These are Some Frequent Questions, I generally get, So thought to write a blog about it.

Q.1) What is GST?

GST is Goods & Service Tax basically the main form of Commercial TAX that comes in to effect in India from July 1, 2017. It replaces all the existing types of taxes like VAT, CST & EXCISE etc.

Q.2) What is GST tax slab rate?

Q.3) Has it replaced all the Previous Taxes like VAT, CST & EXCISE?

Yes. But for some exceptional cases like Liquor, the Value Added Tax still exists & GST is not been implemented.

Q.4) How do I apply for GSTIN (GST REGN NUMBER) online?

As we all know it is Goods & Service Tax. Basically it a single tax which replaces various kinds of taxation that was there earlier like VAT (Though VAT is still there for Liquor Items ), CST, EXCISE, SERVICE TAX, etc. So ultimately it a very good thing to have theoretically but the practicality it is bit different.

It has impacted both buyer & seller but it has really impacted severely to the small traders & small eCommerce sellers in EBAY or Amazon. See my article below.

TAX SLAB

Product - 0%, 5%, 12%, 18%, 28%

Service - 18%

GST IMPACT ON SMALL TRADERS / ECOMMERCE SELLERS

From Buyers Prospective,

Always no matter whatever the taxation system is the buyer has to carry the burden of it, so see below how it affect a buyer,

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The documents you require for Proprietorship registration,