Pls do subscribe to our channel and stay tuned for more interesting videos. We will keep sharing the knowledge, request you to share about our channel with your friends and family too... It will be a big help...
+Soumya Studies (S10 Studies) you must improve your picture quality and speak full in english I like that video good congrats to that little girl you have a great future All the best..
Please explain whether oor notn subsequent sale the CGST will be levied on the value added amount or nor. Earlier under Excise there is no excise on the susequent value addition,
Manoj, GST is consumption oriented tax. It is levied at last leg of the product or service. Please watch this video to understand the working: th-cam.com/video/09dVFwOmfgw/w-d-xo.html
Hi,thanks for explaining.But the difference in tax is not too much.Then why are parties fighting?Does this mean that there will be less tax for state govts?
We are not able to understand what do you mean by 'difference in tax is not too much'. GST has been passed by Parliament almost unanimously. For few state governments, which are manufacturing states, tax collection will reduce due to GST.
Nicely explained. Can you please tell what will be the impact for pharmacies? Secondly, can you explain for pharmacies should the GST be calculated on sale rate or MRP?
Taxation part is not clear but we are not anticipating too much impact tax wise. Definitely there will be improvement in efficiencies and less tax evasion. GST will be calculated on invoice generated not on MRP.
well explained thanks a lot .will the prices of the product goes down or the revenue for the government goes down ? And what will happen to the input tax credit system?
Revenue of Govt will surely go up as more people will come under tax net and cash transactions would decrease. Overall impact on pricing shouldn't be much if the GST rate is kept at 18% or less. Few items will become costlier such as most of the services price will increase but there will be productivity gains due to lower logistic cost, better truck utilisation which should offset increase in tax rate.
hello .! I know this is out of context. but I have a request . can u please make a video on customs , custom duty and the rules to be followed related to the custom act 1962.
Actually they will gain from extra tax as GST will make tax evasion difficult and more sectors will be tax come under tax net. please see our video titled GST impact on inflation, tax evasion and black money.
Nice video. In one of the videos by some other person it was demonstrated that gst reduces tax burden to a much greater extent than shown over here. They told that for e.g. their are three stages..manufacturer, wholesaler and retailer, then the tax paid at each set would be offset by the previous stage. Can you explain the link between the two videos please. Thanks a lot.
Yes, but the amount of benefit will depend on final GST structure. GST rate structure could be various bands - Essentials, Standard and Luxury rate. Standard rate is expected to be around 18%. and luxury could be as high as 30%. So, it all depends which category your chosen sedan comes which will determine the benefit or loss.
Sir If I buy a car in punjab today and register the same in Himachal, I will have to pay an extra tax of 5% in Himachal. Will this tax be subsumed in GST?
Here is an example -A Vendor sells a product X to Manufacturer @Rs 100 and pays a tax of Rs 10 (10%). Sale Price of the product becomes Rs 110. Manufacturer adds value to product X and sells it at @Rs 200 and pays tax of Rs 20 (10%). This is Tax on Tax. But with GST, Manufacturer has to pay tax only on Value add. He added value to make product from Rs 110 to Rs 200 i.e. Rs 90. So he needs to pay only 10% of Rs 90 = Rs 9 tax only and not Rs 20. So with GST tax is on value addition and not Tax on Tax. You may understand this better in second part of this video - th-cam.com/video/09dVFwOmfgw/w-d-xo.html Let me know if you have more question.
Yadnya Investment Academy wow superb..... can u please make a very lucid video on tax on tax "cascading effect " ...what is it... n how gst removed it....... and also in the video try and explain showing life time examples how the gst is levied... but please make it very simple in explanation.. thankyou.... i hope the video can help many people from non economic backgrounds.
I didn't understand one thing.. Its definitely good for people but how does this affect government.. Isnt it like there will be less revenue for the government??is it beneficial for the government too??
AK I have also made a video on GST plz I am new on You Tube I need your support must watch it.. Just click my icon ↖ and there you will be on my channel and plz watch latest video..🙏🙏
Absolutely! Though structure is not entirely clear but this is most likely scenario.There is a probability that GST number may also be not required and everything is tagged to your company's PAN number. Let's see how easy they create the structure.
