GST has been implemented in India. The Government of India has implemented it with the concept of one nation one tax, eliminating all types of indirect taxes. It has been implemented across India from 1st July 2017. With its implementation, indirect taxes like Service Tax, Sales Tax, VAT, Excise Duty have been abolished. In their place, GST has been implemented. Earlier different states had to pay different taxes on the same item. Today we will talk about what is GSTN, what is the full form of GSTN, what is GSTN called in Hindi, we will give you complete information about it.

Full-Form of GSTN

The full form of GSTN is the Goods and Services Tax Network.

What is GSTN?

1) GSTN is a not-for-profit non-government company that will provide common IT infrastructure to Central Government State Governments including taxpayers and other stakeholders. Services like registration, return and payment will be made available to all taxpayers by the Goods and Services Tax Network. Also, it matches the details of tax payments with the banking network.

2) All the data of Goods and Services Tax remains with the GSTN. Here is You can know GSTN Full Form in Hindi The Goods and Services Tax Network was created on 28 March 2013. The Goods and Services Tax Network will provide individual MIS reports to governments. Along with this, the profile of taxpayers will be checked.

3) GSTN is used by the government. The government can track every infection caused by it. GSTN provides all the services to the user from registration to tax filing.

4) The Chairman of GSTN is Mr. Naveen Kumar and the CEO is Mr. Prakash Kumar. The government manages 49% of the GSTN and the remaining 51% comes from private companies, banks, and financial institutions. The government has more share of GSTN than any individual, so it can be said that the government has more control over the GSTN. That is the security of our data increases.

5) In any country, the government needs money for its proper functioning and taxes are a major source of revenue for the government. Thus, the taxes collected by the government are spent on the public. Therefore, these taxes are mainly classified into two types –

Direct Tax

The tax levied on the income of an individual is called direct tax. The amount of tax payable varies on the income earned by the individual from various sources like salary, house rent income, etc. Therefore, the higher the income, the more taxes you pay to the government, which essentially means more taxes for the wealthy than they are. Poor.

Indirect Tax

It is a tax that is not directly levied on the income of individuals, rather it is levied on those goods and services which in turn increase the cost of goods and services (MRP). Friends, indirect tax is borne by the end consumer, whether he is rich or poor. It is one of the many indirect taxes that some are levied by the central government while some are levied by the state government, which makes the indirect tax system an extremely complex system.

GST Components

There are three taxes now applicable in the present regime under the GST tax system –

CGST: It is collected by the central government on inter-state sales.

SGST: It is collected by the state government on an intrastate scale.

IGST: It is collected by the central government for inter-state sales.

Tax-Free Goods

Jute, Fresh Meat, Fish, Chicken, Egg, Milk, Buttermilk, Curd, Natural Honey, Fresh Fruits, Vegetables, Flour, Besan, Bread, Prasad, Salt, Bindi, Sindoor, Stamp Paper, Printed Books, Newspapers, Bangles, Handloom Cereals, Kajal, Children's Drawing, Coloring Book, etc. Hotels and lodges, judicial documents, stamp papers of less than Rs 1,000 are also kept out of GST.

The Government of India has introduced a single tax system in the single market, bringing changes in the indirect tax system. With this, efforts will be made to add $ 2,000 billion to 1.3 billion people in the Indian market. Under this, traders with a turnover of up to 20 lakhs have been exempted from GST.

Benefits of GST

1) The common man has benefited the most from GST. Under this, the same tax has been levied on all the goods purchased. Due to this, there is no change in tax due to a change of location.

2) The tax system in India has been simplified through GST.
The system of levying tax on tax has been abolished.

3) After the implementation of GST, there will be no corruption on the employees of the Income Tax Department.

4) With the implementation of GST, Service Tax, Central Sales Tax, State Sales Tax, and VAT have been abolished.

5) Before GST, we had to pay 30 to 35 percent tax on different goods. After GST, we will have to pay only 18 percent.

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