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Basic Overview of SGST

The Goods and Service Tax (GST) is Indiau2019s most significant tax reform, and since India is one of the emerging economies in the world, it is one of the worldu2019s most extensive tax reforms as well. The GST has come when India is looking to digitize its economy, and SGST is an essential type of GST.

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Basic Overview of SGST

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  1. BASICOVERVIEW OFSGST GOODSANDSERVICETAXACT(SGST)2017 www.eazybills.com

  2. SGST 01 04 DIFFERENCEBETWEENCGSTAND SGST 05SGSTININDIA INTRODUCTION 02BENEFITSOFSGST 03 06 SGSTRATESOFDIFFERENT COMMODITIES CONCLUSION

  3. INTRODUCTION SGST full formis State Goods and Service Tax and covers under the State Goods and Service Tax Act (SGST) 2017. A collection of SGST is the revenuefortheStateGovernment.Allthestatetaxes,likeValueAddedTax, EntertainmentTax,LuxuryTax,andEntryTax,aremergedunderSGST.

  4. BENEFITSOF SGST EasyTax Structure-Rather than paying17 types of taxes, manufacturers and consumers must comply with the GST taxlaws, which can be viewed byclicking this link. Simple OnlineProcedurefor Filing Tax Returns- Filing GST returns is effortless and can be handled byany computer-savvy business owner. Transparency and Ease of Doing Business- Everything is transparent, as the tax structure is clear and easy to understand. This reduces red- tapism and the scope for corruption and encourages businesses to pay their taxes honestly.

  5. SGSTRATESOFDIFFERENT COMMODITIES 1234 \Householdnecessitieslikecoffee, tea,spices,edibleoil,andsugar- 2.5% Hairoil,soapandtoothpaste, Capitalgoods,andIndustrial intermediaries-9% Luxuryitems,premiumcars,andconsumer durableslikeACandrefrigerators, cigarettes,andaerateddrinks-14% Life-savingdrugs,coal,andIndian sweets-2.5%

  6. DIFFERENCEBETWEENCGSTANDSGST RegardingthetypesofGST,thereisadifferencebetweenCGSTandSGST. TheshareoftaxrevenueunderCGSTisforthecentralgovernment,andtheallocationoftax revenueunderSGSTisforthestategovernment. TaxesunderCGSTareCentralExciseDuty,CentralSalesTaxCST,andServiceTax,whereas taxesunderSGSTareStateSalesTax,VAT,LuxuryTax,andEntertainmentTax.

  7. CONCLUSION With this blog, we will give an overview of SGST in India. If you are a business owner, accountant, or someone who wants to start a business of their own, now is the best time to learnabouttheGSTBillingSoftware. Eazybills is considered a premium accounting software for GST compliance. This online GST software carries various features to allow for easy alliance between accountants and employees.EazybillsiseasytouseandwillkeepyouontrackforbeingGSTcompliant.

  8. THANKYOU! EAZY BILLS 7068073935 www.eazybills.com info@eazybills.com

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