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 Software Industry - Global Practices

Different countries follow different practice to tax transactions. For the sake of brevity only the following important points have been discussed hereunder:

European Union:

  • UK VAT law provides exemption to goods and services imported from other country into UK.
  • Normally there being a single tax of VAT, it helps avoiding the debate of goods vs. service and also multiple / double taxation on the same transaction.
  • Unrestrictive set off credit is another virtue prevailing in EU which can be brought into the Indian GST.
  • From 1.1.2010, EU is moving to a different place of supply rules and the country of consumption shall levy tax in most of the business to business transations.

Canada:

  • Similar to India, Canada has federal tax system, whereby both central and States levy GST on similar transaction.
  • In Canada, different States levy tax at different rates.
  • Customised software, packaged software and software on licence basis are being recognized differently and being taxed accordingly.

Australia:

  • In Australia GST is levied on goods being sold and services supplied
  • GST is leviable on almost all goods and services barring a few.
  • Simple definitions of goods and services are provided.

 

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