{"id":3705,"date":"2020-03-01T11:57:44","date_gmt":"2020-03-01T11:57:44","guid":{"rendered":"https:\/\/commerceiets.com\/?p=3705"},"modified":"2020-03-01T11:57:44","modified_gmt":"2020-03-01T11:57:44","slug":"goods-and-service-tax-in-india-notes","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/goods-and-service-tax-in-india-notes\/","title":{"rendered":"GST"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"318\" height=\"159\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/images-9.png\" alt=\"GOODS AND SERVICE TAX IN INDIA\" class=\"wp-image-5194\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/images-9.png 318w, https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/images-9-300x150.png 300w\" sizes=\"auto, (max-width: 318px) 100vw, 318px\" \/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/goods-and-service-tax-in-india-notes\/#GOODS_AND_SERVICE_TAX_IN_INDIA_GST\" title=\"GOODS AND SERVICE TAX IN INDIA (GST)\">GOODS AND SERVICE TAX IN INDIA (GST)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/goods-and-service-tax-in-india-notes\/#HISTORY_OF_GOODS_AND_SERVICE_TAX_IN_INDIA\" title=\"HISTORY OF GOODS AND SERVICE TAX IN INDIA\">HISTORY OF GOODS AND SERVICE TAX IN INDIA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/goods-and-service-tax-in-india-notes\/#FEATURES_OF_GOODS_AND_SERVICE_TAX_IN_INDIA\" title=\"FEATURES OF GOODS AND SERVICE TAX IN INDIA\">FEATURES OF GOODS AND SERVICE TAX IN INDIA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/commerceiets.com\/goods-and-service-tax-in-india-notes\/#ADVANTAGES_OF_GOODS_AND_SERVICE_TAX_IN_INDIA\" title=\"ADVANTAGES OF GOODS AND SERVICE TAX IN INDIA\">ADVANTAGES OF GOODS AND SERVICE TAX IN INDIA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/commerceiets.com\/goods-and-service-tax-in-india-notes\/#DISADVANTAGES_OF_GOODS_AND_SERVICE_TAX_IN_INDIA\" title=\"DISADVANTAGES OF GOODS AND SERVICE TAX IN INDIA\">DISADVANTAGES OF GOODS AND SERVICE TAX IN INDIA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/commerceiets.com\/goods-and-service-tax-in-india-notes\/#CONCLUSION\" title=\"CONCLUSION\">CONCLUSION<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"goods-and-service-tax-in-india-gst\"><span class=\"ez-toc-section\" id=\"GOODS_AND_SERVICE_TAX_IN_INDIA_GST\"><\/span>GOODS AND SERVICE TAX IN INDIA (GST)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/images-19-1.jpg\" alt=\"GOODS AND SERVICE TAX IN INDIA\" class=\"wp-image-5190\"\/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<p>Goods and Service Tax is a comprehensive tax\u00a0<strong>levy on manufacture, sale and consumption of goods and service<\/strong>\u00a0at a national level under which no distinction is made between goods and services for levying of tax. It will mostly\u00a0<strong>substitute all\u00a0indirect taxes<\/strong>\u00a0levied on goods and services by the Central and State governments in India.<\/p>\n\n\n\n<p>Goods and Service Tax is a tax on goods and services under which every person is liable to pay tax on his output and is entitled to get input tax credit (ITC) on the tax paid on its inputs(therefore\u00a0<strong>a tax on value addition only)<\/strong>\u00a0and ultimately the final consumer shall bear the tax.<\/p>\n\n\n\n<p>In simple words,&nbsp;Goods and Service Tax&nbsp;(GST) is\nan indirect tax levied on the supply of goods and services.&nbsp;This law has\nreplaced many indirect tax laws that previously existed in India.<\/p>\n\n\n\n<p>Goods and Service Tax is&nbsp;<strong>one indirect tax<\/strong>&nbsp;for the&nbsp;<strong>entire country<\/strong>.<\/p>\n\n\n\n<p>\u201cGoods and Service Tax\u00a0is a\u00a0comprehensive,\u00a0<strong>multi-stage<\/strong>,\u00a0<strong>destination-based tax<\/strong>\u00a0that is levied on every\u00a0<strong>value addition<\/strong>.\u201d<\/p>\n\n\n\n<p>There are around 160 countries in the world that have GST in place. It is a destination based taxed where the tax is collected by the State where goods are consumed. India has implemented the GST from July 1, 2017 and it has adopted the Dual GST model in which both States and Central levies tax on Goods or Services or both.