GST will enhance tax rate ..Col Lamba

[25/09 6:52 am] Col Lamba: GST
Is India has any justification to charge High GST rate which is 18%  & on introduction it will be 22% but will settle it at 25%,
When other nations are charging 5 to 9% . They provide social security to citizens but India is Silent on it

Col Lamba
(One man army )
 ....

Goods and services tax (Canada)

The goods and services tax[1][2] (GST) (French: taxe sur les produits et services, TPS) is a multi-level value added tax introduced inCanada on January 1, 1991, by then-Prime Minister Brian Mulroney and his finance minister Michael Wilson. The GST replaced a hidden 13.5% manufacturers' sales tax (MST); Mulroney claimed the GST was implemented because the MST was hindering the manufacturing sector's ability to exportcompetitively. The introduction of the GST was very controversial. The GST rate is 5%, effective January 1, 2008.

The goods and services tax is defined in law at Part IX of the Excise Tax Act. GST is levied on supplies of goods or services purchased in Canada and includes most products, except certain politically sensitive essentials such as groceries, residential rent, and medical services, and services such as financial services. Businesses that purchase goods and services that are consumed, used or supplied in the course of their "commercial activities" can claim "input tax credits" subject to prescribed documentation requirements (i.e., when they remit to the Canada Revenue Agency the GST they have collected in any given period of time, they are allowed to deduct the amount of GST they paid during that period). This avoids "cascading" (i.e., the application of the GST on the same good or service several times as it passes from business to business on its way to the final consumer). In this way, the tax is essentially borne by the final consumer. This system is not completely effective, as shown by criminals who defrauded the system by claiming GST input credits for non-existent sales by a fictional company.[3]Exported goods are exempt ("zero-rated"), while individuals with low incomes can receive a GST rebate calculated in conjunction with their income tax.

In 1997, the provinces of Nova Scotia, New Brunswick and Newfoundland (nowNewfoundland and Labrador) and the Government of Canada merged their respective sales taxes into the harmonized sales tax (HST). In New Brunswick, and Newfoundland and Labrador, the current HST rate is 13%, while in Nova Scotia it was raised from 13% to 15%, effective July 1, 2010. HST is administered by the Canada Revenue Agency, with revenues divided among participating governments according to a formula. Ontario and British Columbia both harmonized the GST with their provincial sales tax (PST) effective July 1, 2010. However, the British Columbia HST was defeated in an August 2011 mail-in referendum by a 55% majority vote,[4] and was converted to the old GST/PST system effective April 1, 2013. On the same day,Prince Edward Island enacted HST at the rate of 14%.[5] In Ontario, the HST totals 13%, however many of the pre-HST exemptions remain affecting only the provincial portion of the HST (for example, prepared food under $4.00 is not subject to the provincial portion of HST and is only taxed at 5%). On the other hand, some items that were only subjected to the PST are now charged the full HST (i.e., 13%). Although the Government of Ontario has made efforts to provide documentation as to what items are affected and how, this causes some confusion for consumers as they are often not sure what taxes to expect at the checkout. To accommodate these exemptions, many retailers simply display each tax individually as HST 1 and HST 2 (or some variant). The move to HST came about as part of Ontario's 2009 provincial budget.[6]Only three provinces (British Columbia,Manitoba, and Saskatchewan) continue to impose a separate sales tax at the retail level only. Alberta is the exception, not imposing a provincial sales tax.

The three territories of Canada (Yukon,Northwest Territories and Nunavut) do not have territorial sales taxes. The government of Quebec administers both the federal GST and the provincial Quebec Sales Tax (QST). It is the only province to administer the federal tax.

