due to the delay in India
You will be surprised to know one thing, GST has already been applied in about 165 countries before India. This means that GST has come to India very late. There is no need to give different types of TAX in these countries also.
Every business man will have to file a return once a month. India’s GDP is likely to increase. With this, India is likely to grow a lot. Every business man will get input credit on every tax. With this, every business will be accounted for by the government. Support from 1 july to GST.
With the coming of GST, which items are expensive and which things are going to be cheaper?
According to the experts, the below items are going to be valuable:
Cigarette prices are going to increase because tobacco is going to be taxed more.
Commercial vehicles such as trucks are going to be expensive now.
Mobile phone calls can be a bit costly.
Textile and branded jewellery will also become costlier.
According to the experts, the below items are going to be affordable:
Auto: entry-level cars, two-wheelers, SUVs may see a price drop.
Car batteries are going to be more affordable.
Paint, cement prices fall in price.
Movie ticket prices will be cheaper.
Electronics items such as fans, lighting, water heaters, air coolers, will become cheaper.
what did you learn today
So friends, today’s information is very important. In which there is a lot of good information about what is GST Bill. To go along with it, it was also important to know what are the types of GST and how will GST work.
Everyone likes cheap things, so I also told you what will be cheaper than GST and what will be expensive. Along with this, you also got some more information. Hope this will be good with GST. Here you got to know essay on GST in Hindi.
Hope this article must have been liked, how did you feel? If you want to ask any question now, then please write in the comment box below.