<\/p>\n\n\n\n<p>SGST \u2013 State Goods and Service Tax, collected by the State Govt.<\/p>\n\n\n\n<p>CGST \u2013 Central Goods and Service Tax, collected by the Central Govt.<\/p>\n\n\n\n<p>IGST \u2013 Integrated Goods and Service Tax, collected by the Central Govt.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"history-of-goods-and-service-tax-in-india\"><span class=\"ez-toc-section\" id=\"HISTORY_OF_GOODS_AND_SERVICE_TAX_IN_INDIA\"><\/span><strong>HISTORY OF GOODS AND SERVICE TAX IN INDIA<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/images-18.jpg\" alt=\"GOODS AND SERVICE TAX IN INDIA\" class=\"wp-image-5191\"\/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<p>The following is the brief history of Goods and service tax in India:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>2000<\/strong>: In India, the idea of adopting Goods and Service Tax was first suggested by the Late Prime minister Atal Bihari Vajpayee Government in 2000. The state finance ministers formed an Empowered Committee (EC) to create a structure for GST, based on their experience in designing State VAT. Representatives from the Centre and states were requested to examine various aspects of the Goods and Service Tax proposal and create reports on the thresholds, exemptions, taxation of inter-state supplies, and taxation of services. The committee was headed by Asim Dasgupta, the finance minister of West Bengal. Dasgupta chaired the committee till 2011.<\/li><li><strong>2004<\/strong>: A task force that was headed by Vijay L. Kelkar the advisor to the finance ministry, indicated that the existing tax structure had many issues that would be mitigated by the Goods and Service Tax system.<\/li><li><strong>February 2005<\/strong>: The finance minister, P. Chidambaram, said that the medium-to-long term goal of the government was to implement a uniform Goods and Service Tax structure across the country, covering the whole production-distribution chain. This was discussed in the budget session for the financial year 2005-06.<\/li><li><strong>February 2006:<\/strong>\u00a0The finance minister set 1 April 2010 as the Goods and Service Tax introduction date.<\/li><li><strong>November 2006<\/strong>: Parthasarthy Shome, the advisor to P. Chidambaram, mentioned that states will have to prepare and make reforms for the upcoming Goods and Service Tax regime.<\/li><li><strong>February 2007<\/strong>: The 1 April 2010 deadline for Goods and Service Tax implementation was retained in the union budget for 2007-08.<\/li><li><strong>February 2008<\/strong>: At the union budget session for 2008-09, the finance minister confirmed that considerable progress was being made in the preparation of the roadmap for Goods and Service Tax. The targeted timeline for the implementation was confirmed to be 1 April 2010.<\/li><li><strong>July 2009<\/strong>: Pranab Mukherjee, the new finance minister of India, announced the basic skeleton of the GST system. The 1 April 2010 deadline was being followed then as well.<\/li><li><strong>November 2009<\/strong>: The EC that was headed by Asim Dasgupta put forth the First Discussion Paper (FDP) , describing the proposed Goods and Service Tax regime. The paper was expected to start a debate that would generate further inputs from stakeholders.<\/li><li><strong>February 2010<\/strong>: The government introduced the mission-mode project that laid the foundation for GST. This project, with a budgetary outlay of Rs.1,133 crore, computerised commercial taxes in states. Following this, the implementation of GST was pushed by one year.<\/li><li><strong>March 2011<\/strong>: The government led by the Congress party puts forth the Constitution (115th Amendment) Bill for the introduction of Goods and Service Tax. Following protest by the opposition party, the Bill was sent to a standing committee for a detailed examination.<\/li><li><strong>June 2012<\/strong>: The standing committee starts discussion on the Bill. Opposition parties raise concerns over the 279B clause that offers additional powers to the Centre over the Goods and Service Tax dispute authority.