5/7/2015

(3)WhatisDualGST(GoodsandServicesTax)inIndia?Quora

WhatisDualGST(GoodsandServicesTax)in
India?

17WANTANSWERS

There'smoreonQuora...
Picknewpeopleandtopicstofollow
andseethebestanswersonQuora.

TherearealreadysomegoodquestionsandanswersonwhatGSTisand
whatitsadvantagesanddisadvantagesare.

Latestactivity:25Apr

WhatisGST?HowwillitworkinIndia?
WhatarethegoodandthebadsidesofGST?
HowisGSTbeneficialtotheIndianeconomyascomparedtoVATandother
taxes?
...(more)

QUESTIONTOPICS

GoodsandServices
Tax(GST)

WantAnswers 17
TaxesinIndia
TaxPolicy

Comment Share Downvote

4ANSWERS

ASKTOANSWER

UpdateYourInterests

RELATEDQUESTIONS

WhodoestheGoodsandServicesTax
(GST)inIndiaactuallyfavour?
HowwilltheGoodsandServicesTax
(GST)workinIndia?Andhowisitany
differentthanValueAddedTax(VAT)?

EconomyofIndia
Whatarethegoodsidesandthebad
sidesofGST(goodsandservicestax)?

SatishKumar

Economicsof
EverydayLife

EditBiographyMakeAnonymous

WherecanIfindgoodcontenttoread
aroundthecurrentindirecttaxation
systeminIndia,thenewproposedGST
&achron...

Writeyouranswer,oranswerlater

Taxes
Economics

GurmeetHeera,Econfriendly

India
EditTopics

Tldr
DualGSTisatypeofGSTinwhichbothcenterandstategovernmentswilllevy
GSTseparately,ratherthancenteralonelevyingtaxesandsharingtheir
revenueswiththestates.Theywillhavedifferentratesandpossiblydifferent
commoditiesandservicesinwhichtheyarelevied.
DualGSTispreferredincountrieswherethereisafederalstructureofthe
government.Asinthissystemstateswouldbeindependentintheirrevenue
sourcesandtheydon'thavetorelyoncentertosharetherevenuesthatthey
collect.Thisisimportantasitwillreducetheconflictbetweencenterand
stateoverrevenuedistribution.

SHAREQUESTION

Twitter
Facebook

QUESTIONSTATS

Views
WantAnswers

Whatisgoodsandservicestax?What
effectswillnationalizingGSTbring?

10upvotesbyRajeevSingh,AnoobRazak,PSnehaSudarshan,(more)

5,083
17

Edits

Downvote Comments 1+

Whatisagoodsandservicestax?
Howwouldimplementingataxonall
Indiangoodsandservicesreducethe
priceofthegoodsandservices?
HowwillGST(GoodsandServicesTax)
affectwholesalers/distributors?
WhatisGSTBill?Howwillitaffectthe
commonmanandtheeconomy?

GSTwillbeleviedinIndiaunderthisstructureonly.
Written14Sep,2014.3,510views.

Upvote 10

WilltheproposedGoodsandServices
Tax(GST)boosttheIndianeconomy?

MoreRelatedQuestions

Share

YogitaKarache,VIndiansdefintlydontvaluelabour...(more)
7upvotesbyGurmeetHeera,AnoobRazak,JanhaviBorawakeMorse,(more)

Meaning:

Search

TheGoodsandServicesTax(GST)isacomprehensivevalueaddedtax
(VAT)onthesupplyofgoodsorservices.Francewasthefirstcountryto
introducethisvalueaddedtaxsystemin1954devisedbyapublicservant.In
India,duetononconsensusbetweencentralandstategovernment,the
proposalistointroduceaDualGSTregimei.e.CentralandStateGST.
Home

Write

Notifications

Satish

AddQuestion

DualGST:
ManycountriesintheworldhaveasingleunifiedGSTsystemi.e.asingle
taxapplicablethroughoutthecountry.However,infederalcountrieslike
BrazilandCanada,adualGSTsystemisprevalentwherebyGSTisleviedby
boththefederalandstateorprovincialgovernments.InIndia,adualGSTis
proposedwherebyaCentralGoodsandServicesTax(CGST)andaState
GoodsandServicesTax(SGST)willbeleviedonthetaxablevalueofevery
transactionofsupplyofgoodsandservices.
http://www.quora.com/WhatisDualGSTGoodsandServicesTaxinIndia

1/3

5/7/2015

(3)WhatisDualGST(GoodsandServicesTax)inIndia?Quora

ImpactonPricesofGoodsandServices:
TheGSTisexpectedtofosterincreasedefficienciesintheeconomicsystem
therebyloweringthecostofsupplyofgoodsandservices.Further,inthe
Indiancontext,thereisanexpectationthattheaggregateincidenceofthe
dualGSTwillbelowerthanthepresentincidenceofthemultipleindirect
taxesinforce.Consequently,theimplementationoftheGSTisexpectedto
bringabout,ifnotintheneartermbutinthemediumtolongterm,a
reductioninthepricesofgoodsandservices.Theexpectationisthatthe
dealerswouldstartpassingonthebenefitofthereducedtaxincidenceto
thecustomersbywayofreducedprices.Asregardsservices,itcouldbethat
theirshorttermpriceswouldgoupgiventheexpectationofanincreasein
thetaxratefromthepresent10%toapproximately14%to16%.
BenefitsofDualGST:
TheDualGSTisexpectedtobeasimpleandtransparenttaxwithoneor
twoCGSTandSGSTrates.ThedualGSTisexpectedtoresultin:
reductioninthenumberoftaxesattheCentralandStatelevel
decreaseineffectivetaxrateformanygoods
removalofthecurrentcascadingeffectoftaxes
reductionoftransactioncostsofthetaxpayersthroughsimplifiedtax
compliance
increasedtaxcollectionsduetowidertaxbaseandbettercompliance
Certaintyofimplementation:TheFinanceMinisterhasmadeacategorical
statementinParliamentthatGSTwillbeimplementedonApril1,2013.In
hissubsequentmediainteractions,hehasfurtherindicatedthatheiskeen
toimplementtheGSTevenifsomeoftheStatesarenotreadyorwillingto
implementGSTbythisdate.Accordingly,basedonthepresentindications,
Upvote
asalsoonthebasisofoursubsequentinteractionswithseniorGovernment
7
Downvote Comment Share
Officials,webelievethattheApril1,2013timelineforintroductionofthe
dualGSTwillbemet.
Whowouldbeimpacted:
Allbusinesses,whetherengagedinsales/supplyofgoodsorsupplyof
services,wouldbeimpactedbyGST.Theimpactwouldbeonsupplychains,
ERP,productpricing,dealermarginsetc
SourcesPageontaxguru.in
Written15Sep,2014.1,337views. SuggestEdits

ManthanVijayShah,Historyandpolitics<3
2upvotesbyAbhishekSrivastavaandPrateekAggarwal.

Ireallydidn'tknowmuchaboutthistopic....soitwouldbeawastetocopythe
samefromvariouswebsitesorwiki.....buthere'sagoodexplanationaboutdual
GSTwhichwasproposedin2010.
http://gstindia.com/about.php
ManynewspaperslikeDNAetc.Copieditfromheresolet'sgivecredittothe
personwhowrotethisandsimplifiedRBI'sdetailedexplanationunfitfor
layman.

Prosandcons:
http://m.economictimes.com/polic...

HopethishelpsandI'msorryofIcouldn'tdojusticetothisanswerforyour
question:)
http://www.quora.com/WhatisDualGSTGoodsandServicesTaxinIndia

2/3

5/7/2015

(3)WhatisDualGST(GoodsandServicesTax)inIndia?Quora

Written17Sep,2014.843views.AskedtoanswerbyAnoobRazak.

Upvote

Downvote Comment Share

AmbujAgrawal,StudentpersueingBBA
Bothstateandcentralgovernmenttakestaxes
Written17Sep,2014.574views.

Upvote

Downvote Comment Share

TopStoriesfromYourFeed

http://www.quora.com/WhatisDualGSTGoodsandServicesTaxinIndia

3/3