{"id":28615,"date":"2015-04-14T09:07:47","date_gmt":"2015-04-14T09:07:47","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=28615"},"modified":"2024-04-03T13:23:04","modified_gmt":"2024-04-03T07:53:04","slug":"goods-and-service-tax-2","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/","title":{"rendered":"Goods and Service tax"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-28624\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax-300x200.jpg\" alt=\"Goods and Service tax\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax-300x200.jpg 300w, https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg 303w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>India because of its taxation structure, regulations and legislation it was considered to be a non-friendly business environment. But today\u2019s government has taken some steps towards creating a friendly business environment. One of the supportive steps taken by the Modi government is goods and service tax (GST). <b><\/b><\/p>\n<p>Goods and service tax (GST) is expected to be a summarization of all indirect taxes levied in India. GST will come into action by April 2016. Indirect taxes, as implied from the name these taxes burdens customer\u2019s pockets. Service tax, Sales tax, VAT, excise duty etc., are some of the indirect taxes levied in India. Australia, France, New Zealand and still more countries has already successfully implemented GST and still reap its benefits. Similarly, GST in India is perceived to bring in ease of doing business.<\/p>\n<p>By implementing GST, the tax structure in India can be made simpler. GST would eliminate existing taxes in the business environment, which cuts down the tax burden for the customers. This tax elimination would eventually lead to decrease in price of goods and services. Accounting and tax calculation activities will also be simplified. Economists have proved a concept, \u201ctax revenues would increase if tax rate is decreased\u201d. So as per this concept, tax revenue in India would obviously rise up due to implementation of GST. It is estimated that India would receive an increase of $15 billion as revenue if GST is implemented. As lower prices will lead to more consumption, GST also contributes to increase in GDP to an extent of 1-2%. As the price falls due to GST, competition intensifies and ultimately leads to increase in quality and customer perceived benefits. Once this scenario is met, Indian products can sustain its competition even in foreign markets, so exports will gain some escalation.<\/p>\n<p>By implementing GST, due to lower cost supply chain will be the most benefited sector. Supply chain, transportation and logistics players are expecting a growth of 20% in the FY15 and also expect more with a positive outlook in FY16.<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\">Click here for government certification in Accounting, Banking &amp; Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India because of its taxation structure, regulations and legislation it was considered to be a non-friendly business environment. But today\u2019s government has taken some steps towards creating a friendly business environment. One of the supportive steps taken by the Modi government is goods and service tax (GST). Goods and service tax (GST) is expected to&#8230;<\/p>\n","protected":false},"author":645,"featured_media":28624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519],"tags":[1476,1820,1283,1036],"class_list":["post-28615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","tag-gst","tag-india","tag-revenue","tag-taxation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Goods and Service tax - Vskills Blog<\/title>\n<meta name=\"description\" content=\"Learn and know about Goods and Service tax. Is implementing GST a good idea to generate revenues for India? Click here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goods and Service tax - Vskills Blog\" \/>\n<meta property=\"og:description\" content=\"Learn and know about Goods and Service tax. Is implementing GST a good idea to generate revenues for India? Click here.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Vskills Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vskills.in\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/p.kannammai\" \/>\n<meta property=\"article:published_time\" content=\"2015-04-14T09:07:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-03T07:53:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"303\" \/>\n\t<meta property=\"og:image:height\" content=\"202\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kannammai Palaniappan\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kannammai Palaniappan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/\",\"name\":\"Goods and Service tax - Vskills Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg\",\"datePublished\":\"2015-04-14T09:07:47+00:00\",\"dateModified\":\"2024-04-03T07:53:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/74af3e2d22de506afe6ea98686d960da\"},\"description\":\"Learn and know about Goods and Service tax. Is implementing GST a good idea to generate revenues for India? Click here.