+Shanjeev Kumar Calculation are correct. I am reproducing it again here. Product price = ₹100 Excise @10% = ₹10 Subtotal = ₹110 VAT on subtotal @14%=14%×₹110= ₹15.4 Total Tax= Excise + VAT = ₹25.4 Total price of product= Original price + Total Tax = ₹100 + ₹25.4 = ₹125.4 Hope this explains.
Those people who are not paying any kind of tax will come under this law. As whoever is purchasing any good from them will need to claim earlier taxes for avoiding double taxation. So, this way a lot of unclaimed business will come into picture and through these trades GDP will increase and accordingly tax collection will also increase.
+Yadnya Investment Academy Thanks for the reply.I get it.Also, The Revenues of mineral rich states like Jharkand would increase because a large part of the tax will be collected from the supplier.Isn't it?.You discussed only excise tax (which is for manufacturing) in the video.What do u call the tax on these raw materials?.
Actually, their revenue from Mining will decrease. Mining currently attracts many indirect taxes - Service Tax, State VAT etc. GST is applied at consumption point and therefore Mining will become more competitive as their service tax and State VAT will go away and if they export, only custom will apply.
Hi Sandeep GST is a type of VAT tax only. VAT is a Value Added Tax where Tax is applied only on the value added by the vendor and not on the sales price. Watch the second part of this video and you will understand exactly how VAT works (GST and VAT works in same way, only difference is in their structure). th-cam.com/video/09dVFwOmfgw/w-d-xo.html
Manufacturing States will lose revenue as GST is a tax where consumption happens. So states like Gujarat, Maharashtra and Tamil Nadu will lose revenue. But states where lot of consumption happen such as UP, Bihar, West Bengal, MP etc will gain a lot from GST.
cannot be explained more simple than this!!! TQ
Thanks a lot Muralidharan. These words encourage us!
Very good video. But had to play it at 1.5x to keep myself through it till the end.
thanks for the detailed explanation, being from a non commerce background this cleared a lot of doubts..
Adil, glad that the video helped.
Very nicely and discreetly explained and presented in the most simplest way ...🙌🏻well done !!
Thanks a lot for your encouraging words.
Thanku so much.! very informative.!
Thanks a lot Somya.
Wow....... Perfect for layman...
Excellent Video bro, Simple and professional keep up the good work
Thanks a lot Mr Venkat for your genuine feedback :)
very well explained , easy to comprehend.
Thank you :)
very nice .. please keep uploading . share your knowledge with us 😃
Pls do subscribe to our channel and stay tuned for more interesting videos. We will keep sharing the knowledge, request you to share about our channel with your friends and family too... It will be a big help...
suprb explained thanx for the video sir...
Glad you liked our video. Pls do subscribe to our channel and stay tuned for more interesting videos.
Thank you
I will give a seminar of GST to watch this super video
Thanks
+Soumya Studies (S10 Studies) you must improve your picture quality and speak full in english I like that video good
congrats to that little girl
you have a great future
All the best..
very nice about GST bil
what an excellent explanation !!!
Very nicely explained in a simple manner..Thanks..
Thanks dear. Pls do share our videos with your friends and help us spreading awareness...
A nice video that beautifully depicted what GST is.
I've a doubt in GST. Till now SEZs have no excise. How does the same will be dealt in GST regime?
SEZ will still enjoy that benefit.
Good explanation..... Keep on posting such videos
Thank you. Surely we will keep posting. Stay tuned and do tell your friends as well...
well explained.. thank you sir.
Thanks for your feedback!!!
Please explain whether oor notn subsequent sale the CGST will be levied on the value added amount or nor. Earlier under Excise there is no excise on the susequent value addition,
Manoj, GST is consumption oriented tax. It is levied at last leg of the product or service. Please watch this video to understand the working:
th-cam.com/video/09dVFwOmfgw/w-d-xo.html
so v v good for gst explain
Thanks
so, you mean to say during preGST era we had to pay VAT on the sum total of selling price of goods and central excise ?
Yes.
Thanks.
Now one more question is what about professional tax and cess ?
Nothing will change in Income Tax. It will remain as is.
GST is an indirect tax and Income Tax is a direct tax.
Hi,thanks for explaining.But the difference in tax is not too much.Then why are parties fighting?Does this mean that there will be less tax for state govts?
