@nits2811 Kaunse group mein tha? I was in Group III :D
IIFT me kya kya leke jaana hai?
Done with IIFT and SP Jain :sleep:
Sp Jain was smooth did well in round 1 no idea abt round2(focussed on ethics)
IIFT essay-child rights and role of state-okish performance :neutral:
GD-media hype reagarding violence increasing crime rates- bahut baka 😛 decent performance
Interview-doesn't get any better :mg:...the panel looked pretty satisfied :P
Score is low though...lets see if i make the cut
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Any good links for GST? I still dont understand a few things :
1)How is it different from VAT
2)WHen they say dual GST, when will CGST be applicable and when will SGST?
3)Why do we even need GST
4)FInally, how will the price for consumer be less when GST is introduced.
Pakk gaya hu, saari links dekh liye lekin kuch samaj nahi aa raha :(
@mohit07 said:Any good links for GST? I still dont understand a few things :1)How is it different from VAT2)WHen they say dual GST, when will CGST be applicable and when will SGST?3)Why do we even need GST4)FInally, how will the price for consumer be less when GST is introduced.Pakk gaya hu, saari links dekh liye lekin kuch samaj nahi aa raha
Acc to my knowledge..india has multiple level of taxations..whenevr goods go frm one state to another we hv to pay taxes..GST will bring in uniformity in taxes and we hv to pay just one tax ..prices will be less coz the taxes wld be fixed at some percent..which wil be uniform across india..VAT i think is a different thing..baaki pata nhi joh thodi understanding thi bta dia..aur kuch pata chalega toh bta dunga
@mohit07 said:Any good links for GST? I still dont understand a few things :1)How is it different from VAT2)WHen they say dual GST, when will CGST be applicable and when will SGST?3)Why do we even need GST4)FInally, how will the price for consumer be less when GST is introduced.Pakk gaya hu, saari links dekh liye lekin kuch samaj nahi aa raha
1)VERY similar to VAT
3)fOR uniform tax % throughout the country.Will decrease the inflation as it will prevent the cascading effect of taxes the consumer has to bear in the current system
4)Yes.
Current: a carpenter buys wood of Rs 100+10%tyaxes=110 rs
he adds rs 500 as labour and sells it at Rs 610+61(taxes)=671
Gst/Vat:carpenter 110 rs
Now customer will have to pay Rs 610 +rs 50(tax, as it is on value added)=660 rs
PS:Pls correct me if I am wrong
@CBZ123 said:
Now customer will have to pay Rs 610 +rs 50(tax, as it is on value added)=660 rsPSls correct me if I am wrong
Yes, VAT is on every consequent value adding transaction.
Isliye hi VAT was introduced.
Initially, there was only Sales Tax, jisme woh 100*12.5% hi tax hota.
And middlemen would not pay tax for trading, because value addition was not defined, only primary seller and final buyer was taxed.
Fir ye tax evasion rokne ke liye VAT laaye, to tax each value addition ka transaction, right CBZ sir?