According to GST rules which are clear on the matter, IGST has to be shared between the Centre and states in the ratio of 50:50 and the recommendations of the then 15th finance commission bind the union government to give a further 42 per cent from its share to the states.
What is the rate of central GST?
18%
The GST rate is 18% comprising of CGST rate of 9% and SGST rate of 9%. In such case, the dealer collects Rs. 1800 of which Rs. 900 will go to the Central Government and Rs.
Is CST still applicable after GST?
CST means Central Sales Tax. CST/VAT is charged on sale of goods immediately up on preparation of Sale Invoice or immediately when goods are moved for sale. GST is charged on goods and services at the end stage of distribution of goods. Many indirect taxes including CST are being eliminated and merged with GST.
What is full of CST?
The full form of CST is Central Sales Tax. It is a form of indirect tax which is imposed on goods sold from one state to another.
What is rate of reverse charge in GST?
GST Compensation Cess is also applicable on reverse charge. If the goods/services purchased in exempted or nil rated then no tax is payable under RCM. Composition dealers are required to pay reverse charge at normal rates (5%,12%,18%,28%) and not at the composition rates (1% or 5%).
Who is the head of Excise and taxation department in Chandigarh?
The Department is headed by the Excise and Taxation Commissioner, who is superintending this office through the Deputy Excise and Taxation Commissioner under various enactments referred to above. The Finance Secretary, U.T., Chandigarh holds the charge as The Secretary, Excise and Taxation Department.
Who is the Finance Secretary of Chandigarh?
The Finance Secretary, U.T., Chandigarh holds the charge as The Secretary, Excise and Taxation Department. The department contributes a major chunk of revenue to the exchequer and the Administration of every enactment is being ensured in accordance with the statutory provisions of the Act and Rules framed there under.
How is Value Added Tax collected in India?
Under these Acts the levies are collected by the Designated Officers within their respective fields .For the collection and administration of Value Added Tax, nine wards have been constituted with an Excise and Taxation Officer assisted by the Excise and Taxation Inspector responsible for their functioning.
