GST (Goods and Services Tax)
GPTKB entity
Statements (81)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:tax_law
|
| gptkbp:administeredBy |
gptkb:Central_Board_of_Indirect_Taxes_and_Customs_(India)
|
| gptkbp:amendedBy |
gptkb:101st_Amendment_(India)
|
| gptkbp:appliesTo |
gptkb:Australia
gptkb:Canada gptkb:India gptkb:New_Zealand gptkb:Singapore businesses above threshold turnover |
| gptkbp:composition |
available for small taxpayers
|
| gptkbp:compositionSchemeRate |
1% (traders)
5% (restaurants) 2% (manufacturers) |
| gptkbp:digitalPayment |
encouraged
|
| gptkbp:eWayBill |
required for movement of goods above threshold
|
| gptkbp:excludes |
educational services
healthcare services essential goods |
| gptkbp:filingMethod |
annually
monthly quarterly |
| gptkbp:fullName |
gptkb:Goods_and_Services_Tax
|
| gptkbp:governedBy |
gptkb:GST_Council_(India)
|
| gptkbp:hasComponent |
gptkb:CGST
gptkb:IGST gptkb:SGST gptkb:UTGST |
| https://www.w3.org/2000/01/rdf-schema#label |
GST (Goods and Services Tax)
|
| gptkbp:impact |
increased tax compliance
reduced tax evasion simplified tax structure |
| gptkbp:inputTaxCredit |
available
not available for blocked credits |
| gptkbp:introducedInIndiaOn |
1 July 2017
|
| gptkbp:leviedBy |
supply of goods
supply of services |
| gptkbp:notableCollection |
gptkb:government
state governments |
| gptkbp:objective |
create a unified national market
eliminate cascading effect of taxes |
| gptkbp:penalty |
interest
cancellation of registration late fee |
| gptkbp:rateStructure |
multiple rates
|
| gptkbp:rating |
5%
0% 12% 28% 18% |
| gptkbp:replacedBy |
purchase tax
luxury tax multiple indirect taxes service tax central excise duty advertisement tax VAT (Value Added Tax) central sales tax entertainment tax entry tax lottery tax octroi |
| gptkbp:requires |
gptkb:GSTIN_(Goods_and_Services_Tax_Identification_Number)
GST registration |
| gptkbp:result |
gptkb:GSTR-1
gptkb:GSTR-3B gptkb:GSTR-9 GSTR-10 GSTR-11 GSTR-4 GSTR-5 GSTR-6 GSTR-7 GSTR-8 |
| gptkbp:reverseChargeMechanism |
applicable in certain cases
|
| gptkbp:thresholdTurnoverIndia |
₹20 lakh (services)
₹40 lakh (goods) |
| gptkbp:type |
indirect tax
|
| gptkbp:website |
https://www.gst.gov.in/
|
| gptkbp:bfsParent |
gptkb:New_Zealand_economy
gptkb:Public_Finance_of_India |
| gptkbp:bfsLayer |
7
|