GOODS & SERVICES TAX (GST) CONSULTANTS
The GST journey began in the year 2017, and since then, it has come a long way in shaping our economy. All matters like registration, form filing, application for refund, or finding goods and service tax consultant in India etc. are taken care of by our skilled and efficient Chartered Accountants. It is our sole purpose and duty to take part in and to give way to a robust and open discussion surrounding accountable GST, increased transparency and the ensuring of taxation in an increasingly digitized and globalized world. The first mention about GST dates back to 2000 when the then Prime Minister of India, Shri Atal Bihari Vajpayee set up an Empowered committee to draft a review on GST under the headship of Asim Dasgupta, the then Finance Minister of West Bengal. Since then GST has moved through different phases of consideration, modification and ratification spanning over a period of 17 years before getting launched at the stroke of the midnight hour on 30th June-1st July 2017 by the President of India under the name of the Constitution (One Hundred and First Amendment) Act, 2016. Promoted under the flagship of “One Nation, One Tax”, the historic move has been touted as the single biggest tax reform since the independence of India and has been symbolically considered as synonymous to the movement of political unification carried out by Sardar Vallabhbhai Patel during 1947-48.
The GST Council exempted national permit fees charged by states for operation of products carriage. A discount in GST rate on biodiesel -supplied to OMCs for blending with diesel-from 12% to five was also announced. The Council approved increasing the rates of GST on railway parts and locomotives to 18% from this 12%. An inverted duty scheme on footwear and textiles is going to be corrected from January 1, 2022, said Sitharaman. Now 12% GST is going to be applicable on specific renewable devices and pens will now attract a single GST rate of 18%.
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