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This book explains and examines various aspects of GST, in simple, lucid and non-technical language. The book is organized into two Parts. Part I, consisting of five chapters, provides conceptual clarities as regards taxation of goods and services and describes pre-GST indirect tax system of India. Chapter 1 is focused on the conceptual framework. Chapter 2 explains the erstwhile system of Union excise duties/CENVAT levied by the Central Government. Chapter 3 is devoted to the taxation of services by the Central Government during pre-GST period. Likewise, chapter 4 describes the now-abolished sales tax/VAT system of State Governments. Chapter 5 recalls the problems created by multiple taxation of goods by the Centre and the States. Part II, comprising thirteen chapters, records the circumstances leading to the introduction of GST, its present structure and future challenges. Chapter 6 explains the current constitutional provisions pertaining to taxes in India. Chapter 7 traces the various stages of evolution of GST before being finally rolled out on July 1, 2017. Chapter 8 is devoted to GST Council, its various meetings, discussions and decisions. Chapter 9 explains the meaning, justification and components of GST. Chapter 10 sets forth the salient features of GST. Chapter 11 explains the working mechanism of GST with suitable numerical examples. Chapter 12 explains the exemptions, thresholds and rate structure under GST. Chapter 13 deals with the administrative aspects of GST. Chapter 14 focuses on the technological infrastructure and institutional arrangements for the successful implementation of GST. Chapter 15 examines the implications of GST for various sectors of the Indian economy. Chapter 16 views GST from the angle of India’s federal polity. Chapter 17 delves into future challenges facing GST. Chapter 18 gives a brief account of GST in select countries of the world. There are also 4 appendices to the book. Appendix 1 reproduces Constitution (One Hundred and First Amendment) Act, 2016. Appendix 2 lists main provisions of the Model GST Law (MGL) prepared by the GST Council and released in November 2016. Appendix 3 contains GST rates for services. Appendix 4 gives a brief description of services exempted from GST. Select bibliography, subject index and name index also form part of the book.
|Title||Goods and Services Tax (GST) in India|
|Sub Title||Background, Present Structure and Future Challenges|
|Publisher||New Century Publications|
Goods and Services Tax (GST) in India, Author: M.M. Sury, Category: Book, ISBN: 9788177084573, Condition: New."