GainByBlog - Gain Your Knowledge

KNOW ABOUT INDIAN HISTORY

101 questions with answers to KNOW ABOUT INDIAN HISTORY. What was the real name of Shahjahan? Whom did Guru Gobind Singh help to get the crown? No need to download. Online study....... For Students of S.St, History, CTET, TET, DSSSB and for all competition exams. Do your practice. Best of Luck. Read Now

Great Scientists Of India

43 Great Scientists Of India. India is the land of glorious history in the field of science and technology. It is the birth place of the great scientist Aryabhatta,..... Indian scientists have played a stellar role in the development of India. Great Scientist Of India are........ No need to download. Read Now

KNOW ABOUT INDIAN GEOGRAPHY

101 questions with answers. India is a land of great variety and its unique and ancient civilization has been a great unifying factor. The vast number of diverse faiths, beliefs, religions, lifestyles, languages etc. Online study.... For all Students of Geography. Read Now

Indian Constitution and Politics

101 questions with answers. No need to download. Online study...... Online practice paper with marks and correct answers. For CTET, TET, DSSSB exams. Indian Constitution and Politics. Read Now

HOW TO UNDERSTAND ENGLISH GRAMMAR

Welcome to English Grammar Classes. - FROM THESE CLASSES YOU EASILY UNDERSTAND ENGLISH GRAMMAR. - Class - 1 > THE SENTENCES AND ITS PARTS, Class - 2 > KINDS OF SENTENCES, Class - 3 > NOUN, Class - 4 > PRONOUN, Class - 5 > ADJECTIVE, Class - 6 > ....... Read Now

Class-1 THE SENTENCES AND ITS PARTS

1 - THE SENTENCES AND ITS PARTS are the basic vocabulary of grammar, and it is important that you take some time to learn and understand them. The parts of the sentence are a set of terms for describing how people construct sentences from smaller pieces. Read Now

Class-2 KINDS OF SENTENCES

2 - KINDS OF SENTENCES. When we speak or write we use different kinds of sentences. There are four kinds of sentences. 1. ASSERTIVE SENTENCES, 2. INTERROGATIVE SENTENCES (QUESTIONS), 3. IMPERATIVE SENTENCES (COMMANDS), 4. EXCLAMATORY SENTENCES. Read Now

Class-3 NOUN

It is our third class: 3 - NOUN - We see noun all around us. They are naming words. Any thing or every thing name is a noun. A noun is the name of a person, animal, place or thing. KINDS OF NOUNS : Nouns are of four kinds: Read Now

Class-4 PRONOUN

4 - PRONOUN - A pronoun is a word used in place of a noun or noun phrase. Pronoun refer to either a noun that has already been mentioned or to a noun that does not need to be named specifically. Read Now

All Practice Papers/ Sample Papers

All Subjects Practice Papers/ Sample Papers/ Important Questions for CTET, TET, DSSSB students with Marks and Correct Answers. No need to download. Do your practice. Best of Luck. Read Now

1st Practice Paper of S.St. in English

First Practice Paper of S.ST. for the students who are waiting for CTET, TET exam. Practice paper / Sample Paper for CTET exam with answers. No need to download it's online. You can check your marks. Do your practice. Best of Luck. Read Now

2nd Practice Paper of S.St. in Hindi

इसमें वो प्रश्न हैं जो CTET के पेपर में कई बार आये हैं और स्टूडेंट्स logically उसका answer नहीं जानते| अब आप देखिये क्या आप को इनके answers पता हैं? No need to download. Read Now

2nd Practice Paper of S.St. in English

Practice paper / Sample Paper for CTET exam with answers. No need to download it's online. You can check your marks. CTET Practice Paper of S.St. CTET 2nd Practice Paper - S.ST. - (ENGLISH). Do your practice. Best of Luck. Read Now

3rd Practice Paper of S.St. in Hindi

Practice paper / Sample Paper for CTET exam with answers. No need to download it's online. You can check your marks. CTET Practice Paper of S.St. CTET 3rd Practice Paper - S.ST. - (HINDI). Do your practice. Best of Luck. Read Now

