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Indirect Taxes |
The Indian indirect tax area was a combination of many taxes and Acts at central and state levels that include Service Tax, Excise, Customs, VAT, Octroi and Professional Tax etc. The integrated tax system in the form of Goods Service Tax (GST) was implemented subsuming all the abovementioned taxes into one single tax structure.
GST is a singular indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available to the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.
At VASG, we provide advisory services regarding the procedural compliance like registration, planning, consultation, assessments etc., and the applicability and applicable rates of GST and the intricacies involved therein.
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