Goods and Services Tax (India)

GPTKB entity

Statements (103)
Predicate Object
gptkbp:instanceOf gptkb:indirect_tax
gptkbp:abbreviation gptkb:GST
gptkbp:administeredBy gptkb:Central_Board_of_Indirect_Taxes_and_Customs
gptkb:GST_Council
gptkbp:amendedBy gptkb:101st_Amendment
gptkbp:annualReturnDueDate 31st December
gptkbp:appliesTo goods
services
businesses with turnover above threshold
gptkbp:CGSTFullForm gptkb:Central_Goods_and_Services_Tax
gptkbp:composition available
gptkbp:country gptkb:India
gptkbp:dividedInto gptkb:CGST
gptkb:IGST
gptkb:SGST
gptkb:UTGST
gptkbp:enactedBy gptkb:Parliament_of_India
gptkbp:eWayBill mandatory for inter-state movement
gptkbp:excludes electricity
petroleum products
alcohol for human consumption
real estate (partially)
gptkbp:firstGSTDay 2017-07-01
gptkbp:GSTAppellateTribunal proposed
gptkbp:GSTAudit mandatory above threshold
gptkbp:GSTCompensationCess applicable on certain goods
gptkbp:GSTCompensationCessDuration 5 years from implementation
gptkbp:GSTCompensationCessFund created by central government
gptkbp:GSTCompensationCessPurpose compensate states for revenue loss
gptkbp:GSTCouncilChairperson Union Finance Minister
gptkbp:GSTCouncilDecisions by majority vote
gptkbp:GSTCouncilEstablished 2016
gptkbp:GSTCouncilMeetings periodic
gptkbp:GSTCouncilMembers State Finance Ministers
gptkbp:GSTIN Goods and Services Tax Identification Number
gptkbp:GSTInterest levied on late payment
gptkbp:GSTInvoice required for supply of goods/services
gptkbp:GSTLateFee applicable for late filing
gptkbp:GSTNetwork gptkb:GSTN
gptkbp:GSTNFullForm gptkb:Goods_and_Services_Tax_Network
gptkbp:GSTNFunction IT infrastructure for GST
gptkbp:GSTNType non-government, private limited company
gptkbp:GSTPenalty for non-compliance
gptkbp:GSTPortal https://www.gst.gov.in/
gptkbp:GSTRegistration mandatory above threshold
voluntary below threshold
gptkbp:GSTRegistrationCertificate issued online
gptkbp:GSTReturns gptkb:GSTR-1
gptkb:GSTR-3B
gptkb:GSTR-9
GSTR-10
GSTR-11
GSTR-4
GSTR-5
GSTR-6
GSTR-7
GSTR-8
gptkbp:HSNCode used for goods classification
gptkbp:IGSTFullForm gptkb:Integrated_Goods_and_Services_Tax
gptkbp:implementedIn 2017-07-01
gptkbp:inputTaxCredit available
gptkbp:inputTaxCreditMechanism prevents tax on tax
gptkbp:introducedIn Atal Bihari Vajpayee government
gptkbp:objective increase tax compliance
eliminate cascading effect of taxes
One Nation One Tax
simplify indirect taxation
widen tax base
gptkbp:passedBy gptkb:Lok_Sabha
gptkb:Rajya_Sabha
gptkbp:presidentAssentDate 2016-09-08
gptkbp:replacedBy gptkb:Advertisement_Tax
gptkb:Central_Excise_Duty
gptkb:Central_Sales_Tax
gptkb:Entry_Tax
gptkb:Lottery_Tax
gptkb:Luxury_Tax
gptkb:Octroi
gptkb:Purchase_Tax
gptkb:Service_Tax
gptkb:Value_Added_Tax_(VAT)
Entertainment Tax
gptkbp:returnsFiledOnline true
gptkbp:reverseChargeMechanism applicable
gptkbp:SACCode used for services classification
gptkbp:SGSTFullForm gptkb:State_Goods_and_Services_Tax
gptkbp:taxSlabs 5%
0%
12%
28%
18%
gptkbp:threshold ₹20 lakh for services
₹40 lakh for goods
₹10 lakh for special category states
gptkbp:type destination-based tax
consumption tax
gptkbp:UTGSTFullForm gptkb:Union_Territory_Goods_and_Services_Tax
gptkbp:website https://www.gst.gov.in/
gptkbp:bfsParent gptkb:101st_Amendment_(India)
gptkb:State_Goods_and_Services_Tax_Act,_2017_(India)
gptkb:Union_Territory_Goods_and_Services_Tax_Act,_2017_(India)
gptkbp:bfsLayer 8
https://www.w3.org/2000/01/rdf-schema#label Goods and Services Tax (India)