3rd Practice Paper of S.St. in English

Practice paper / Sample Paper for CTET exam with answers. No need to download it's online. You can check your marks. CTET Practice Paper of S.St. CTET 3rd Practice Paper - S.ST. - (ENGLISH). Do your practice. Best of Luck. Read Now

4th Practice Paper of S.St. in Hindi

Practice paper / Sample Paper for CTET exam with answers. No need to download it's online. You can check your marks. CTET Practice Paper of S.St. CTET 4th Practice Paper - S.ST. - (HINDI). Do your practice. Best of Luck. Read Now

4th Practice Paper of S.St. in English

Practice paper / Sample Paper for CTET exam with answers. No need to download it's online. You can check your marks. CTET Practice Paper of S.St. CTET 4th Practice Paper - S.ST. - (ENGLISH). Do your practice. Best of Luck. Read Now

5th Practice Paper of S.St. in Hindi

Practice paper / Sample paper for CTET exams in Hindi and English with answers. No need to download. You can also check your marks. CTET 5th Practice Paper - S.ST. - (HINDI). Do your practice. Best of Luck. Read Now

5th Practice Paper of S.St. in English

Practice paper / Sample Paper for CTET exam with answers. No need to download it's online. You can check your marks. CTET Practice Paper of S.St. CTET 5th Practice Paper - S.ST. - (ENGLISH). Do your practice. Best of Luck. Read Now

1st Practice Paper of Child Development/Pedagogy in Hindi

अपने इस पोस्ट में मैं आपको Child Development/Pedagogy का पहला प्रैक्टिस पेपर दे रहा हूँ| देखिये क्या आप को इनके Answers पता हैं? No need to download. CTET 1st-PracticePaper-ChildDevelopment - Pedagogy. Do your practice. Best of Luck. Read Now

2nd Practice Paper of Child Development/Pedagogy in Hindi

Practice paper / Sample Paper for CTET exam with answers. No need to download it's online. You can check your marks. CTET Practice Paper of C.D. CTET 2nd-PracticePaper-ChildDevelopment-Pedagogy - (HINDI). Do your practice. Best of Luck. Read Now

1st Practice Paper of English

English Practice paper / Sample paper for CTET 2017/TET exams with answers. No need to download. You can also check your marks. CTET/TET 1st Practice Paper - ENGLISH - I/II. Do your practice. Best of Luck. Read Now

Jobs

Government / Private / National / International Jobs information. DSSSB EXAM FOR TEACHERS, NDMC Guest Teacher Recruitment, Teachers Recruitment UAE Government School Read Now

Yoga For Glowing Skin

Mental peace and emotional balance play a very important role in our beauty subject. Yoga help in relaxing the mind and the body and reduces stress. Yoga helps in healing skin infections. most favourite poses of yoga for get glowing and beautiful skin. Read Now

Care Your Eyes

Follow these simple and easy eye-care tips for healthy eyes.... Do some simple eye exercises/yoga for Improves your Eye vision, Reduces strain.... If you include foods that contain a range of vitamins, nutrients and minerals.... CARE YOUR EYES by EXERCISE-YOGA-FOODS Read Now

Heart Healthy Heart

The heart is a muscular organ in humans and other animals which pumps blood through the blood vessels of the circulatory system. Blood provides the body with oxygen, glucose, amino acids, calcium, as well as assists in the removal of metabolic wastes. HEART-HEALTHY-HEART Read Now

About Health

YOGA POSES. Mental peace and emotional balance play a very important role in our beauty subject. EXERCISE-YOGA-FOODS. The heart is a muscular organ in humans and other animals which pumps blood through the blood vessels of the circulatory system. Read Now

How to create a free Blog

You don't need any knowledge of HTML coding or graphic design ....... There are many blogging platforms which offer users to create free blogs. If you are looking for a free blog then start blogging with ...... Some Gadgets of Google BlogSpot are : ....... Read Now