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#primaryimage\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg\",\"width\":303,\"height\":202},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.vskills.in\/certification\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Goods and Service tax\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#website\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/\",\"name\":\"Vskills Blog\",\"description\":\"Vskills - A Initiative in Assessment to Enhance Employability\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.vskills.in\/certification\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/74af3e2d22de506afe6ea98686d960da\",\"name\":\"Kannammai Palaniappan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4a364c6ca3c88fb06e784ec975b1cedcd528ed64580a6c1406f70212568ececf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4a364c6ca3c88fb06e784ec975b1cedcd528ed64580a6c1406f70212568ececf?s=96&d=mm&r=g\",\"caption\":\"Kannammai Palaniappan\"},\"description\":\"Completed B.tech(CSE) in Sastra University, Tanjore. Pursuing my MBA(Finance) in Christ University, bangalore. Beyond finance, interested in journalism and database management.\",\"sameAs\":[\"https:\/\/www.facebook.com\/p.kannammai\",\"https:\/\/www.linkedin.com\/in\/kannammaip\/\"],\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/author\/kannammai-palaniappan\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Goods and Service tax - Vskills Blog","description":"Learn and know about Goods and Service tax. Is implementing GST a good idea to generate revenues for India? Click here.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/","og_locale":"en_US","og_type":"article","og_title":"Goods and Service tax - Vskills Blog","og_description":"Learn and know about Goods and Service tax. Is implementing GST a good idea to generate revenues for India? Click here.","og_url":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/","og_site_name":"Vskills Blog","article_publisher":"https:\/\/www.facebook.com\/vskills.in","article_author":"https:\/\/www.facebook.com\/p.kannammai","article_published_time":"2015-04-14T09:07:47+00:00","article_modified_time":"2024-04-03T07:53:04+00:00","og_image":[{"width":303,"height":202,"url":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg","type":"image\/jpeg"}],"author":"Kannammai Palaniappan","twitter_misc":{"Written by":"Kannammai Palaniappan","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/","url":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/","name":"Goods and Service tax - Vskills Blog","isPartOf":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#primaryimage"},"image":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg","datePublished":"2015-04-14T09:07:47+00:00","dateModified":"2024-04-03T07:53:04+00:00","author":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/74af3e2d22de506afe6ea98686d960da"},"description":"Learn and know about Goods and Service tax. Is implementing GST a good idea to generate revenues for India? Click here.","breadcrumb":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#primaryimage","url":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg","contentUrl":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/04\/Goods-and-Service-tax.jpg","width":303,"height":202},{"@type":"BreadcrumbList","@id":"https:\/\/www.vskills.in\/certification\/blog\/goods-and-service-tax-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.vskills.in\/certification\/blog\/"},{"@type":"ListItem","position":2,"name":"Goods and Service tax"}]},{"@type":"WebSite","@id":"https:\/\/www.vskills.in\/certification\/blog\/#website","url":"https:\/\/www.vskills.in\/certification\/blog\/","name":"Vskills Blog","description":"Vskills - A Initiative in Assessment to Enhance Employability","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.vskills.in\/certification\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/74af3e2d22de506afe6ea98686d960da","name":"Kannammai Palaniappan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/4a364c6ca3c88fb06e784ec975b1cedcd528ed64580a6c1406f70212568ececf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4a364c6ca3c88fb06e784ec975b1cedcd528ed64580a6c1406f70212568ececf?s=96&d=mm&r=g","caption":"Kannammai Palaniappan"},"description":"Completed B.tech(CSE) in Sastra University, Tanjore. Pursuing my MBA(Finance) in Christ University, bangalore. Beyond finance, interested in journalism and database management.","sameAs":["https:\/\/www.facebook.com\/p.kannammai","https:\/\/www.linkedin.com\/in\/kannammaip\/"],"url":"https:\/\/www.vskills.in\/certification\/blog\/author\/kannammai-palaniappan\/"}]}},"_links":{"self":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/28615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/users\/645"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/comments?post=28615"}],"version-history":[{"count":6,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/28615\/revisions"}],"predecessor-version":[{"id":74991,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/28615\/revisions\/74991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/media\/28624"}],"wp:attachment":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/media?parent=28615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/categories?post=28615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/tags?post=28615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}