Goods and service tax and its Implementations

 Goods and service tax and its Implementations

Adv. Elumalai M.com, MBA, LLB, is currently working as a legal advisor and senior Manager Accounts in an MNC company and  is also having an experience of 20 years in the field of corporate financial sector. 

He gave an introduction over the good and service tax and its implementations and positives and negatives of the implementation of GST in the corporate sector. The speaker gave an overview about the Indirect taxation method before the implementation of GST. 

He also gave an overview on the other Goods and Service Tax acts i.e the IGST, SGST, UGST, CGST. the speaker stated that IGST is a tax levied on all Inter-State supplies of goods and/or services and will be governed by the IGST Act. when the buyer and the seller of the goods or service provider and service receiver are in the different state IGST is applicable.

He also spoke about the valuation procedures of GST and the exemption for the regulation limits of the Goods and Service Tax. The sections dealt with the exemptions of the Goods and service tax act.