<\/li><li><strong>November 2012<\/strong>: P. Chidambaram and the finance ministers of states hold meetings and set the deadline for resolution of issues as 31 December 2012.<\/li><li><strong>February 2013<\/strong>: The finance minister, during the budget session, announces that the government will provide Rs.9,000 crore as compensation to states. He also appeals to the state finance ministers to work in association with the government for the implementation of the indirect tax reform.<\/li><li><strong>August 2013<\/strong>: The report created by the standing committee is submitted to the parliament. The panel approves the regulation with few amendments to the provisions for the tax structure and the mechanism of resolution.<\/li><li><strong>October 2013<\/strong>: The state of Gujarat opposes the Bill, as it would have to bear a loss of Rs.14,000 crore per annum, owing to the destination-based taxation rule.<\/li><li><strong>May 2014<\/strong>: The Constitution Amendment Bill lapses. This is the same year that Narendra Modi was voted into power at the Centre.<\/li><li><strong>December 2014<\/strong>: India\u2019s new finance minister, Arun Jaitley, submits the Constitution (122nd Amendment) Bill, 2014 in the parliament. The opposition demanded that the Bill be sent for discussion to the standing committee.<\/li><li><strong>February 2015<\/strong>: Jaitley, in his budget speech, indicated that the government is looking to implement the GST system by 1 April 2016.<\/li><li><strong>May 2015<\/strong>: The Lok Sabha passes the Constitution Amendment Bill. Jaitley also announced that petroleum would be kept out of the ambit of Goods and Service Tax for the time being.<\/li><li><strong>August 2015<\/strong>: The Bill is not passed in the Rajya Sabha. Jaitley mentions that the disruption had no specific cause.<\/li><li><strong>March 2016<\/strong>: Jaitley says that he is in agreement with the Congress\u2019s demand for the Goods and Service Tax rate not to be set above 18%. But he is not inclined to fix the rate at 18%. In the future if the Government, in an unforeseen emergency, is required to raise the tax rate, it would have to take the permission of the parliament. So, a fixed rate of tax is ruled out.<\/li><li><strong>June 2016<\/strong>: The Ministry of Finance releases the draft model law on Goods and Service Tax to the public, expecting suggestions and views.<\/li><li><strong>August 2016<\/strong>: The Congress-led opposition finally agrees to the Government\u2019s proposal on the four broad amendments to the Bill. The Bill was passed in the Rajya Sabha.<\/li><li><strong>September 2016<\/strong>: The Honourable President of India gives his consent for the Constitution Amendment Bill to become an Act.<\/li><li><strong>2017<\/strong>: Four Bills related to Goods and Service Tax become Act, following approval in the parliament and the President\u2019s assent:<ul><li>Central Goods and Service Tax  Bill<\/li><\/ul><ul><li>Integrated Goods and Service Tax Bill<\/li><\/ul><ul><li>Union Territory Goods and Service Tax Bill<\/li><\/ul><ul><li>Goods and Service Tax (Compensation to States) Bill<\/li><\/ul><\/li><\/ul>\n\n\n\n<p>The GST Council also finalized on the Goods and Service Tax rates and Goods and Service Tax rules. The Government declares that the Goods and Service Tax Bill will be applicable from 1 July 2017, following a short delay that is attributed to legal issues.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"features-of-goods-and-service-tax-in-india\"><span class=\"ez-toc-section\" id=\"FEATURES_OF_GOODS_AND_SERVICE_TAX_IN_INDIA\"><\/span><strong>FEATURES OF GOODS AND SERVICE TAX IN INDIA<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/download-70.jpg\" alt=\"GOODS AND SERVICE TAX IN INDIA\" class=\"wp-image-5192\"\/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<p>\u00a0Goods and Service Tax belongs to the VAT family as tax revenues are collected on the basis of value added. Unlike in the case of a pure commodity based VAT system, Goods and Service Tax includes services tax also. Similarly, input credit is given while calculating the tax burden. Following are the main features of the Goods and service tax  as per the final agreement.