Skip to main content

News and Updates

Never give up

Failure is only opportunity  to begin again, this time more intelligently.            -Henry Ford World is a movie of ups and downs, we all are its main characters  trying to make our way up to the top. Only thing which makes the difference is our attitude, that do we push forward to overcome problems  or just simply  give up. Never give up doesn't mean to keep doing same thing in same way what we need is to analyze and be smart enough to change when needed. A real life example of the physi. Of never give up is " Japan " a country which has faced nuclear bombings and still face tsunami  and earthquakes  from time to time. But still it bounce back. Your life is in your hand you are its director, give it an ending  you like. Just have courage and stand up to the problems. One thing you need is " never give up".

Goods and Services Tax

Everyone may have heard about GST up to this point. GST is for Goods & Services Tax, which is a national tax levied on the manufacture, sale, and consumption of goods and services that makes no distinction between goods and services for taxation. It will largely replace all indirect taxes levied by the Indian central and state governments on goods and services. In India, The Atal Bihari Vajpayee government proposed the introduction of GST in 2000. The Goods and Service Tax Act was passed by Parliament on March 29, 2017, and into effect on July 1, 2017. To put it another way, the Products and Service Tax (GST) is a tax that is levied on the provision of goods and services.

For the purpose of tax collection, it was split into five tax slabs: 0%, 5%, 12%, 18%, and 28 percent. Individual state governments tax petroleum goods, alcoholic beverages, electricity, and real estate separately. Rough precious and semi-precious stones are taxed at a special rate of 0.25 percent, while gold is taxed at 3%. Furthermore, a 22 percent cess or other charges on top of the 28 percent applies to few things, such as aerated drinks, expensive cars, and tobacco products, are subject to GST. Pre-GST, most commodities had a statutory tax rate of around 26.5 percent; post-GST, most goods are likely to have a tax rate of around 18 percent. 


One of the main goals of the Products and Service Tax (GST) is to avoid double taxation or the effects of taxes on the cost of production and delivery of goods and services. The elimination of cascading effects, i.e. tax on tax till ultimate consumers, will considerably improve the competitiveness of original goods and services in the market, resulting in a positive influence on the country's GDP growth. It is not only desirable but also necessary, to implement a GST to replace the existing numerous tax structures of the federal and state governments. It would be conceivable to offer full credit for input taxes collected if multiple taxes were integrated into a GST system. GST, or Goods and Services Tax, is a destination-based consumption tax based on the VAT idea.

 GST Rate of other countries:-

Australia 10%

France 19.6% 

Canada 5%

Germany 19%

Japan 5%

Singapore 7%

New Zealand 15%

Types of GST :

1. CGST (Central Goods and Service Tax)

The Central Goods and Services Tax (CGST) is a federal tax on goods and services. It applies to vendors who do business within the state. The collected taxes will be shared with the central authority. 

2. SGST (State Goods and Service Tax) 

A state's Goods and Services Tax (SGST) is a tax on goods and services. It applies to vendors who do business in the state. The collected taxes will be distributed to the appropriate state authority.

3. IGST (Integrated Goods and Service Tax)

The Integrated Goods and Services Tax (IGST) is a type of tax that applies to both goods and services. It is relevant to suppliers who do interstate and import operations. The collected taxes will be split between the federal and state governments.


4. UTGST (Union Territory Goods and Services Tax)

 The UTGST is levied on supplies made in the Union Territories of the Andaman and Nicobar Islands,

Chandigarh, Dadra and Nagar Haveli, Daman and Diu, and Lakshadweep.