We are not able to understand what do you mean by 'difference in tax is not too much'.
GST has been passed by Parliament almost unanimously. For few state governments, which are manufacturing states, tax collection will reduce due to GST.
Good explanation. Thanks
Happy to help. Pls help us spread GST awareness by sharing this video with your friends and family too..
Nicely explained. Can you please tell what will be the impact for pharmacies? Secondly, can you explain for pharmacies should the GST be calculated on sale rate or MRP?
Taxation part is not clear but we are not anticipating too much impact tax wise. Definitely there will be improvement in efficiencies and less tax evasion.
GST will be calculated on invoice generated not on MRP.
well explained thanks a lot .will the prices of the product goes down or the revenue for the government goes down ? And what will happen to the input tax credit system?
Revenue of Govt will surely go up as more people will come under tax net and cash transactions would decrease. Overall impact on pricing shouldn't be much if the GST rate is kept at 18% or less. Few items will become costlier such as most of the services price will increase but there will be productivity gains due to lower logistic cost, better truck utilisation which should offset increase in tax rate.
Input tax credit system will work as is but it will go online and will happen through GST network. And it will PAN based.
Hi Krishna, I am sure our new video will solve your query better
th-cam.com/video/09dVFwOmfgw/w-d-xo.html
WELL EXPLAINED
will GST be a tool to increase foreign investment....
pls explain with reasons....as soon as possible
Yes of course. With better and transparent taxation, ease of doing business improves which in turn attracts more foreign investment
beautifully explained!
Thanks Krutika
hello .! I know this is out of context. but I have a request . can u please make a video on customs , custom duty and the rules to be followed related to the custom act 1962.
Somya, it will take some time but we have noted your request.
Yadnya Investment Academy . Thanku so much. would wait for it.!
Thanks a lot. Well explained. So wouldn't the government be loosing out on tax revenue if this was in place?
Actually they will gain from extra tax as GST will make tax evasion difficult and more sectors will be tax come under tax net. please see our video titled GST impact on inflation, tax evasion and black money.
easily understandable...
your explanation clear all of my doubts regarding GST.btw Can you tell me that cgst across all states has to be same or not?
Yes, for one product - CGST, IGST and SGST (for most items) will be same
Well explained. Could you create and post a video for "what is IPO and how it works ". Thanks in advance.
Thanks for appreciation and suggestion. Will surely work on this video!
Good
thanks dear.....
Nice video. In one of the videos by some other person it was demonstrated that gst reduces tax burden to a much greater extent than shown over here.
They told that for e.g. their are three stages..manufacturer, wholesaler and retailer, then the tax paid at each set would be offset by the previous stage. Can you explain the link between the two videos please. Thanks a lot.
video: explained: how gst works by Indian express online
Please see this video of ours and we are sure you will be able to connect - th-cam.com/video/09dVFwOmfgw/w-d-xo.html
If not, please do comment! Thanks
Is it worth waiting until gst is implemented for buying a mid size premium sedan.
Yes, but the amount of benefit will depend on final GST structure. GST rate structure could be various bands - Essentials, Standard and Luxury rate. Standard rate is expected to be around 18%. and luxury could be as high as 30%. So, it all depends which category your chosen sedan comes which will determine the benefit or loss.
+Yadnya Investment Academy
Thank you!
Which writting pad you use
ipad
Very well explained sir,
Dr KUC
Well explained ..
Happy we could help. Pls do tell your friends and family about us and help us spread financial awareness...
ThAnK yOU
If non gst businessman purchase goods from non gst businessman ,whether rcm is applicable to the business man who is purchasing the goods??
No, RCM is not applicable.
Sir
If I buy a car in punjab today and register the same in Himachal, I will have to pay an extra tax of 5% in Himachal. Will this tax be subsumed in GST?
Yes.
Yadnya Investment Academy
thanku :)
What does it meant by tax on tax please explain :)
Here is an example -A Vendor sells a product X to Manufacturer @Rs 100 and pays a tax of Rs 10 (10%). Sale Price of the product becomes Rs 110.
Manufacturer adds value to product X and sells it at @Rs 200 and pays tax of Rs 20 (10%). This is Tax on Tax.