<\/p>\n\n\n\n<p><strong>TAXES COVERED<\/strong><\/p>\n\n\n\n<p>Most of the important indirect taxes of the centre and states are integrated under the  Goods and service tax . The most important tax of the central government (in terms of tax revenue collection) -the Central Value Added Tax (or Union Excise Duty), Additional Customs Duty (CVD), Special Additional Duty of Customs (SAD), Central Sales Tax (levied by the Centre and collected by the States, the fastest growing tax revenue of the centre \u2013 Service Tax, the most important tax revenue of the states \u2013 the state VAT (Sales tax) are now merged into a single tax under the Goods and Service Tax.<\/p>\n\n\n\n<p>&nbsp;There are three important indirect taxes for the centre \u2013 the union excise duties, service tax and customs duties. Of these, the central excise duties and service taxes are brought under the  Goods and service tax . Customs duties as a tax on trade was not merged with the  Goods and service tax .<\/p>\n\n\n\n<p>States have two important indirect taxes \u2013 sales tax and state excise duties. Of these two, only the sales tax is merged with the Goods and Service Tax.<\/p>\n\n\n\n<p>Along with these four big taxes of the centre and states, several other low revenue incurring taxes are also brought under the Goods and service tax .<\/p>\n\n\n\n<p>A. The following taxes levied and collected by the Centre are merged with the Goods and Service Tax:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Union Excise duties<\/li><li>Services tax<\/li><li>Duties of Excise (Medicinal and Toilet Preparations)<\/li><li>Additional Duties of Excise (Textiles and Textile Products)<\/li><li>Additional Duties of Excise (Goods of Special Importance)<\/li><li>Additional Duties of Customs (commonly known as CVD)<\/li><li>Special Additional Duty of Customs (SAD)<\/li><li>Cesses and surcharges<\/li><\/ul>\n\n\n\n<p>B. State taxes that are subsumed under the  Goods and service tax  are:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>State VAT<\/li><li>Central Sales Tax<\/li><li>Entertainment Tax (not levied by the local bodies)<\/li><li>Entry Tax (other than those in lieu of octroi)<\/li><li>Luxury Tax<\/li><li>Taxes on advertisements<\/li><li>Taxes on lotteries, betting and gambling<\/li><li>State cesses and surcharges insofar as they relate to supply of goods or services.<\/li><\/ul>\n\n\n\n<p><strong>UNIFIED TAX REGIME<\/strong><\/p>\n\n\n\n<p>The Goods and Service Tax integrates into one unified tax regime. Previously, the goods and services were imposed and administered differently.<\/p>\n\n\n\n<p><strong>THE FOUR-TIER RATE STRUCTURE<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/download-60-1-1.jpg\" alt=\"\" class=\"wp-image-5200\" width=\"318\" height=\"158\"\/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<p>The GST proposes a four-tier rate structure. The tax slabs are fixed at 5%, 12%, 18% and 28% besides the 0% tax on essentials. Gold is taxed at 3%. The centre has strictly demanded and got an additional cess on demerit luxury goods that comes under the high 28% tax. Essential commodities like food items are exempted from taxes under Goods and Service Tax. Other consumer goods which are common items will be taxed at 5%.4. The new Goods and Service Tax seems to have two standard rates \u2013 12% and 18%. Goods and Service Tax rate structure for the goods and services are fixed by considering different factors including luxury\/necessity nature.<\/p>\n\n\n\n<p><strong>SERVICE TAX RATE UNDER GOODS AND SERVICE TAX<\/strong><\/p>\n\n\n\n<p>Under the  Goods and service tax , there is a differential tax structure. A low tax rate of 5% is imposed on essential services. Common services are charged at 12% and some commercial services at 18%. A tax rate of 28% on luxury services is also made. Several services like education provided by an educational institution, Post Offices, RBI etc. are exempted from service taxation. The standard  Goods and service tax  rate on services seems to be 18%. Services are taxed at a common rate of 15% previously.