All%20about%20GST%2C%20the%20tax%20regime%20against%20which%20traders%20have%20called%20a%20Bharat%20bandh%20on%20Friday
The Goods and Service Tax Act was passed in Parliament on March 2017 and implemented in India from July 1, 2017
The%20Goods%20and%20Services%20Tax%20%28GST%29%20is%20an%20indirect%20tax%20levied%20on%20products.%20The%20GST%20collectively%20replaces%20other%20indirect%20taxes%20like%20excise%20duty%2C%20VAT%2C%20service%20tax.%20The%20GST%20was%20introduced%20by%20the%20UPA%20government%2C%20however%2C%20it%20was%20passed%20in%20July%202017%20after%20the%20Goods%20and%20Service%20Tax%20Act%20was%20passed%20in%20Parliament%20on%20March%202017.
GST%20is%20levied%20on%20the%20supply%20of%20goods%20and%20services%2C%20and%20divided%20into%20two%20parts%2C%20namely%20CGST%20and%20SGST.%20CGST%20is%20the%20tax%20amount%20that%20goes%20to%20the%20central%20government%20while%20SGST%20is%20the%20tax%20amount%20that%20goes%20to%20the%20state%20government.%20GST%20is%20like%20a%20single%2C%20blanket%20domestic%20indirect%20tax%20levied%20on%20goods%20and%20services%20across%20the%20country.%26nbsp%3B
%3Cstrong%3EAlso%20Read%20%7C%20%3C/strong%3E%3Ca%20target%3D%22_blank%22%20rel%3D%22noopener%20noreferrer%22%20href%3D%22https%3A//opoyi.com/why-is-bharat-bandh-tomorrow-know-here%22%3E%3Cstrong%3EWhy%20is%20Bharat%20Bandh%20tomorrow%3F%20Know%20here%3C/strong%3E%3C/a%3E
However%2C%20the%20tax%20implemented%20over%20three%20years%20back%2C%20is%20still%20hazy%20and%20reportedly%20not%20properly%20followed%20by%20the%20small%20markets%2C%20like%20shops%2C%20etc.%26nbsp%3B
In%20protest%20of%20the%20GST%2C%20the%20Traders%27%20union%20Confederation%20of%20All%20India%20Traders%20%28CAIT%29%20has%20called%20for%20a%20%3Ca%20target%3D%22_blank%22%20rel%3D%22noopener%20noreferrer%22%20href%3D%22https%3A//opoyi.com/traders-transporters-to-observe-one-day-bharat-bandh-against-gst-system-fuel-price-rise-tomorrow%22%3EBharat%20bandh%3C/a%3E%20on%20Friday.%20Transporters%20and%20traders%20will%20stage%20sit-in%20at%201%2C500%20places%20across%20the%20country%20on%20Friday%2C%20protesting%20against%20the%20GST%2C%20which%20the%20traders%20have%20said%20the%20provisions%20%26nbsp%3Bunder%20the%20law%20are%20%u201Ccomplicated%u201D%2C%20%u201Cregressive%u201D%20and%20%u201Cdraconian.%u201D
On%20Friday%2C%20private%20transport%20is%20likely%20to%20be%20affected%3B%20all%20commercial%20markets%20in%20India%20will%20be%20closed.%20Meanwhile%2C%20the%20banking%20sector%20is%20unlikely%20to%20be%20affected%20on%20Friday.
%3Ca%20class%3D%22mention%22%20data-mention%3D%22%23Bharatbandh%22%20data-user-id%3D%220TjwfGyOLhgX%22%20href%3D%22https%3A//opoyi.com/topic/bharatbandh%22%3E%23Bharatbandh%3C/a%3E%20%3Ca%20class%3D%22mention%22%20data-mention%3D%22%23GST%22%20data-user-id%3D%22dBpvncc0ghAz%22%20href%3D%22https%3A//opoyi.com/topic/gst%22%3E%23GST%3C/a%3E%20%3Ca%20class%3D%22mention%22%20data-mention%3D%22%23India%22%20data-user-id%3D%22Bq4MmUPrXF8p%22%20href%3D%22https%3A//opoyi.com/topic/india%22%3E%23India%3C/a%3E%20%3Ca%20class%3D%22mention%22%20data-mention%3D%22%23Chakkajam%22%20data-user-id%3D%22bHDeX1X0oN9Q%22%20href%3D%22https%3A//opoyi.com/topic/chakkajam%22%3E%23Chakkajam%3C/a%3E%26nbsp%3B
Related Articles
ADVERTISEMENT