GST Advantages

  1. GST is an easy-to-understand tax that also reduces the number of indirect taxes.
  2. There will be no hidden taxes and the cost of conducting business would be cheaper because GST will not be a burden to registered shops.
  3. People will benefit because prices will drop, which will boost businesses since consumption will rise.
  4. Separate taxes for goods and services, as is the current taxation system, necessitate the split of transaction values into the value of products and services for taxation, resulting in increased complexities, administrative, and compliance expenses.
  5. When all of the taxes are integrated into the GST system, the tax burden can be divided evenly between manufacturing and services.
  6. GST will be levied only at the ultimate point of consumption, following the VAT principle, and not at numerous stages along the way (from manufacturing to retail outlets). This will aid in the removal of economic distortions and the creation of a common national market.
  7. GST will also aid in the creation of a transparent and anti-corruption tax administration. Currently, a tax is assessed when a finished product leaves a factory, which is paid by the manufacturer, and it is levied again when the product is sold at a retail outlet.
  8. GST is supported by the GSTN, a fully integrated tax infrastructure that handles all aspects of the tax.


According to some economists, GST in India might have a detrimental impact on the real estate sector. It would raise the cost of new homes by up to 8% and diminish demand by roughly 12%.

According to some experts, CGST (Central GST) and SGST (State GST) are simply new names for the Central Excise/Service Tax, VAT, and CST. As a result, the number of tax levels does not decrease significantly.

Currently, only 4% of retail products are subject to tax. Garments and clothing may become more expensive after the GST is implemented.

It would have an impact on the aviation sector. Currently, service taxes on airfares range from 6% to 9%. With GST, the rate will rise to over 15%, nearly doubling the tax rate.

The entire ecosystem would experience teething problems and learn as a result of the adoption and migration to the new GST system.

Popular posts from this blog

Doctrine of Notional Extension under the Workmen Compensation Act, 1923

  There is no problem in detecting that the accident occurred in the course of employment when a workman is injured in the working place and in the working hour and doing his duty. The problem arises when these elements do not coincide together. But a workmen if injured just near the work premises or just before joining the work or in the way to work problem arises. To address this kind of problem and giving some kind of relief to the workmen the theory of notional extension evolved. “As a rule, the employment of a workman does not commence until he has reached the place of employment and does not continue when he has left the place of employment, the journey to and from the place of employment being excluded. It is now well-settled, however, that this is subject to the theory of notional extension of the employer’s premises so as to include an area which the workman passes and repasses in going to and in leaving the actual place of work. There may be some reasonable extension in bot

Peace - A Way Of Life

To be peaceful is the sign of a conqueror.  We have often heard people saying 'follow the path of peace and you will be happy', 'preach peace' and many other phrases emphasising on a way of living- Peace. But what is it really about?  With reference of the holy Bible, peace is defined with notions like  totality or completeness, success, fulfillment, wholeness, harmony, security and well being.  The definition of peace changes with mindsets of people. For one, it is a sense of accomplishment, non- violence for another, salvation to a few and a lot more to others. But what peace exactly is? And how can we attain it? Peace is acceptance. A vision of seeing things and extracting optimism out of it. Peace makes life easier. To be satisfied is what peace is. To be able to look back at your life and accept all its darks and jewels is what peace feels like. Peace is a state of mind where your soul feels calm, free from the dirt of hatred, negativity, criticism, inferiority and

Appearance vs Reality of Merchant of Venice

One of the greatest writers of history is Shakespeare. William Shakespeare was an English playwright, poet, and actor, widely regarded as the greatest writer in the English language and the world's greatest dramatist in the history of English literature. He has written many masterpieces. In which are are Macbeth, Othello, Romeo and Juliet extra etc.  In which Merchant of Venice is one. The storyline of the play goes : The play commences on a street in Venice. Shakespeare introduces the central character of the play, Antonio, as a Merchant of power and influence. Bassanio, his friend, confesses to him that he is in love with Portia, a rich heiress of Belmont. To present himself as an eligible suitor to Portia, he seeks a loan from Antonio. Antonio has no money in hand to lend as his fortunes are tied up with his ships at sea. However, he promises to help us Bassanio to take a loan from money lenders using his(Antonio's)name. The entire play is based on the scenario that happens