But with GST, Manufacturer has to pay tax only on Value add. He added value to make product from Rs 110 to Rs 200 i.e. Rs 90. So he needs to pay only 10% of Rs 90 = Rs 9 tax only and not Rs 20. So with GST tax is on value addition and not Tax on Tax.
You may understand this better in second part of this video - th-cam.com/video/09dVFwOmfgw/w-d-xo.html
Let me know if you have more question.
Yadnya Investment Academy wow superb..... can u please make a very lucid video on tax on tax "cascading effect " ...what is it... n how gst removed it....... and also in the video try and explain showing life time examples how the gst is levied... but please make it very simple in explanation.. thankyou.... i hope the video can help many people from non economic backgrounds.
nice
GST bill
nice
I didn't understand one thing.. Its definitely good for people but how does this affect government.. Isnt it like there will be less revenue for the government??is it beneficial for the government too??
It is beneficial as more people and organization come under tax and lesser tax evasion.
What will happen to the traders of delhi selling goods to small unregistered traders of other states on cash payments
Our new video should be able to help you answer your question - th-cam.com/video/09dVFwOmfgw/w-d-xo.html
good
AK I have also made a video on GST plz I am new on You Tube I need your support must watch it.. Just click my icon ↖ and there you will be on my channel and plz watch latest video..🙏🙏
HELP, kya GST ke Aane k bad, VAT TIN OR CST NUMBER BAND HO JAYEGE KYA OR GST NUMBER LENA HOGA KYA, PLEASE TELL
Absolutely! Though structure is not entirely clear but this is most likely scenario.There is a probability that GST number may also be not required and everything is tagged to your company's PAN number. Let's see how easy they create the structure.
So I can save 1.40 rs with gst? -_-
yes,you are right!
The VAT for subtotal is 14.4 not 15.4 then only if you add 110+14.4=125.4 we can get.Please correct this mistake in the video
+Shanjeev Kumar Calculation are correct. I am reproducing it again here.
Product price = ₹100
Excise @10% = ₹10
Subtotal = ₹110
VAT on subtotal @14%=14%×₹110= ₹15.4
Total Tax= Excise + VAT = ₹25.4
Total price of product= Original price + Total Tax = ₹100 + ₹25.4 = ₹125.4
Hope this explains.
Thank you now I got it . You are awesome bro :)
Pls do subscribe to our channel and do talk about us to your friends and family too.. will appreciate your help...
great video!!
How is it going to increase tax income for the Government?
Those people who are not paying any kind of tax will come under this law. As whoever is purchasing any good from them will need to claim earlier taxes for avoiding double taxation. So, this way a lot of unclaimed business will come into picture and through these trades GDP will increase and accordingly tax collection will also increase.
+Yadnya Investment Academy Thanks for the reply.I get it.Also, The Revenues of mineral rich states like Jharkand would increase because a large part of the tax will be collected from the supplier.Isn't it?.You discussed only excise tax (which is for manufacturing) in the video.What do u call the tax on these raw materials?.
Actually, their revenue from Mining will decrease. Mining currently attracts many indirect taxes - Service Tax, State VAT etc. GST is applied at consumption point and therefore Mining will become more competitive as their service tax and State VAT will go away and if they export, only custom will apply.
So who is benefitted with GST...people or government?
Both.
Sir please explain VAT
Hi Sandeep
GST is a type of VAT tax only. VAT is a Value Added Tax where Tax is applied only on the value added by the vendor and not on the sales price. Watch the second part of this video and you will understand exactly how VAT works (GST and VAT works in same way, only difference is in their structure).
th-cam.com/video/09dVFwOmfgw/w-d-xo.html
+Yadnya Investment Academy Thankyou sir
low voice seems not active
Pls check again, everything is ok at the back end
I think GST is good for Rich not for Poor.
Yes, at certain level it does impact SMEs more than big corporates but then everyone should be in Tax net.
states will lose revenue-----I think
Manufacturing States will lose revenue as GST is a tax where consumption happens. So states like Gujarat, Maharashtra and Tamil Nadu will lose revenue. But states where lot of consumption happen such as UP, Bihar, West Bengal, MP etc will gain a lot from GST.
dude..just say taxes...why tasksess.?...
:-)