GST Registration in Delhi
GST stands for Goods and Services Tax. It is a tax imposed on various goods and services used for domestic purpose. The GST was effective from July 1, 2017. Rates under GST varies from 0% to 28%.
What is GST?
GST is an indirect tax levied on the sale various goods and services. From manufacturing to final consumption, every stage will be lodged with this tax. Basically, the final customer will bear the charge of GST. There are five different slabs for collection of tax on goods and services. The slabs are: 0%, 5%, 12%, 18%, and 28%. Some goods are exceptions such as Petroleum products, electricity, alcoholic drinks. All this are taxed under the State Government as it was before the implementation of the tax. Customers are imposed to pay the tax and the government earns revenue from the tax.