important facts about GST india

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All about GST


1) 1 july 2017 is the GST roll out day.
2) India has chosen Canadian model of dual GST.
3) Only two countries canada and India has dual model of GST.
4) France become first country who implemented GST in 1954. There are total 160 countries adopted GST.
5) India GST tax(28%) slab is the highest tax slab in the world.
6) In India there are four strata of GST tax ie. 5%, 12%  , 18% and 28%.

7) There are three type of GST tax in India CGST, SGST and IGST( Integrated GST).
8) In india 2000, GST was first proposed.
9) In india GST come under "122 Amendment Bill".
10) Under "Constitution Act 101" GST covered.
11)GST council formed under Article number 279A.
12) Chairman of GST finance minister Panel is Amit mishra(WB finance minister).
13) Telagana is the first state that passed GST.
14) Assam is first state to ratify GST Bill.
15) GSTN (GST network ) comes under companies Act. 2013.
16) GST network stake holder: Central + State govt. = 49%.
LIC housing (11%). ICICI , HDFC ,  NSE (10% EACH).
17) HSN ( harmonized system of nomenclature) .
18) Coal comes under GST = 12% slab.

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