Pokemon Go : Latest news and features

Friends in a few days Pokemon Go has become the choice of all. Users of the Android app can upgrade to version 0.33.0 and iphone owners can get iOS version 1.3.0. The latest Pokemon Go update for Android includes a welcome return for battery saver mode. Read Now

How to get Google AdSense Approval

Google AdSense is a program that allows publishers in the Google Network to serve advertisements, image, text and video that are targeted to audience...... Publisher can generate revenue by per-impression or per-click basis..... Read Now

Create your own Gaming Website - Free

How to create your own gaming website, free. You can Create gaming or any other category website in just 10 minutes - Free! Read Now

Role of Media in Democracy

The main aim of media is to work for public interest. Hence, it should not be controlled by few people. If it covers only partial news then it becomes biased information which will not serve the purpose. Current affairs, News, Media. Read Now

Advertising and Advertisements

The social advertisements bring awareness e.g., about global warming. Some advertisements mislead the consumers by exaggerating the qualities of a product. Why Ads ....... Read Now

IS IT TRUE.....?

Friends this is not a post. It's a question, a curiosity and I want to know from your side - What do you think about the dreams? IS IT TRUE THAT IF YOU DREAM ABOUT SOMEONE THAT PERSON WAS THINKING ABOUT YOU? Read Now

CTET 2017 IS IN VORTEX

CTET 2017 भंवर में है| Hi, Friends now a days this News and Image on boom in social media but it is a fake news. CBSE not announced any date for CTET 2017. CTET 2017 IS IN VORTEX Read Now

Fraud Advertisements of News Paper

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DOWNLOAD FREE FUN AND EDUCATIONAL GAMES

Fly Real War jet Airplane game your dream comes true, fly real war jet airplane. DOWNLOAD FREE FUN AND EDUCATIONAL GAMES Read Now

PRAYER - POWER-IMPORTANCE-NEED

In the midst of our busy lives, we don’t pray or don’t pray enough or we only pray about the most pressing issues and neglect to take the time to really get close to God, to know him better and to share with him the deepest longings of our heart. Read Now

Will Facebook Donate $

Facebook posts that claim Facebook will donate money towards a sick or injured child each time a Facebook user either shares or likes a photo is actually a form of like-farming. Will Facebook Donate $ For Like, Share and Comment of Pic? Read Now

WHAT IS GST? HOW IT IMPACT ON YOUR BUDGET?

GST (GOODS & SERVICES TAX) – It is also known as VAT or the value added tax in many countries is a multi-stage consumption tax on goods and services. GST will replace various other taxes such as Excise, VAT and Service Tax. Read Now

WHAT IS GST? HOW IT IMPACT ON YOUR BUDGET?

Government brings a system of Goods and Services Tax (GST) in India. It is the next most important economic reform item on the Narendra Modi government’s agenda after the Demonetisation. 

This is one reform which affects all of us. As usually about taxes it is also a complicated reform. In my this blog I try to present an overview on GST and explain why it is expected to make a difference to all of us. 

WHAT IS GST?

GST (GOODS & SERVICES TAX) – It is also known as VAT or the value added tax in many countries is a multi-stage consumption tax on goods and services. GST will replace various other taxes such as Excise, VAT and Service Tax with a single tax structure. 

First to know - How is India’s tax system structured today? 

Direct Taxes 

The Indian constitution divides taxation powers between centre and states. Both levels of government have some exclusive and described areas where they can levy tax. Income tax is the exclusive domain of central government, which includes tax on company profits. These taxes are referred to as direct taxes. 

Indirect Taxes 

These are taxes levied on manufacture of goods, consumption and provision of services. Generally indirect taxes levied on manufacture of goods or provisions of services are the exclusive domain of central government. Taxes on consumption are the exclusive domain of state governments. 

What is the problem by the tax system structured today? 

Multiplicity of taxes: 

Taxes by Union Government, State Governments and the local governments have resulted in difficulties and harassment to the tax payer. Complexity and corruption: A provoking feature of the Indian tax system is its complexity. Both direct and indirect tax laws are complex. This provides enough scope for avoiding and evading taxes. 

