Goods and Services Tax (GST)

URI: https://gptkb.org/entity/Goods_and_Services_Tax_(GST)

GPTKB entity

Statements (68)

Predicate	Object
gptkbp:instanceOf	indirect tax
gptkbp:administeredBy	gptkb:GST_Council_(India)
gptkbp:amendedBy	gptkb:101st_Amendment_(India)
gptkbp:appliesTo	gptkb:Australia gptkb:Canada gptkb:India gptkb:New_Zealand gptkb:Singapore businesses above threshold turnover interstate transactions intrastate transactions
gptkbp:compositionSchemeAvailable	yes
gptkbp:compositionSchemeLimit	₹1.5 crore (India)
gptkbp:compositionSchemeTaxRate	1% (traders) 5% (restaurants) 6% (service providers)
gptkbp:enables	gptkb:Central_Goods_and_Services_Tax_Act,_2017_(India) gptkb:Integrated_Goods_and_Services_Tax_Act,_2017_(India) gptkb:State_Goods_and_Services_Tax_Act,_2017_(India) gptkb:Union_Territory_Goods_and_Services_Tax_Act,_2017_(India)
gptkbp:exemptedItems	alcohol for human consumption (India) electricity (India) petroleum products (India)
gptkbp:filingMethod	annually monthly quarterly
gptkbp:goal	increase tax compliance simplify tax structure avoid tax cascading unify indirect taxes
gptkbp:hasAnnualReturnRequirement	yes
gptkbp:hasAuditRequirement	yes (above threshold)
gptkbp:hasEWayBillSystem	yes
gptkbp:hasHSNCodeRequirement	yes
gptkbp:hasSACCodeRequirement	yes
gptkbp:hasSlab	5% 0% 12% 28% 18%
gptkbp:hasType	gptkb:CGST gptkb:IGST gptkb:SGST gptkb:UTGST
https://www.w3.org/2000/01/rdf-schema#label	Goods and Services Tax (GST)
gptkbp:implementedIn	1 July 2017 (India)
gptkbp:inputTaxCreditAvailable	yes
gptkbp:isDestinationBased	yes
gptkbp:leviedBy	supply of goods supply of services
gptkbp:notableCollection	gptkb:Central_Government_(India) gptkb:State_Governments_(India)
gptkbp:penalty	yes
gptkbp:rateVariesBy	gptkb:Country type of goods or services
gptkbp:refundAvailable	yes
gptkbp:replacedBy	gptkb:Central_Excise_Duty_in_India gptkb:Service_Tax_in_India gptkb:Value_Added_Tax_(VAT)_in_India
gptkbp:requires	gptkb:GSTIN_(Goods_and_Services_Tax_Identification_Number) GST registration
gptkbp:reverseChargeMechanism	applicable in certain cases
gptkbp:thresholdTurnover	₹20 lakh (India, services) ₹40 lakh (India, goods)
gptkbp:website	https://www.gst.gov.in/
gptkbp:bfsParent	gptkb:Brian_Mulroney gptkb:Canada_Revenue_Agency
gptkbp:bfsLayer	5