<\/p>\n\n\n\n<p><strong>TURNOVER LIMIT<\/strong>&nbsp;<\/p>\n\n\n\n<p>Under Goods and Service Tax and tax right over low turnover entities: Goods and Service Tax is applied when turnover of the business exceeds Rs 20lakhs per year (Limit is Rs 10lakhs for the North-Eastern States). Traders who would like to get input tax credit should make a voluntary registration even if their sales are below Rs 20 lakh per year. Traders supplying goods to other states have to register under  Goods and service tax , even if their sales are less than Rs 20 lakh. There is a composition scheme for selected group of tax payers whose turnover is up to Rs 75 lakhs a year.<\/p>\n\n\n\n<p><strong>TAX REVENUE APPROPRIATION BETWEEN THE CENTRE AND STATES<\/strong><\/p>\n\n\n\n<p>The centre and states will share Goods and Service Tax tax revenues at 50:50 ratio (except the IGST). This means that if a service is taxed at 18%, 9% will go to the centre and 9% will go to the concerned state.<\/p>\n\n\n\n<p><strong>COMPONENTS OF GST: CGST, SGST AND IGST<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/download-54-1-1.png\" alt=\"\" class=\"wp-image-5198\" width=\"310\" height=\"163\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/download-54-1-1.png 310w, https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/download-54-1-1-300x158.png 300w\" sizes=\"auto, (max-width: 310px) 100vw, 310px\" \/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<p>\u00a0When the centre and states are merging their prominent indirect taxes under GST, both should get their own share in the Goods and Service Tax. For this, the Goods and Service Tax Council has adopted a dual Goods and Service Tax with two components \u2013 the Central Goods and Service Tax (CGST) and the State Goods and Service Tax (SGST).<\/p>\n\n\n\n<p>Objective of this division is sharing the revenue from the unified  Goods and service tax  between the centre and states.<\/p>\n\n\n\n<p><strong>Central and State Goods and Service Tax<\/strong><\/p>\n\n\n\n<p>\u00a0There is sharing of  Goods and service tax  by the centre and the tax accruing state at 50:50 ratio. For example, if a good is taxed at 18%, out of this, 9% will go to the centre and the remaining 9% will go to the state where the good is consumed. The GST going to the Centre is called as Central  Goods and service tax  (CGST) and that toes to the States is known as State GST (SGST). Here, the centre and the concerned state will equally share Goods and Service Tax on goods and services.<\/p>\n\n\n\n<p>Basically, Goods and Service Tax is a destination based or consumption tax. Meaning of a destination based tax is that tax revenue (SGST) will go to the consuming state and not to the producing state.<\/p>\n\n\n\n<p>&nbsp;In the\ncase of intrastate production and consumption (production and consumption takes\nplace in the same state), the share of SGST will accrue to the concerned state\nwhere as the share of CGST should be credited to the center\u2019s account.<\/p>\n\n\n\n<p><strong>Integrated Goods and Service Tax (IGST)<\/strong><\/p>\n\n\n\n<p>&nbsp;The IGST comes to play when the commodity is produced in one state and is traded to another state (interstate trade). In this case, the share of SGST should go to the consuming state (as the  Goods and service tax  is a destination based tax). As a consumption based tax i.e the tax SGST share should be received by the state in which the goods or service are consumed and not by the state in which such goods are manufactured.<\/p>\n\n\n\n<p>\u00a0 As per the GST law (Article 269 A), an Integrated Goods and Service Tax (IGST) would be levied and collected by the Centre on inter-State supply of goods and services. This tax will be collected by the Centre to ensure that the supply chain or interstate trade is not disrupted.<\/p>\n\n\n\n<p><strong>COMPOSITION SCHEME UNDER Goods and Service Tax<\/strong><\/p>\n\n\n\n<p>The\ncomposition levy is an alternative method of levy of tax designed for small\ntaxpayers with turnover is up to&nbsp;Rs.