{"id":2678,"date":"2017-06-26T14:47:00","date_gmt":"2017-06-26T09:17:00","guid":{"rendered":"https:\/\/www.krgpharmachem.com\/?page_id=2678"},"modified":"2017-06-28T20:11:30","modified_gmt":"2017-06-28T14:41:30","slug":"blogs","status":"publish","type":"page","link":"https:\/\/krginternational.com\/en\/blogs\/","title":{"rendered":"BLOGS"},"content":{"rendered":"<p><section   class=\"fw-main-row-custom fw-main-row-top fw-section-no-padding  fw_theme_bg_fw-custom fw-section-image fw-section-height-md fw-content-vertical-align-middle fw-section-position-back tf-sh-c919549bf5962bcfa87d05aefb1743a6\"  style=\" background-image:url(https:\/\/www.krgpharmachem.com\/wp-content\/uploads\/2017\/06\/chemical-industry-krg-pharmachem-internationalblog.png); background-repeat: no-repeat; background-position: center center; background-size: cover;\"  >\n\t\t\t<div class=\"fw-container-fluid\" >\n\t\t<div class=\"fw-row\">\n\t<div id=\"column-6a100c07bbcff\" class=\"fw-col-sm-12 tf-sh-5f1279a1b516040f7cb93b921773f71e\" >\n\t<div class=\"fw-wrap-col-inner clearfix  \"   >\n\t\t\t\t<div class=\"fw-col-inner\">\n\t\t\t<div class=\"fw-heading fw-heading-center  fw-animated-element tf-sh-f339f628d2c496c7c140c97395400a0f\"  data-animation-type=\"bounceIn\" data-animation-delay=\"200\">\n\t\t\t<h1 class=\"fw-special-title\"><strong>KRG INTERNATIONAL BLOG <\/strong><\/h1>\n\t\n\t\n\t<\/div>\t\t<\/div>\n\t<\/div>\n<\/div><\/div>\n\n\t<\/div>\n\t<\/section><section   class=\"fw-main-row  auto  fw-section-position-back\"    >\n\t\t\t<div class=\"fw-container\" >\n\t\t<div class=\"fw-row\">\n\t<div id=\"column-6a100c07bc112\" class=\"fw-col-sm-4 tf-sh-4d4167364078cbb2c5b568d1f069f308\" >\n\t<div class=\"fw-wrap-col-inner clearfix  \"   >\n\t\t\t\t<div class=\"fw-col-inner\">\n\t\t\t<div class=\"fw-flip-box fw-flip-box-slide-down-flip fw-flip-box-content-align-left clearfix  tf-sh-38cd2f996b9d5c796ec1a6abee4c6279\" >\n\t<div class=\"fw-flip-box-wrap\">\n\t\t<!-- Front  -->\n\t\t<div class=\"fw-flip-box-front\">\n\t\t\t\t\t\t<div class=\"fw-flip-box-content\">\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"fw-flip-box-image fw-block-image-parent\">\n\t\t\t\t\t\t<div class=\"fw-block-image-child fw-noratio fw-ratio-container\">\n\t\t\t\t\t\t\t<noscript itemscope itemtype=\"https:\/\/schema.org\/ImageObject\" itemprop=\"image\"><img decoding=\"async\" src=\"https:\/\/krginternational.com\/wp-content\/uploads\/2017\/06\/gst-compliance-procedure-hsn-tax-rate-india-1-july-chemicals.png\"  alt=\"gst-india-igst-cgst-sgst-chemical-supplier-hsn\" data-maxdpr=\"1.7\" class=\"lazyload\" \/><meta itemprop=\"url\" content=\"https:\/\/krginternational.com\/wp-content\/uploads\/2017\/06\/gst-compliance-procedure-hsn-tax-rate-india-1-july-chemicals.png\"><meta itemprop=\"width\" content=\"555\"><meta itemprop=\"height\" content=\"486\"><\/noscript><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-sizes=\"auto\" data-srcset=\"https:\/\/krginternational.com\/wp-content\/uploads\/2017\/06\/gst-compliance-procedure-hsn-tax-rate-india-1-july-chemicals.png\"   alt=\"gst-india-igst-cgst-sgst-chemical-supplier-hsn\" data-maxdpr=\"1.7\" class=\"lazyload\" \/><span class=\"fw-after-no-ratio\" style=\"padding-bottom: 87.567567567568%\"><\/span>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<!