GST Solution

India-China border tension: PMO seeks product-wise details to curb China imports -

India-China border tension: PMO seeks product-wise details to curb China imports China accounts for about 14 per cent of India's imports and is a major supplier for sectors like cell phones, telecom, power, plastic toys and critical pharma ingredients.

For reverse calculation of GST
For 28% its 21.875%
For 18% it's 15.25%
For 12% its 10.72%
For 5% it's 4.765%
For 3% it's 2.92%
For Retailers
Formula for reverse GST calculation on MRP
for
GST 5% = .95238 x MRP
GST 12% = .89286 x MRP
GST 18% = .84746 x MRP
GST 28% = .78125 x MRP
example MRP 112 GST 12%89286x112 = 100
Please cross check yourself.
FOR RETAILERS FORMULA FOR REVERSE GST CALCULATION ON MRP
GST--5% MRP ÷1.05
GST--12% MRP÷1.12
GST--18% MRP÷1.18
GST--28% MRP÷1.28
FOR EXAMPLE 18% CALCULATION MRP 3000
3000÷1.18=2542
9%=229
9%=229
G.TOTAL=3000

Construction materials GST rate.
Cement-28%
Steel - 18%
River Sand - 5%
Crush Sand - 5%
Aggregate - 5%
Marble and Granite-12-28%
Stone-5%
Red Bricks-5%
Fly Ash Bricks- 12%
Cement Block - 18%
Glass - 28%
Shahabad - 5%
Tiles - 18-28%
Wire and Cable - 28%
Paint and Varnish - 28%
Sanatary Fittings - 28%
GI Fittings - 18%
CP Fittings - 18-28%(Depends on Base Material)
Wallpapers - 28%
Key Locks - 18%
Wooden Door and window - 28%
Aluminium Windows - 18-28%.

Credit availibility at every stage.

GST offers tax credit at every stage thereby taxing only value addition.

GST is Value added Tax.

GST is Value added Tax on activity of supply of goods and / or services , irrespective of such activity being manufacture of goods, sales of goods (intra-state sale), provisioning of services or consumption of goods and services.

France was the first country to implement GST in 1954. Within 62 years , about 160 countries has adopted GST.

12-4-2017 :- Central GST Legislation - CGST Bill,2017, IGST Bill,2017, UTGST Bill,2017, GST (Compensation to states ) Bill , 2017 received assent of president and Bills enacted.

29-03-2016:- Central GST Legislation - CGST Bill,2017, IGST Bill,2017, UTGST Bill,2017, GST (Compensation to states ) Bill , 2017 Passed in Lok-Sabha