Different GST codes for same rate slab
GST is good but still lot of things to be done in tax system.Why there are thousand of code for one tax rate, if it can not be only 5 code for five slabs of tax ?(one code for each rate 5%, 12%,18%, 22%, 28%,after all, all tax money is going to Govt. only. ) small entrepreneur like us facing lot of problems in filing returns,CA's have increased there is fees. more
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to make CA to make more money and government wants every body to be in confusion state . more
Sep 10
Dear Members, Number of slabs of GST rates and identification of various items will cause lot of difficulties to individuals. On the other side it will cause loss of revenue to Government and undue advantages to the sellers/ business people who would be able to manipulate the data and the Government will not be able to track such happenings. Unfortunately, our Government and Administrative Authorities will never like to make the matters simple and easy to implement owing to their high caliber and intelligence. It would have been much easier if the categories of items would have been limited to Food Material for Human and Animal Consumption (0%), Building Construction Material (6%), Cloth Raw (0%), Readymade Garments (10%), Consumable Products (10%), Automobile (16%), Any Other Item not covered above (20%). Motivation was needed to ascertain that no sales happen without applying GST and a receipt/sales invoice must be issued focusing on the Producers/Manufacturers. Material and Product movement should have been monitored honestly at the primary/first point. more
Sep 09
There were many items which were not attracting VAT like Bio fertilizers. Now it seems that it is 12%. This means the Government is increasing price rather than reducing. Before GST government used to say that with GST the prices will come down, but now it is the other way round. Similarly if I go to market and buys any thing even general merchant item and asks for receipt, then shopkeeper adds GST like 12 - 18%. This means if I do not take receipt, then I save on this Money. more
Sep 08
GST is not good & simple but gamble & slavery tax becos India doesn't have big industries and mostly comprises SME's and they work with min manpower and becos of GST they are facing lot of problems as rightly put by Jitendra patil, govt should think before making anything mandatory with industry experts taking into their genuine problems what way HSN is known to sme's becos HSN is applicable to only exciseable goods in the earlier era now becos of HSN code confusion and again 1000 items classfied under single tax rate how to identify each item with correct hsn CA's /consultants say see chapter what way chapter helps in finding right code, this GST is very gambling & complex tax system making life of small business a hell task and hope in the coming winter session govt need to relax some issues or else it will be a nightmare and survival question of SME's ??? more
Sep 08
Since GST is leviable on imports, there has to be alignment with Customs Harmonised System of Nomenclture (HSN). These are used globally and the entire coding system facilitates exports and imports. Export refund rates (Drawback) are also linked with HSN. more
Sep 08
Sir, you r correct. But can five slab nomenclature be adopted for domestic business module? Most of the business entities neither import nor export. more
Sep 08
