BE alert-----CA students

i am having the same query. If anyone knows, pls update us.

Can anyone tell me wat Is GST?

GST- goods & services tax and will be applicable from 1st april 2010 also it will replace VAT..

as per my knowledge.....

nidhi

As we all know that for CA examinations in a particular year we study Finance Act of the previous year for e.g. CA examinations of June & Nov 2009 have questions based on Finance Act, 2008.

So for the next year i.e. CA examinations of May & Nov 2010, we will have to study Finance Act, 2009. There is no levy or introduction of  GST in Finance Act, 2009 therefore it will not be asked atleast in the next year's examination.

May be from May & Nov 2011.

no idea

 i think that it may be applicable from Nov 2011attempts

GUD EVNG GENTLEMEN, THIS IS PRATIK MORE FROM KOLKATA IS GOING TO ANSWER IT,

FIRST OF ALL " GOODS & SERVICE TAX (GST) WILL BE APPLICABLE FROM 01/04/2010, AS PER FM'S SAID IN HIS BUDGET 2009, & IT REPLACES ONLY SERVICE TAX, NOT VALU ADDED TAX (VAT). MOST OF THE STUDENTS HAVE A QUERY THAT IT REPLACES VAT, IT WULD NEVER B HAPND, BCOZ SERVICE TAX IMPLIED ON SERVICE PROVIDED OR TO B PROVIDED FOR GOODS TO SERVICE RECIPIENT, WHETHER VAT IS IMPLIED ON GOODS PRODUCED & SALE, THAT IS CHARGED FIRST ON MANUFACTURER & PASSES ON TO USERS LATER ON."

    2ND THING IF IT WOULD BE APPLICABLE 4RM ABV MNTD DATE, THEN IN CA FINAL IT APPLIED 4RM MAY 2011 EXAMS".

Will be applicable from May 2009 onwards ... not to worry !!

may 2009? come on....DMC has given the correct answer...

The GST will replace Excise ,Service Tax ,CST and all State VAT. GST will be a dual tax system ,in which there will be one State GST and one Central GST.  That is what I know.Can any having any idea how this will be levied?

Hi All,

Some good and basic info on GST attached. This is useful immeterial of which attempt question on GST will be asked.

Regards,

Mahesha M

be  ready  for  anything  if  u  want  to  pass  ca  final.