Goods and Services Tax Act, 2017

GPTKB entity

Statements (65)
Predicate Object
gptkbp:instanceOf Indian legislation
gptkbp:administeredBy gptkb:Central_Board_of_Indirect_Taxes_and_Customs
gptkbp:amendedBy 101st Constitutional Amendment Act, 2016
frequently amended
gptkbp:appealMechanism available
gptkbp:appliesTo goods
services
gptkbp:auditProvision included
gptkbp:basisFor destination-based consumption tax
gptkbp:chapter 21
gptkbp:composition available for small taxpayers
gptkbp:country gptkb:India
gptkbp:dateEnacted 12 April 2017
gptkbp:district gptkb:GST_Council
gptkbp:dividesGST Central GST (CGST)
Integrated GST (IGST)
State GST (SGST)
Union Territory GST (UTGST)
gptkbp:enactedBy gptkb:Parliament_of_India
gptkbp:eWayBill mandated for movement of goods
gptkbp:excludes certain goods and services
gptkbp:GSTCouncilChairperson Union Finance Minister
gptkbp:GSTCouncilMembers State Finance Ministers
https://www.w3.org/2000/01/rdf-schema#label Goods and Services Tax Act, 2017
gptkbp:inputTaxCredit available
gptkbp:language gptkb:Hindi
English
gptkbp:objective One Nation, One Tax
gptkbp:penalty prescribed for non-compliance
gptkbp:purpose to introduce a unified indirect tax system in India
gptkbp:rateStructure 0%, 5%, 12%, 18%, 28%
gptkbp:registration mandatory above threshold
gptkbp:relatedLegislation gptkb:Union_Territory_Goods_and_Services_Tax_Act,_2017
Integrated Goods and Services Tax Act, 2017
Goods and Services Tax (Compensation to States) Act, 2017
gptkbp:replacedBy gptkb:Entry_Tax
gptkb:Octroi
gptkb:Service_Tax
gptkb:Value_Added_Tax_(VAT)
gptkb:Central_Excise_Act,_1944
gptkbp:result monthly, quarterly, annual
gptkbp:reverseChargeMechanism applicable
gptkbp:section 174
gptkbp:shortName gptkb:GST_Act
gptkbp:startDate 1 July 2017
gptkbp:taxesMerged gptkb:Central_Excise_Duty
gptkb:Central_Sales_Tax
gptkb:Entry_Tax
gptkb:Luxury_Tax
gptkb:Purchase_Tax
gptkb:Service_Tax
gptkb:State_VAT
Entertainment Tax
Additional Customs Duty
Additional Excise Duties
Cesses and surcharges
Special Additional Duty of Customs
Taxes on advertisements
Taxes on lotteries, betting and gambling
gptkbp:threshold Rs. 10 lakhs (special category states)
Rs. 20 lakhs (general)
gptkbp:type gptkb:tax_law
gptkbp:website https://www.gst.gov.in/
gptkbp:bfsParent gptkb:Act_of_Parliament
gptkbp:bfsLayer 4