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Home Acts & Rules Bill GST - Draft-Bills-Reports Faq On GST (2nd Edition) Dated 31.3.2017 Chapter 1 = Overview of Goods and Services Tax (GST) Chapters List This

Overview of Goods and Services Tax (GST) - Faq On GST (2nd Edition) Dated 31.3.2017
Chapter: 1
Overview of Goods and Services Tax (GST)
Question 1 : What is Goods and Services Tax (GST)?
Question 2 : What exactly is the concept of destination based tax on consumption?
Question 3 : Which of the existing taxes are proposed to be subsumed under GST?
Question 4 : What principles were adopted for subsuming the above taxes under GST?
Question 5 : Which are the commodities proposed to be kept outside the purview of GST?
Question 6 : What will be the status in respect of taxation of above commodities after introduction of GST?
Question 7 : What will be status of Tobacco and Tobacco products under the GST regime?
Question 8 : What type of GST is proposed to be implemented?
Question 9 : Why is Dual GST required?
Question 10 : Which authority will levy and administer GST?
Question 11 : Why was the Constitution of India amended recently in the context of GST?
Question 12 : How a particular transaction of goods and services would be taxed simultaneously under Central GST (CGST) and State GST (SGST)?
Question 13 : What are the benefits which the Country will accrue from GST?
Question 14 : What is IGST?
Question 15 : Who will decide rates for levy of GST?
Question 15. : What would be the role of GST Council?
Question 16 : What is the guiding principle of GST Council?
Question 17 : How will decisions be taken by GST Council?
Question 18 : Who is liable to pay GST under the proposed GST regime?
Question 19 : What are the benefits available to small tax payers under the GST regime?
Question 20 : How will the goods and services be classified under GST regime?
Question 21 : How will imports be taxed under GST?
Question 22 : How will Exports be treated under GST?
Question 23 : What is the scope of composition scheme under GST?
Question 24 : Whether the composition scheme will be optional or compulsory?
Question 25 : What is GSTN and its role in the GST regime?
Question 26 : How are the disputes going to be resolved under the GST regime?
Question 27 : What is the purpose of Compliance rating mechanism?
Question 28 : Whether actionable claims liable to GST?
Question 29 : Whether transaction in securities be taxable in GST?
Question 30 : What is the concept of Information Return?
Question 31 : Different companies have different types of accounting software packages and no specific format are mandated for keeping records. How will department be able to read into these complex software?
Question 32 : Is there any provision in GST for tax treatment of goods returned by the recipient?
Question 33 : What is Anti-Profiteering measure?
 

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