G.S.T. Software in India
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 10
Abstract
The GST was launched at midnight on 1 July 2017 by the President of India, Pranab Mukherjee and the Government of India. Goods and Service Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services. GST is levied at every step in the production process, but is refunded to all parties in the chain of production other than the final consumer. Goods and services are divided into five tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%.An e-Way Bill is an electronic permit for shipping goods similar to a waybill. It was made mandatory for inter-state transport of goods from 1st June 2018. It is required to be generated for every inter-state movement of goods beyond 10 kilometers (6.2 mi) and the threshold limit of ₹50,000 (US$750).The official Android mobile app can be used for generating an e-way bill, with powerful features for easy generation and for maintaining records. The e-way bill can also be generated or cancelled through an SMS. It is a critical compliance related GSTN project under the GST, with a capacity to process 75 lakh e-way bills per day. This paper evaluate the impact of technology on GST and it is found that it enhance the level of taxation system in India and also simplify the taxation process .GST will provide a big platform for economic and social development.
Authors and Affiliations
Dr. Santosh Kumar Tripathi
Keywords
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