-- Back -->\n\t\t<div class=\"fw-flip-box-back\">\n\t\t\t\t\t\t<div class=\"fw-flip-box-content\">\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"fw-flip-box-image fw-block-image-parent\">\n\t\t\t\t\t\t<div class=\"fw-block-image-child fw-noratio fw-ratio-container\">\n\t\t\t\t\t\t\t<noscript itemscope itemtype=\"https:\/\/schema.org\/ImageObject\" itemprop=\"image\"><img decoding=\"async\" src=\"https:\/\/krginternational.com\/wp-content\/uploads\/2017\/06\/2146731_orig.png\"  alt=\"Chemical-supplier-Manufacturer-lactose-menthol-jelly-glycerine\" data-maxdpr=\"1.7\" class=\"lazyload\" \/><meta itemprop=\"url\" content=\"https:\/\/krginternational.com\/wp-content\/uploads\/2017\/06\/2146731_orig.png\"><meta itemprop=\"width\" content=\"589\"><meta itemprop=\"height\" content=\"450\"><\/noscript><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-sizes=\"auto\" data-srcset=\"https:\/\/krginternational.com\/wp-content\/uploads\/2017\/06\/2146731_orig.png\"   alt=\"Chemical-supplier-Manufacturer-lactose-menthol-jelly-glycerine\" data-maxdpr=\"1.7\" class=\"lazyload\" \/><span class=\"fw-after-no-ratio\" style=\"padding-bottom: 76.400679117148%\"><\/span>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/div>\t\t<\/div>\n\t<\/div>\n<\/div><div id=\"column-6a100c07bc99d\" class=\"fw-col-sm-8 tf-sh-6e61807d5e43214ad132c871586561c9\" >\n\t<div class=\"fw-wrap-col-inner clearfix  \"   >\n\t\t\t\t<div class=\"fw-col-inner\">\n\t\t\t<div class=\"fw-text-box tf-sh-fcdab9e7fc1b7c0f8d5c7de2d8000ab8 \" >\n\t<div class=\"fw-text-inner\">\n\t\t<p><strong>GST in India and its coverage<\/strong><\/p>\n<p>GST is a destination-based tax that will replace the current Central taxes and duties such as Excise Duty, Service Tax, Countervailing Duty (CVD), Special Additional Duty (SAD) of Customes, Central charges and cesses and local States taxes i.e. Valur Added Tax (VAT), Central Sales Tax (CST), Octroi, Entry Tax, Purchase Tax, Luxury Tax, Taxes on lottery, betting and gambling, State cesses and surcharges and Entertainment tax.<\/p>\n<p>It will be a dual levy with State\/Union Territory GST and Central GST. Moreover, inter-State supplies would attract an Integrated GST, which would be the sum total of CGST and SGST\/UTGGST.<\/p>\n<p>Petroleum Products, i.e. petroleum crude, high speed diesel, motor spirit, aviation turbine fuel, natural gas will be brought under the ambit of GST from 1st' July' 2017. Alcohol for human consumption has been kept outside the purview of GST.<\/p>\n<p>Consensus between Central and State Government has been reached on four-tier rate structure viz. 5%, 12%, 18% and 28% for essential commodities.<\/p>\n<p><strong>Benefits of GST<\/strong><\/p>\n<p>GST has been envisaged as a more efficient tax system, neutral in its application and attractive in distribution. The advantages of GST are:<\/p>\n<ul>\n<li>Wider tax base, necessary for lowering the tax rates and eliminating classification disputes.<\/li>\n<li>Elimination of multiplicity of taxes and their cascading effects.<\/li>\n<li>Rationalization of tax structure and simplification of compliance procedures<\/li>\n<li>Harmonization of Centre and State tax administrations, which would reduce duplication and compliance costs.<\/li>\n<li>Automation of compliance procedures to reduces error and increase efficiency<\/li>\n<\/ul>\n<p><strong>Destination principle<\/strong><\/p>\n<p>The GST structure would follow the destination principle. Accordingly, import would be subject to GST, while exports would be zero-rated. In the case of inter-state transactions within India, the State tax would apply in the State of destination as opposed to that of origin.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n\t<\/div>\n<\/div>\t\t<\/div>\n\t<\/div>\n<\/div><\/div>\n\n\t<\/div>\n\t<\/section><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KRG INTERNATIONAL BLOG GST in India and its coverage GST is a destination-based tax that will replace the current Central taxes and duties such as Excise Duty, Service Tax, Countervailing Duty (CVD), Special Additional Duty (SAD) of Customes, Central charges and cesses and local States taxes i.e. Valur Added Tax (VAT), Central Sales Tax (CST), [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"visual-builder-template.php","meta":{"footnotes":""},"class_list":["post-2678","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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