Why GreenGST? Why Moglix?
GST will not only impact your taxation, it is bound to impact your Supply Chain. In manufacturing, there is tax liability at every step. At Moglix, we know Supply Chain like no other so while others claim to make you GST compliant, we guarantee an entire compliant Supply Chain.
Key impact areas – GreenGST solution
Key impact areas GreenGST solution
Frequently Asked Questions
What is Goods and Services act?
GST is a destination based tax on consumption of goods and services. It is proposed to be charged at every stage right from manufacturer up to final consumption with credit of taxes paid at previous stages available as set off. To sum up, just the value addition will be subject to tax and the major burden will be borne by the end consumer.
Which are the commodities proposed to be kept outside the purview of GST?
Alcohol for human consumption, Petroleum Products viz. petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel& Electricity.
What will be status of Tobacco and Tobacco products under the GST regime?
Tobacco and tobacco products would be liable to GST. Moreover, the centre would be appointed to levy central excise duty on these products, periodically.
Why is Dual GST required?
Pertaining to the fact that India is a federal country, both, the centre and the states have been awarded the powers to levy and collect taxes through appropriate legislation. Both levels have distinct responsibilities, which is to perform according to the division of powers prescribed in the constitution for which they need to generate resources. A dual GST will, therefore, be in keeping with the Constitutional requirement of fiscal federalism.
How will Exports be treated under GST?
Exports are lucky enough to be exempted from GST. However, credit of input tax credit will be available as refund to the exporters.
Whether the composition scheme will be optional or compulsory?
It is optional.
Latest From GSTN
Does aggregate turnover include value of inward supplies received on which RCM is payable?
Refer Section 2(6) of CGST Act.Aggregate turnover does not include value of inward supplies on which tax is payable on reverse charge basis.
I have a pending export refund in Service Tax. What will happen?
Refunds under earlier laws will be given under the respective laws only.
What will be the impact of GST on coal? Will the clean energy Cess on coal go or will it stay?
Clean Environmental Cess on coal will be replaced by GST Compensation Cess.
Suppose I am in composition scheme in GST. If I purchase goods from unregistered person, then GST will be paid to Government by me or not?
Yes, you will be liable to pay tax on reverse charge basis for supplies from unregistered person.
What duties will be levied on import of goods?
Customs duty and cess as applicable + IGST+ GST compensation cess. IGST and GST compensation cess shall be paid after adding all customs duty and customs cess to the value of imports.
Present Procedures have Service Tax on Nepal, But no Goods Tax on Nepal. But, With GST, what tax will apply?
The export procedure for Nepal would be same as that to other Countries.