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Due Dates: GSTR 3B, GSTR 1, (GSTR 9, and GSTR 9C) and GSTR 4 Respectively as Follows: 20 March, 11 March , 31 March and 18 Apr 2020 (Read a Guide)
GST (Goods and Service Tax), the biggest tax reform in the country has been implemented from July 1st, 2017. It is an indirect tax for the complete nation, which will remove all the other taxes and will make India one unified common market.
Reduction in transaction costs of doing business would undoubtedly lead to improved competitiveness for trade and industry. GST will affect each and every sector of the country along with the living standards of the residents.
strong>Goods and Service Tax (GST) is one of the taxation systems which affect common people or consumers in India. Usually, all the old taxation systems in India is complicated, so it’s difficult for the common people to understand the about the GST concept. You must know some basic points about GST before we proceed further.
The Indian Constitution amendment divides the taxation powers into central and state government. Both the government have some exclusive areas where they can levy tax from the common people. Income tax is a direct tax, it is levied on the income or company profits, it is the exclusive area of central government.