GST wo n’t make your favorite beefburger cheaper , but it will surely make its payment simple . GST aka Goods and Services Tax is India ’s biggest Indirect Tax reform . It is aimed to supply a simplified way of indirect revenue in India by replacing other taxis like VAT , CST , and Excise etc .
Let ’s take an instance to understand it considerably .
Assume that there is a maker of dresses and he sells them to a jobber . So under the non - GST regimen , Manufacturer buys naked as a jaybird materials at Rs . 100 which includes tax of Rs . 10 then he bring a value of Rs . 30 to ready the attire and now , its gross value is Rs . 130 . Assuming a revenue enhancement rate of 10 % , he will bear Rs . 13 as taxation and so the dress is sold to the middleman at Rs . 143 .
But under GST regimen , the taxation of Rs . 13 can be offset against the tax pay on in the buff material and the efficacious tax number out to Rs . 3(Rs . 13 - Rs . 10 ) and the dress is sold to the wholesaler at Rs . 133 ( 143 in the case of the non - GST regime ) as there is no revenue enhancement on tax under GST . So you practice the deviation is of Rs . 10 and dress get cheaper .
For a adept reason of GST , see to it out this video byIndianExpressOnline .
GST has decidedly made taxis simplify but its implementation has leave alone everyone confused .
So here are some Android apps which will assist you connect with GST :
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1.GST Rate Finder
If you ’re a customer who want to experience how much GST will be utilise to specific products or if you are a manufacturing business who want to know how much GST will be employ to the product you are going to launch in upcoming month , then this app for you .
With GST Rate Finder help you’re able to search for various goods and services and their respective GST rate and details .
you’re able to easily look for the item you want to make out about using nimble search , it has even categorized goods and services according to apply GST such as 0 % , 0.25 % etc and tap a special good will give you its HSN ( Harmonized System of Nomenclature ) number .
The good part about this app is that it ’s from the Government , so the information will be factually right . Also , it ’s free and contains zero ads .
2.GST Enrolment App
Though you’re able to do your GST registration on GST Online Portal , this app gives you the freedom to do it on the go . This app is an offline service to enroll an live State VAT/ Central VAT/ Service Taxpayer to the novel GST regimen .
3.GST Connect
So if you in a business where you have to always keep yourself update with everything related to GST ( probably a Charted accountant ) then this app should be on your telephone set .
GST Connect has every resource related to GST and will keep you update with latest changes in the law . It shows Sections of GST Act and IGST Law , article by experts and CA ’s , and you’re able to even require your query . Other than these it shows GST News , filing cabinet interrelate to GST , HSN and SAC number , and much more . The best part is that it can ferment in offline mode ; it ’s free and hold zero advertizing .
4.GST Calculator India
The 1stapp in this list recite us about the rates of GST applies to product , but if you are a business owner who wants to calculate how much should you shoot aka MRP of your products under GST , then you’re able to do that using this calculator app .
Simply select the trade wind case , put the product cost , profit gross profit margin , GST rates applied to your Cartesian product and you are good to go . It give you complete reckoning and analysis of invoice terms . This is useful if you are a manufacturer , wholesaler , retailer , and even a rum customers . The app also give useful selective information about GST , of import dates etc . But my fav part is , that it even run in offline mode ; and yes , it ’s free but contain in - app ads .
Wrapping Up
