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your Business?
Procedural
Financial Impact of GST the financial impact arises on
account ofsubsuming of tax into GSTand the availability of
credit on some of the taxes which was not available earlier.
The credit of Octroi, Entry Tax, Luxury Tax was not available.
All these taxes will subsume in GST.
b. The vehicles
have
to will
wait
at Impact
Octroi Naka for hours together
Analyse
How
GST
your of
Business?
for payment
octroi.
.The octroi will be abolished from the appointed date i.e. from
01/04/2017.
.Therefore, the cost of procuring the material will reduce.
.It will heavily benefit the transporters, as the turn-around of
vehicles will considerably increase, as vehicles will not have
to wait at Naka.
No duty is payable
the
increased due to
Analyse on
How
willvalue
GST Impact
assembly/knitting
process.
your Business?
The incidence of GST is on supply.
Even if the process does not amount to the process of
manufacture, the GST will be payable on enhanced value.
In manyAnalyse
cases like
How construction,
will GST Impactabatements have
been granted
for determining the taxable value.
your Business?
The tax is payable on abated value.
The VAT is also payable on some of the inputs.
Under the
GST How
the credit
ofImpact
SGST paid will be available to
Analyse
will GST
the service
your provider.
Business?
inward supplies.
The record keeping by them will have to be substantially
modified in order to capture the availability of credit.
1944 and
service
Analyse
Howtax
willexempting
GST Impact various goods and
services
from
payment of duty/tax.
your
Business?
Similarly, the exemptions have been granted to the
various products from payment of VAT.
There have been lot of discussion on pruning of the
exemption list.