Goods & Services Tax (GST) is a thorough, multi-stage, destination-based tax that will be taxed on each value addition.
Currently, India’s tax arrangement is split into two – Direct and Indirect Taxes. Direct Taxes are levied where the accountability cannot be moved on to somebody else. An example of this is Income Tax where you get the wages and you alone are responsible for paying the tax on earned salary.
In Indirect Taxes, the liability of the tax can be moved on to somebody else. This implies that whenever the tradesman must pay VAT on his trade, he can pass on the liability to the consumer. So, in the result, the consumer pays the cost of the article as well as the VAT on it so the tradesman can deposit the VAT to the government. This means that the buyer obliged to pay not just the price of the product, but consumer also pays the tax liability, and consequently, he has a larger outlay when he purchases an article.
This happens because the tradesman has paid a tax when he purchased the article from the wholesaler. To recover that price, as well as to make up for the VAT he is obliged to pay to the government, he claims the liability to the consumer who has to pay the extra amount. There is currently no other system for the shopkeeper to recover whatsoever he pays from his own pocket while buying and therefore, he has no other option just to pass on the liability to the consumer.
In upcoming paragraphs, I will take you on a journey to explore the Best GST Books in India. GST or Goods and Services Tax Books list with latest editions that will help you learn this new tax reform in a simplistic way.
GST or Goods and Services Tax is India’s biggest tax reform that has been made applicable in India 1st July 2017. So, whether you are a tax consultant, an industrialist, a small businessman, a service provider, Chartered Accountant, Blogger, or a common man, you must collect necessary erudition in order to comply with the new GST stipulations.
Here is the books list which I am sharing with you with a little bit of description which will help you to Choose the best one.
- Bharat’s GST Rates of Tax, 2nd ed.
- Bharat’s GST: Rates of Tax (As amended up to 12-06-2017)
- Good & Services Tax Manual: Containing GST Acts, Rules and Rates of Tax, 2nd ed.
- Bharat’s GST, 2nd ed. (In 2 Volumes)
This book contains GST rates Schedule for tax along with exemptions and concessions. It also includes the schedule of rates for Services. You can find The Central Goods and services Act(CGST), 2017 (No.12 0f 2017), The Integrated Goods and Services Tax Act(IGST), 2017 (No.13 0f 2017), The Union territory Goods and Services Tax Act(UT-GST),2017, (No.14 0f 2017), and The Good and Services Tax Act (GST), 2017 (No.15 0f 2017) under Bharat’s GST Rates of Tax and Compensation cess.
Bharat’s GST: Rates of Tax (As amended up to 12-06-2017)
This among the first published GST Books by Bharat Laws and you can find this copy to know what are the changes done by Government initially. It’s a good book included everything in precise.
Good & Services Tax Manual: Containing GST Acts, Rules and Rates of Tax, 2nd edition
This is the best handy manual on GST and it contains GST acts and rules in brief. It Includes GST, IGST, and UGST in detail. You can find this GST book very helpful.
Bharat’s GST, 2nd ed. (In 2 Volumes)
This GST Bharat’s GST “Knocking your door …welcome it” explains GST systematically with ease to understand charts and tables. Chapters are based on CGDST, IGST, UT-GST and GST (Compensation to States) Act, 2017. It has incorporated effect of Rules approved by GST council up to 12-06-2017
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