Tax Gram

The GST will subsume almost all state and central level indirect taxes and levies in India. The Goods and Service Tax (GST) that is slated to come into force from July 1 will subsume all these taxes into one. Taxes that will collapse under GST are as under
-Central Excise Duty
-Service Tax
- Countervailing Duty
- Special Countervailing Duty
-Value Added Tax (VAT)
-Central Sales Tax (CST)
-Octroi
-Entertainment Tax
-Entry Tax
-Purchase Tax
-Luxury Tax
-Advertisement taxes
-Taxes applicable on lotteries

All transactions such as sale, transfer, barter, lease, or importation of goods and/or services made for consideration will attract GST

GST Schedule for 1st July rollout

Deadline for bank saving account holders to give PAN extended to June 30, 2017