? GST FAQ - Free Online GST Invoice Printing Software

FAQs of GST

GST is a kind of Indirect Tax and many Indirect Taxes in the India are replaced by it.
  • GST is called Goods and Service Tax
  • On the date of 1st July 2017 act for GST came into effect.
  • GST is levied on the supply of goods and services
  • At every point of sale GST is levied.
  • Central GST (CGST) and State GST (SGST) is charged in the case of intra-state sales (Sales within the same state)
  • Integrated GST (IGST) is charged in the case of interstate Sales (Sales between different states)
  • All previous complex tax systems of the India are replaced by GST.

Advantage

  • The Cascading Effect of tax Eliminated when GST came into effect.
  • GST is a simple tax system with fewer exemptions.
  • In GST for small businesses whose turn over less than 1 Crore Composition scheme available.
  • The Online procedure of GST is very simple and easy.
  • With the help of the GST, the tax administration of the India will be easy and lean.

Disadvantage

  • After Lauching of GST Real state rates has become high.
  • In India Under GST some services has become costlier like telecom, airline and banking service etc.
  • For small businesses’s cost increased b’coz GST is Online Taxation system and many people not able to do GST filling online so they hire professionals for filling.
  • GST impacts on discounts.
  • Many businessmen across India still unaware about GST System.
There are five types of tax slabs of GST in India
  1. 0%
  2. 5%
  3. 12%
  4. 18%
  5. 28%
There are Four types of GST in India
  1. CGST (Central GST)
  2. SGST (State GST)
  3. IGST (Integrated GST)
  4. UTGST (Union Territory GST)
GST Levy System
  • GSTN stand for Goods and Service Tax Network. It is a non-government & non-profit organization.
  • GST portal is managed by GSTN, in other words we can say that entire IT system of GST portal managed by GSTN & It is IT Backbone of GST in India.
  • Government used GSTN for track Taxpayers financial transactions. GSTN provides all services like GST registration to GST return filling to taxpayers.
  • 51% shares in GSTN is owned by private sector & 49% shares in GSTN is owned by Government (State & Center Government).
Shareholders is List –
# Shareholder
1 Central Government
2 State Governments & EC
3 HDFC
4 HDFC Bank
5 ICICI Bank
6 NSE Strategic Investment Co
7 LIC Housing Finance Ltd
Total :
  • Full form of GSTIN is Good and Service Tax Identification Number.
  • Each Taxpayer has unique 15 digit GSTIN number.
  • Each digit has unique identity in GST Number.
  • Each state is assigned unique code, which is used as a part of GSTIN Number
  • The cost of registering for GST is Free of cost.

GSTIN Format

Different States with State code is given in below table

# State Name
1 Jammu And Kashmir 1
2 Himachal Pradesh 2
3 Punjab 3
4 Chandigarh 4
5 Uttarakhand 5
6 Haryana 6
7 Delhi 7
8 Rajasthan 8
9 Uttar  Pradesh 9
10 Bihar 10
11 Sikkim 11
12 Arunachal Pradesh 12
13 Nagaland 13
14 Manipur 14
15 Mizoram 15
16 Tripura 16
17 Meghlaya 17
18 Assam 18
19 West Bengal 19
20 Jharkhand 20
21 Odisha 21
22 Chattisgarh 22
23 Madhya Pradesh 23
24 Gujarat 24
25 Daman And Diu 25
26 Dadra And Nagar Haveli 26
27 Maharashtra 27
28 Andhra Pradesh(Before Division) 28
29 Karnataka 29
30 Goa 30
31 Lakshwadeep 31
32 Kerala 32
33 Tamil Nadu 33
34 Puducherry 34
35 Andaman And Nicobar Islands 35
36 Telangana 36
37 Andhra Pradesh (New) 37

The List of taxes In Previous Tax structure of India which were levied and collected by Central Government of India & State Government

# Levied & Collected By Central Government
1 Central Excise Duty
2 Additional Excise Duties
3 Excise Duty levied under the Medicinal and Toilet Preparations (Excise Duties) Act, 1955
4 Service Tax
5 Additional Customs Duty commonly known as Countervailing Duty
6 NSE Strategic Investment Co
7 Special Additional Duty of Customs
8 Central Surcharges and Cess, so far as they relate to the supply of goods and services.

All above listed Taxes replaced by GST.

  • In 2000 Year GST's Journey started when a committee was set up to draft law.
  • On 1st July 2017 the GST came into effect when GST bill was passed in the Lok Sabha & Rajya Sabha in 2017.
CGST, SGST & IGST are types of GST, all levied on Goods and Services.
  • Full Form of CGST is Central Goods and Service Tax that is levied on Intra-State supply of Goods & Services and governed by Central Government of India.
  • Full Form of SGST is State Goods and Service Tax that is levied on Intra-State supply of Goods & Services and governed by State Government of India.
  • Full Form of IGST is Integrated Goods and Service Tax that is levied on Inter-State supply of Goods & Services and governed by Central Government of India.

About Us

GST Invoice Printing is a feature rich invoice printing software tool for the small business & medium sized company. You can choose invoice formats for print, efficiently and accurately, by using what-you-see-is-what-you-get. It handles multiple levels of taxation very easily with inbuilt expression decoder. GST Invoice, VAT or CST Invoice, Jobwork Bill etc… can be configured and used.

Contact Us

+91 93 76 918701