• Home
    • Layout 1
      • Fullwidth Slider
      • 3 Columns Slider
      • Fixed Width Slider
      • Fullwidth
      • List
    • Layout 2
      • Full Post + Grid Right Sidebar
      • Full Post + Grid Left Sidebar
      • Full Post + Grid Fullwidth
      • Full Post + List
    • Layout 3
      • Right Sidebar
      • Left Sidebar
      • Grid 2 Columns
      • Grid 3 Columns
  • Single Posts
    • Right Sidebar Post
    • Fullwidth Post
    • Left Sidebar Post
    • Gallery Post
    • Video Post
    • Music Post
  • Pages
    • Fullwidth Page
    • Right Sidebar Page
    • Left Sidebar Page
    • Background Header Page
    • Gallery
      • Gallery 2 Columns
      • Gallery 3 Columns
      • Gallery 4 Columns
    • Typography
  • Category
  • About
  • Contact Us
  • Features
    • Theme Support & Updates
    • Demo Content Import
    • 10+ Slider and Blog Layouts
    • Flexible Single Post Options
    • Custom Sidebar
    • Theme Customizer
    • Instant Search
    • Side Menu
    • Google Mobile Friendly
    • Theme Admin
    • Shortcodes
Mon-Fri 09.00 - 17.00 88846 00088
  • Home
  • Lifestyle
  • Travel
  • About
  • Contact Us

  • Home
  • About
  • Entertainment
    • Bollywood
    • Hollywood
  • Social
  • Lifestyle
  • Contact Us
What is GST Law in India? Goods & Services Tax Law Explained
July 22, 2015

Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that will be levied on every value addition.

To understand this, we need to understand the concepts under this definition. Let us start with the term ‘Multi-stage’. Now, there are multiple steps an item goes through from manufacture or production to the final sale. Buying of raw materials is the first stage. The second stage is production or manufacture. Then, there is the warehousing of materials. Next, comes the sale of the product to the retailer. And in the final stage, the retailer sells you – the end consumer – the product, completing its life cycle.
So, if we had to look at a pictorial description of the various stages, it would look like:

Travelling all around the world.

Goods and Services Tax will be levied on each of these stages, which makes it a multi-stage tax. How? We will see that shortly, but before that, let us talk about ‘Value Addition’.

Let us assume that a manufacturer wants to make a shirt. For this he must buy yarn. This gets turned into a shirt after manufacture. So, the value of the yarn is increased when it gets woven into a shirt. Then, the manufacturer sells it to the warehousing agent who attaches labels and tags to each shirt. That is another addition of value after which the warehouse sells it to the retailer who packages each shirt separately and invests in marketing of the shirt thus increasing its value.

Travelling all around the world.

modelphotographyportraittravel
Share

Art  / Lifestyle  / Movie

admin

You might also like

Quality of Life in Mangalore – Cost of Living
July 22, 2015
Travel the world
July 22, 2015
City Center Bridge
July 22, 2015

Leave A Reply


Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *



  • Newsletter

  • Like Us On Facebook

  • Blog

    • Home
    • About
    • Entertainment
      • Bollywood
      • Hollywood
    • Social
    • Lifestyle
    • Contact Us
  • Error: Please check if you enter Instagram username and Access Token in Theme Setting > Social Profiles

© Copyright Blog Enkalana