&nbsp;75 lakhs. The scheme can be\navailed by manufacturers and restaurants. Other service providers can\u2019t opt for\nthe scheme. It enables taxpayers to make payments at a flat rate under GST,\nwithout input credits. An alternate upper limit of&nbsp;Rs.&nbsp;50 lakhs is\napplicable in a few states \u2013 Assam, Arunachal Pradesh, Manipur, Meghalaya,\nMizoram, Nagaland, Tripura, Sikkim and Himachal Pradesh.<\/p>\n\n\n\n<p>The\nobjective of the optional Composition Scheme is to bring simplicity and to\nreduce the compliance cost for the small taxpayers. Eligible persons opting to\npay tax under this scheme can pay tax at a prescribed percentage of the\nturnover every quarter, instead of paying tax at normal rate. The GST rate\nunder the composition scheme is 1% for manufacturer, 2.5% for restaurant sector\nand 0.5% for other suppliers of turnover. There will not be any input tax\ncredit under the scheme. Instead of filing 3-4 returns monthly, taxpayers\nregistered under this scheme will be required to file returns once every\nquarter.<\/p>\n\n\n\n<p>In the\nservice sector, Composition Scheme is available only for one sector \u2013\nrestaurants. The Composition Scheme is not available for manufacturers of\ntobacco and manufactured tobacco substitutes, pan-masala and ice-cream and\nother edible ice, whether or not containing cocoa.<\/p>\n\n\n\n<p>Exports are\nexempted from GST as in the case of the previous regime. Administrative\ncoordination between the centre and states, improvement of the tax\nadministration machinery, awareness to the tax payers and the launch of the IT\ninterface of GSTN are some of the preparatory efforts made by the government.\nSeveral benefits like creation of a unified tax regime in the country for\nindirect taxes, better centre state coordination and elimination of reducing\ntax on tax or cost cascading effect of tax are the positive outcome of the GST\nregime. Similarly, the system may raise compliance (revealing of taxable\nactivity and paying taxes) among assessees.&nbsp;<\/p>\n\n\n\n<p><strong>RIGHT TO TAX ON TERRITORIAL WATERS<\/strong><\/p>\n\n\n\n<p>Right to\nimpose tax on economic activities that are done on territorial waters: Here,\nthe both centre and states have decided that states can impose and collect tax\non those falls within 12 nautical miles.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"advantages-of-goods-and-service-tax-in-india\"><span class=\"ez-toc-section\" id=\"ADVANTAGES_OF_GOODS_AND_SERVICE_TAX_IN_INDIA\"><\/span>ADVANTAGES OF GOODS AND SERVICE TAX IN INDIA<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/download-68-1.jpg\" alt=\"GOODS AND SERVICE TAX IN INDIA\" class=\"wp-image-5193\"\/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<p>The Goods and Services Tax was introduced with the primary objective of boosting India\u2019s economy. Besides simplifying the indirect taxation system,  Goods and service tax  has helped in clearing away the hidden costs on commodities\/services, thus benefitting the end users. Some major advantages of the GST in India are as follows:<\/p>\n\n\n\n<p><strong>EASIER CLASSIFICATION<\/strong><\/p>\n\n\n\n<p>The GST system has facilitated in\ncreating a transparent system with easier classification of products &amp;\nservices. However, the taxation under GST is based upon the concept of supply\nrather than on this classification. That is, if a transaction does not fall\nunder the realm of supply, it will not be taxable under GST. Moreover, litigation,\narising from cases whether a particular item or activity is goods or service,\nis not likely to occur.<\/p>\n\n\n\n<p><strong>BETTER COMPLIANCES<\/strong><\/p>\n\n\n\n<p>The implementation of the GST\nsystem has paved way for simpler procedures and compliances as well as aided in\neasy monitoring and tracking of defaults or non-compliances. Furthermore, there\nhad been multiple legal compliances under different legislatures. But now,\ntaxpayers have got things easier as legal norms only under one statue need to\nbe adhered to. GST is supported by the Goods and Service Tax Network (GSTN), a\nfully integrated tax platform, to help manage all aspects of GST.