GST is an integrated indirect tax which is levied on ‘supply‘ of Goods and Services.
The main objective of implementation of GST Bill is to consolidate all types of
indirect taxes into a single comprehensive tax – GST. The Goods and Service tax will
provide a uniform market by integrating the existing Central and State indirect taxes
into a single comprehensive tax.
Goods and Service Tax (GST) will replace the various types of present indirect taxes such as
Excise Duty (levied on Manufacture of Goods), Service Tax (levied on Services), State VAT
(levied on Sale of Goods), octroi, entertainment tax, luxury tax and all other types of
Central and State Indirect tax levies except customs.
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An existing taxpayer is an entity currently registered under any of the Acts as
given below-
· Central Excise
· Service tax
· State Sales tax / VAT (except exclusive liquor dealers if registered under VAT)
· Entry tax
· Luxury tax
· Entertainment tax (except levied by the local bodies).
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The term 'casual taxable person' is specifically defined as 'One who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in a state or a union territory where he has no fixed place of business'.
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