What is GST? A Beginner’s Guide to India’s Tax System. Get Practical GST Course

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Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that has replaced multiple indirect taxes in India. Introduced on July 1, 2017, GST simplifies the taxation structure by merging central and state taxes into a single system. It is applicable to the supply of goods and services across India, ensuring a uniform tax regime.

What is GST? A Beginner’s Guide to India’s Tax System. Get Practical GST Course in Delhi, 110001, by SLA Consultants India, New Delhi,

Key Features of GST

One Nation, One Tax – GST eliminates the cascading effect of multiple taxes, ensuring a seamless credit system.
Destination-Based Tax – Unlike previous tax structures, GST is levied at the place of consumption rather than production.
Multi-Tier Structure – GST is divided into:
- CGST (Central GST): Levied by the central government.
- SGST (State GST): Levied by the state government.
- IGST (Integrated GST): Levied on inter-state transactions.
Input Tax Credit (ITC) – Businesses can claim a credit for taxes paid on inputs, reducing the overall tax burden.

GST Slab Rates in India

GST has different tax slabs based on the type of goods and services:

5% – Essential items like household necessities.
12% – Standard consumer products.
18% – Most goods and services fall under this category.
28% – Luxury and sin goods.

Who Should Register for GST?

Businesses with an annual turnover exceeding ₹40 lakh (₹20 lakh for service providers).
Inter-state suppliers, e-commerce operators, and businesses involved in import/export.

Benefits of GST

Simplified Taxation – Reduces compliance costs and paperwork.
Transparency – Digital records ensure reduced tax evasion.
Boosts Business Growth – Creates a unified national market.

Get Practical GST Course in Delhi by SLA Consultants India

What is GST? A Beginner’s Guide to India’s Tax System. Get Practical GST Course in Delhi, 110001, by SLA Consultants India, New Delhi,

For professionals and business owners looking to master GST compliance, SLA Consultants India offers an industry-focused GST Certification Course in New Delhi (110001). The course covers: