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The GST, which is administered by Canada Revenue Agency (CRA), replaced a previous hidden 13.5% manufacturers' sales tax (MST). Introduced at an original rate of 7%, the GST rate has been lowered twice and currently sits at rate of 5%, since January 1, 2008. The GST raised 11.7% of total federal government revenue in 2017–2018. [2]
GST + QST: 9.975 [11] 14.975 [12] Books are taxed at 5.0% (considered essential goods for QST but not for GST). There is an additional tax on tourist lodgings such as hotels which is usually 3.5%. This tax does not apply in Nunavik. [13] [14] Saskatchewan: GST + PST 6: 11 The 6% rate is effective for goods and services effective March 23, 2017 ...
Pre-GST, the statutory tax rate for most goods was about 26.5%; post-GST, most goods are expected to be in the 18% tax range. The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment to the Constitution of India by the Government of India. 1 July is celebrated as GST Day. [4]
It oversees the administration of indirect taxes, including customs duties, excise duties, and the Goods and Services Tax (GST). CBIC's function also extends to prevention of smuggling, illicit financial activities , and regulation and control of narcotics through its attached/subordinate offices.
Goods and Services Tax, the name for the value-added tax in several jurisdictions: Goods and services tax (Australia) Goods and Services Tax (Canada) Goods and Services Tax (Hong Kong) Goods and Services Tax (India) Goods and Services Tax (India) Bill; Goods and Services Tax (India) Revenue Statistics; Goods and Services Tax (Malaysia)
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In 1996, three of the four Atlantic provinces—New Brunswick, Newfoundland and Labrador, and Nova Scotia—entered into an agreement with the Government of Canada to implement what was initially termed the "blended sales tax" (renamed to "harmonized sales tax") which would combine the 7% federal GST with the provincial sales taxes of those provinces; as part of this project, the PST portion ...
Revenue intelligence: On the indirect tax side, Directorate of Revenue Intelligence, i.e., DRI (for custom duty evasion, smuggling etc.) and Directorate General of GST Intelligence, i.e., DGGI (for GST evasion) are the agencies which are responsible for the collection of intelligence regarding evasion and smuggling of indirect taxes and also ...