ERP Solution for GST

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The GST is a destination based tax on consumption of goods and services which mean the tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply. Therefore, imports would be subject to GST, while exports would be zero-rated. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. Only value addition will be taxed and taxable event is Supply as against the existing taxable events of sale, manufacture or provision of service.

Posted on : 18/07/2017, #, Edit

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