Sir i am a tyre dealer.

As of now am paying VAT, but lately i got to know that there would be a new tax called GST. What is it and is it  people friendly ?

Anonymous Asked on August 17, 2015 in Taxations.
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1 Answer(s)

Hi

GST ( Goods and Service Tax) which is one of the important change in the country , planned to be rolled out in April 2016.  Its plan to merge all Indirect taxes into one like Vat, Service Tax, Excise , Entry tax etc.. It will be bring down multiple compliances into few.   The thoughts are there for simplification but again when your collection target are on upper-side may bring strings.  We hope it will bring-down Inspector Raj and more stress is on on self compliances .

Regards

TaxIQ Answered on August 17, 2015.
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