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Goods and Service Tax (GST) Consultant


Goods and Service Tax is a Single & Unified Tax for the whole nation on the supply of Goods and services starting from Manufacturer/Service Provider and ends with consumer/Service receiver. It makes India a Unified common market.

GST is a tax on goods and services with value addition at each stage having comprehensive and continuous chain of benefits from producer to the retailer, where final consumer should bear the tax.

GST is Implementation:

The Central Government declared that GST will come into force from 1st July, 2017.

GST will be applicable for all over India including the state of Jammu & Kashmir.

Objectives of GST:

The main objective is to remove all multiple indirect taxes on goods and services like customs, service tax, VAT etc. and to make a single unified tax called Goods and Service Tax.

The other objective of GST is to eliminate the cascading impact of taxes on production and distribution cost of goods and services. The elimination of cascading effect (means tax on tax) results in competitiveness in the goods and services that help in the GDP growth of Nation.

Taxes subsuming into GST:

The following taxes gets subsumed into the GST:

At Central Level: Excise Duty, Service Tax, Customs duty, additional custom duty, Central surcharges and cesses.

At State Level: VAT, Entertainment Tax, Central Sales Tax, Octroi and Entry tax, purchase Tax, Luxury Tax, Taxes on lottery, betting and gambling.

Model of GST:

The Central Government has proposed the dual system for imposing the tax, GST shall have two components i.e.

Central GST is levied by the Central Government (CGST).

State GST is levied by the State Government (SGST).

Impact of GST on Different Sectors:

Agriculture: GST is essential in improving transparency, reliability and timeliness of supply chain management. GST will help the agriculture market more efficient as all taxes subsumed into single rate, it also helps in reducing the cost of heavy machinery required for producing the agricultural commodities.making the movement of agricultural commodities across states. Transportation time and wastage, especially in case of perishables.

Manufacturing: GST is expected to boost the manufacturing, since the removal of cascading taxation will bring down the production costs. Easy movement across state borders will make process of supply & transportation of raw materials, finished &semi-finished products.

Service Sector: Currently service sector is contributing significantly in exports and large scale employment. Now GST helps in increasing the government revenue through tax rate ranging from 18% to 26% which will makes the services costlier.

Impact of GST on Gross Domestic Product (GDP):

After implementation of GST the export of Goods and Services will become more competitive because of nil effect of cascading effect of taxes on goods and products. In a research conducted by the NCAER (National Council of Applied and Economic Research) suggested that GST would be key revolution in Indian Economy and it could increase the GDP by 0.9 to 1.7 percent.

As GST will subsume all the indirect taxes, the exemption available to the manufacturers in regard of excise duty will be taken off which will be addition to the Government’s revenue and it could result in increase in GDP.

Benefits of GST:

1. Uniformity of Tax rates across all states in India.

2. Better compliance due to less average tax rate, less tax rate helps in growth of economy.

3. Many indirect taxes in state and central will be included by GST, we need to pay single GST instead of all.

4. GST helps in leading higher revenue efficiency due to decrease in cost of collection of tax revenues.

5. It helps in better control on leakage due to seamless transfer of input tax credit from one stage to another stage.

6. Elimination of multiplicity of taxes and their cascading effects.

Registration Process:

The Major feature of registration process is

Existing dealers: Existing VAT/ST payers will not have to apply fresh registration under GST, They just need to get migration.

New dealers need to fill single application online for registration.

The registration number will be pan based and will serve for the both authorities (i.e Central & State).

Each dealer to be given ID GSTIN.

For any further information regarding the Registration, click the following link


The information contained in this article is for general information purposes only. While the article endeavours to keep the information up to date and correct, there is no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the content of the article.

Where to find us

Goods and Service Tax (GST) Consultant