Hello All,
Goods and Services Tax (GST) is a proposed taxation system aimed at restructuring the overall indirect taxation in India. It is expected that GST would be implemented w.e.f. July 1st, 2017.
The proposed GST would be a dual tax that allows both the Centre and States to simultaneously levy it on a common tax base.
GST would be applicable only on supply of goods/services, which is totally against the present concept of tax not only on the manufacture or on sale of goods, but also on provision of services.