gst in india  


VAT Service Tax India
Service Tax New Delhi
Central Excise and Service Tax
Service Tax Cenvat
Service Tax Exemption
Service Tax Tribunal

Justification of GST
Preparation for GST
Purchase Tax of GST
GST Rate Structure
VAT at the Central & State level
Goods & Services Tax Model For India
Central and State Taxes under GST
Special Industrial Area Scheme
Inter-State Transactions of Goods
Rules for CGST and SGST
Implementation of GST

GST - Impact on software industries

Advantages

  • Compliance cost and level:
  • Variety of numerous taxes shall get reduced to just one or two taxes which may result in decrease in compliance cost and increase in compliance level.

  • No uncertainty in taxes
  • The taxes getting reduced to just one or two i.e CGST and SGST, there may not be any debate on concepts like whether software is “goods” or “service”. GST may also resolve confusion in the minds of the assessee, about which taxes to be paid and what credits to be availed for set off.

  • Input credits
  • CGST and SGST both being levied the credit of taxes paid under respective tax laws can be availed seamlessly.

  • Unutilized credits
  • Unutilized Cenvat credit is not allowed to a local player who does not have any exports. Under the proposed GST law the balance of unutilized Cenvat credit of GST at the month / year end is likely to be refunded irrespective of the fact whether such person is exporter or not.

Disadvantages

  • Services
  • IT enabled services and the services in relation to software may become costlier in the hands of ultimate Indian customer as instead of one tax (Service Tax @10.30%), under GST regime there will be two taxes viz. CGST and SGST.

 

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