Bias in incidence of taxes: 

As per the indirect taxation enquiry committee, “The burden of the urban households was distinctly higher than the rural households in the corresponding expenditure class”. Urban population is taxed far higher than the rural rich. 

Lack of built-in elasticity: 

Income from taxation does not increase automatically in India in proportion to increase in National income. Hence, the government is compelled to increase taxes every year to maintain a constant tax income ratio.

Generally speaking there are two important problems with the current arrangement. 

First, keep in mind that some good such as a Jeans has to first be manufactured before it is consumed. The central government, therefore, levies its indirect tax called central excise at the factory gate. Subsequently, a jeans reaches a retail outlet and is bought by a consumer. The state government at this stage levies a tax on consumption dubbed value added tax (VAT). So, we have a tax at the factory gate which adds to the cost of the jeans and another tax on the final price. 

State also have their exclusive domain on consumption tax within their borders, they treat goods coming from other states as ‘Imports’. 

For example, if a jeans maker in Delhi buys dye in Haryana, he would have paid central excise and Haryana’s state taxes on the product. On this cost, Delhi government would levy its tax if the jeans are sold in the state. If the jeans are sent across Delhi’s border and sold in Uttar Pradesh, an ‘export’ tax called central sales tax is collected by Delhi.

By the above example it is clear that India is politically one country, but economically it is fragmented. There are multiple taxes when there is commerce across state borders. Therefore it increases costs for everyone and makes economic activity within India for Indians complicated. 

How will GST help? 

GST is a better and fairer tax system compared to SST. GST is levied on the supply of goods and services at each stages of the supply chain from the supplier up to the retail stage of the distribution. Even though GST is imposed at each level of the supply chain, the tax element does not become part of the cost of the product because GST paid on the business inputs is claimable.

The basic fundamental of GST is its self-policing features which allow the businesses to claim their input tax credit by way of automatic deduction in their accounting system. This eases the administrative procedures on the part of businesses and the Government. Thus, the Government’s delivery system will be further enhanced.

How will GST help consumers?

GST (GOODS & SERVICES TAX)

Today consumers have no idea about the extent of taxes they pay on goods. If you get a bill after buying merchandise which gives the extent of VAT you have paid, it is an understatement of the actual tax you have paid. From the above example we know that before merchandise reached the retail outlet, the central government has collected excise duty. The extent of excise duty is not mentioned in the bill. Therefore today it is reasonable to assume we pay over 20% tax for the most merchandise we buy. 

In GST Consumers should benefit in two ways. 

First of all, all taxes will be collected at the point of consumption. It means that if a jeans is taxed at 18%, it will include both central government’s taxes and state government’s taxes. Transparency in taxation should deter governments from indiscriminately increasing taxes as there is bound to be public backlash.

Second one is that, once barriers between states are removed, we as consumers will not end up paying ‘tax on tax’ which is what happens when goods move across state borders.

All above are for the improvement of our Country’s (INDIA) GDP.

Now see the impact of GST : 

Positive Impact of GST : 

• A unified tax system removing a bundle of indirect taxes. 

• Less tax compliance. 

• Removes cascading effect of taxes. 

• Manufacturing costs will be reduced,hence prices of consumer goods likely to come down. 

• Due to reduced costs some products like cars,FMCG etc.will become cheaper. 

• A unified tax regime will lead to less corruption which will indirectly affect the common man. 

Hence,this is possible only if the benefit is actually passed on to the consumers. 

Negative Impact of GST : 

• Services will become expensive.e.g.Telecom,banking,airline etc. 

• Being a new tax,it will take some time for the people to understand its implications. 

• It is easier said than done.There are always some complications attached. It is a consumption based tax,so in case of services the place where service is provided needs to be determined. 

• If actual benefit is not passed to consumer and seller increases his profit margin,the prices of goods can also see a rising trend.

However,GST is a long term strategy and the positive impact shall be seen in the long run only.

Let us hope GST proves to be a game changer in a positive way and proves to be beneficial to the common man.