Untaxed itemsEdit

The tax is a 5% tax imposed on the supply of goods and services that are purchased in Canada, except certain items that are either "exempt" or "zero-rated":

For tax-free — i.e., "zero-rated" — sales, GST is charged by suppliers at a rate of 0% so effectively there is no GST collected. However, when a supplier makes a zero-rated supply, it is eligible to recover any GST paid on purchases used in producing the particular supply or service. This effectively removes the cascading tax from these particular goods and services.Common zero-rated items include basic groceries, prescription drugs, inward/outbound transportation and medical devices (GST/HST Memoranda Series ME-04-02-9801-E 4.2 Medical and Assistive Devices). Certain exports of goods and services are also zero-rated.For tax-exempt supplies, the supply is not subject to GST and suppliers do not charge tax on their exempt supplies. Furthermore, suppliers that make exempt supplies are not entitled to recover GST paid on inputs acquired for the purposes of making the exempt good or service. Tax-exempt items include long term residential rents, health and dental care, educational services, day-care services, music lessons, legal aid services, and financial services.
[25/09 7:00 am] Col Lamba: GST Canada is abnormally low
Why High GST is being levied in India
Shows poor governance

Col lamba
(One man army )
.....

Goods and services tax (Canada)

The goods and services tax[1][2] (GST) (French: taxe sur les produits et services, TPS) is a multi-level value added tax introduced inCanada on January 1, 1991, by then-Prime Minister Brian Mulroney and his finance minister Michael Wilson. The GST replaced a hidden 13.5% manufacturers' sales tax (MST); Mulroney claimed the GST was implemented because the MST was hindering the manufacturing sector's ability to exportcompetitively. The introduction of the GST was very controversial. The GST rate is 5%, effective January 1, 2008.

The goods and services tax is defined in law at Part IX of the Excise Tax Act. GST is levied on supplies of goods or services purchased in Canada and includes most products, except certain politically sensitive essentials such as groceries, residential rent, and medical services, and services such as financial services. Businesses that purchase goods and services that are consumed, used or supplied in the course of their "commercial activities" can claim "input tax credits" subject to prescribed documentation requirements (i.e., when they remit to the Canada Revenue Agency the GST they have collected in any given period of time, they are allowed to deduct the amount of GST they paid during that period). This avoids "cascading" (i.e., the application of the GST on the same good or service several times as it passes from business to business on its way to the final consumer). In this way, the tax is essentially borne by the final consumer. This system is not completely effective, as shown by criminals who defrauded the system by claiming GST input credits for non-existent sales by a fictional company.[3]Exported goods are exempt ("zero-rated"), while individuals with low incomes can receive a GST rebate calculated in conjunction with their income tax.

In 1997, the provinces of Nova Scotia, New Brunswick and Newfoundland (nowNewfoundland and Labrador) and the Government of Canada merged their respective sales taxes into the harmonized sales tax (HST). In New Brunswick, and Newfoundland and Labrador, the current HST rate is 13%, while in Nova Scotia it was raised from 13% to 15%, effective July 1, 2010. HST is administered by the Canada Revenue Agency, with revenues divided among participating governments according to a formula. Ontario and British Columbia both harmonized the GST with their provincial sales tax (PST) effective July 1, 2010. However, the British Columbia HST was defeated in an August 2011 mail-in referendum by a 55% majority vote,[4] and was converted to the old GST/PST system effective April 1, 2013. On the same day,Prince Edward Island enacted HST at the rate of 14%.[5] In Ontario, the HST totals 13%, however many of the pre-HST exemptions remain affecting only the provincial portion of the HST (for example, prepared food under $4.00 is not subject to the provincial portion of HST and is only taxed at 5%). On the other hand, some items that were only subjected to the PST are now charged the full HST (i.e., 13%). Although the Government of Ontario has made efforts to provide documentation as to what items are affected and how, this causes some confusion for consumers as they are often not sure what taxes to expect at the checkout. To accommodate these exemptions, many retailers simply display each tax individually as HST 1 and HST 2 (or some variant). The move to HST came about as part of Ontario's 2009 provincial budget.[6]Only three provinces (British Columbia,Manitoba, and Saskatchewan) continue to impose a separate sales tax at the retail level only. Alberta is the exception, not imposing a provincial sales tax.

The three territories of Canada (Yukon,Northwest Territories and Nunavut) do not have territorial sales taxes. The government of Quebec administers both the federal GST and the provincial Quebec Sales Tax (QST). It is the only province to administer the federal tax.

Untaxed itemsEdit

The tax is a 5% tax imposed on the supply of goods and services that are purchased in Canada, except certain items that are either "exempt" or "zero-rated":

For tax-free — i.e., "zero-rated" — sales, GST is charged by suppliers at a rate of 0% so effectively there is no GST collected. However, when a supplier makes a zero-rated supply, it is eligible to recover any GST paid on purchases used in producing the particular supply or service. This effectively removes the cascading tax from these particular goods and services.Common zero-rated items include basic groceries, prescription drugs, inward/outbound transportation and medical devices (GST/HST Memoranda Series ME-04-02-9801-E 4.2 Medical and Assistive Devices). Certain exports of goods and services are also zero-rated.For tax-exempt supplies, the supply is not subject to GST and suppliers do not charge tax on their exempt supplies. Furthermore, suppliers that make exempt supplies are not entitled to recover GST paid on inputs acquired for the purposes of making the exempt good or service. Tax-exempt items include long term residential rents, health and dental care, educational services, day-care services, music lessons, legal aid services, and financial services.
[25/09 7:32 am] Col Lamba: GST
Poor governance by babus

GST bill has been passed but draft is not ready.
We have various taxes . The taxing is 3 layered.
Centre + States + Local bodies like Municipality.

The Aim of GST is to have uniform tax PAN india & reduction in taxation

The tax rate was 12% on takeover time of NDA in 2014 . With frequent Cess the tax slab has reached 18%,
The economist & ministry is hoping it will settle at 22%

Major flaws in GST
1) Local bodies taxation is out of preview
2)100 item are not being included in GST
3) Major items are Alcohol + Fuel + power
4) Can GST be same in PAN India.

My answer is BIG No.

Because

Services will be effected as power is out if GST so it can play Havoc with services as each one needs electricity
Fuel will effect manufacturing & transportation of goods
Alcohol will effect medicines & hospitality + tourism
5) Thus there will be direct & indirect GST
Which will be minimum 25% may even touch 30%
6) Is government justified  to levy such heavy taxation
And
Over & Above government does not provide Social Security to its citizens.
7) GST should be lowest as No Social Security
@5-6%

Poor governing babu's should be packed

Col lamba
(One man army)
    ........

GST Bill: What tax rates do other countries charge

Information and Technology Minister Ravi Shankar Prasad offering sweet to Finance Minister Arun Jaitley after the GST bill was passed by the Rajya Sabha, at Parliament House in New Delhi on Wednesday evening. Photo: PTI

Updated: Fri, Aug 05, 2016
09:56 am

The Goods and Service Tax (GST) Consitutional Amendment was finally passed after 16 years as the Rajya Sabha voted in favour of it on Wednesday. The bill was unanimously passed by the members of the house.

It is one of the most widely accepted indirect tax system in more than 150 countries. Edelweiss, in a research note dated December 7, 2015 said, "Globally, GST has been structured as a destination-based comprehensive tax levied at a specified rate on sale and consumption of goods and services within a country. It facilitates creation of a national tax standard with consumers paying uniform rates of GST, thereby enabling flow of seamless credit across the supply chain."

It further said, "The net effect is that the seller or service provider charges GST but does not retain it, and pays GST but receives a credit for it, making him a pseudo collecting agent for the government. On most goods and services, the tax rate is uniform, but depending on the circumstances in a country, certain goods and services can be declared ‘exempted’ or charged at a lower rate."

This will essentially pave way for the government to set up a GST committee to be set up which will determine the rate of taxation. The GST rate will come into place after the Centre and the States agree upon it, said Finance Minister Arun Jaitley to the media today after the passage of the bill.

Some of the other countries include Australia, Austria, Canada, Czech Republic, Jordan, Montenegro, Morocco, New Zealand, Singapore, among others.