Taxbase GSTPro Description
The biggest tax reform in Independent India's history, in the era before indirect taxation, is GST. As per the Constitution, both the central government and the state government had the rights to levy various duties and taxes on various activities, such as the sale of goods and services. However, tax on sale of goods used to fall under the State Revenue, while tax on sale of services was the responsibility of the Centre. This bifurcation is now history thanks to the introduction of GST. The above structure resulted into different State VAT Acts, such as Maharashtra VAT and Gujrat VAT, along with variations in local taxes by the State Government. The post GST scenario will be completely different. All taxes will be merged into one tax called GST. India has chosen to implement dual GST, where intra-state transactions are subject both to SGST and CGST.
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