Micro, Small and Medium Enterprises verses GST
Indirect taxes apply to goods and services in central and local governments in India. GST is intended to include all these taxes in full ITC as one tax and costs for both goods and services. Therefore, some excise duties, special taxes, service tax and value added tax have been abolished and added to GST. To this end, the GST consists of three parts: CGST, SGST and IGST. Central taxes such as consumption tax are included in CGST and taxes such as value added tax (VAT) are included in SGST. In order to introduce GST in the above form, the government must absorb all taxes and implement the constitutional amendments to achieve the proposed purpose for the State to tax the Union list. Without these permissions, you cannot legally transfer to GST. Therefore, for all transactions of goods and services, GST, consisting of CGST and SGST, applies only one tax. IGST is applied instead of SGST for weekly transactions. Input credits for all taxes are available for all eligible outputs. To implement GST successfully, governments need both governments.