The government of India has implemented Goods And Service Tax (GST) on 1 July 2017. GST has an impact on every business industry. When it comes to professional tax, as we all know at present every state government has its own professional tax levying policy and this policy varies from one state to another state. In 1988 the upper limit of professional tax was fixed to 2500 Rs. But now the finance ministry of central government of India has removed that ceiling limit. So finally there is no GST effect on professional tax.
GST Effect On Professional Tax :
What would be the status of professional tax after GST implementation from 1st July 2017. What is GST Effect on professional tax ?
As of now there is no effect on professional tax levied by various state governments even after implementation of GST. As usual every state government like Andhra Pradesh, Maharashtra, Karnataka, West Bengal, Gujarath, Madhyapradesh, Tamilanadu etc. The professional tax of every state will be remained as same.
The main aim of GST is to make one tax for one nation. But as of now GST has Four slab rates like 5%, 12%, 18% and 28 %. These taxes varies from product to product. But the real aim of GST will fulfill when only one slab rate will be implemented.
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