<\/p>\n\n\n\n<p><strong>BENEFITS FOR SME&#8217;S AND START-UPS<\/strong><\/p>\n\n\n\n<p>SMEs and start-ups in India have\na host of benefits awaiting them under the GST system which includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Ease\nof starting business by lower compliances. Companies that have business in\ndifferent states &amp; territories were earlier required to comply with\nmultiple laws. However, the centralised registration under GST has eased the\nprocess of setting up new businesses while also reducing the costs.<\/li><li>Minimised\ntax burden on new businesses. Earlier, it was mandatory for companies with\nturnover more than Rs 5 lakhs to register themselves under VAT. However, the\nlimit under GST has now been extended to Rs 20 lakhs. This has provided relief\nto over 60 percent of the SMEs.<\/li><li>Efficient\nlogistics leading to efficiency in delivery &amp; cost savings. The entry tax\nfor goods manufactured and sold in any part of India has been done away with\nunder GST. Thus, it has paved way for smother transportation of goods by\nminimising waiting time on check posts. A direct result of this would be\nsignificant savings on transportation costs.<\/li><li>Uniformity\nin the taxation process. Through a simple online mechanism, small businesses\nfind it extremely easy to file their tax returns every quarter.<\/li><\/ul>\n\n\n\n<p><strong>PRODUCT COMPETITIVENESS <\/strong><\/p>\n\n\n\n<p>Becoming at par with the\ninternational tax standards, the introduction of the GST system has ensured\nreduction in overall costs of production, thereby making Indian products much\nmore competitive in the global market. Furthermore, inflation is likely to\nremain under control under the GST regime.<\/p>\n\n\n\n<p><strong>BENEFIT TO THE GOVERNMENT<\/strong><\/p>\n\n\n\n<p>The GST system has ensured better\nrevenue generation for the government as the cost of tax collection has\nreduced. And, the government is seeing an increase in taxpayer registration.\nAlso, with the systematic rules under GST, malpractices like corruption and\nsales without receipts are kept under check.<\/p>\n\n\n\n<p><strong>MITIGATION OF\nCASCADING EFFECT <\/strong><br \/>\nUnder the GST administration, the final tax would be paid by the consumer for\nthe goods and services purchased. However, there would be an input tax credit\nstructure in place to ensure that there is no slumping of taxes. GST is levied\nonly on the value of the good or service.<\/p>\n\n\n\n<p><strong>ABOLITION OF\nMULTIPLE LAYERS OF TAXATION<\/strong><br \/>\nOne of the advantages of GST is that it integrated different tax lines such as\nCentral Excise, Service Tax, Sales Tax, Luxury Tax, Special Additional Duty of\nCustoms, etc. into one consolidated tax. It prevents multiple tax layers\nimposed on goods and services.<\/p>\n\n\n\n<p><strong>RESOURCEFUL\nADMINISTRATION BY GOVERNMENT<\/strong><br \/>\nPreviously, the management of indirect taxes was a complicated task for the\nGovernment. However, under the GST establishment, the integrated tax rate,\nsimple input of tax credit mechanism and a merged GST Network, where\ninformation is available, and administration of resources are well-organised\nand straightforward for the Government.<\/p>\n\n\n\n<p><strong>ENHANCED\nPRODUCTIVITY OF LOGISTICS<\/strong><\/p>\n\n\n\n<p>The restriction on inter\nstatement movement of goods has reduced. Earlier logistic companies had to\nmaintain multiple warehouses across the country to avoid state entry taxed on\ninterstate movements.<\/p>\n\n\n\n<p><strong>CREATION OF A\nCOMMON NATIONAL MARKET<\/strong><\/p>\n\n\n\n<p>GST gave a boost to India\u2019s tax\nto Gross Domestic Product ratio that aids in promoting economic efficiency and\nsustainable long \u2013 term growth. It led to a uniform tax law among different\nsectors concerning indirect taxes. It facilitates in eliminating economic\ndistortion and forms a common national market.<\/p>\n\n\n\n<p><strong>EASE OF DOING\nBUSINESS<\/strong><\/p>\n\n\n\n<p>With the implementation of GST, the\ndifficulties in indirect tax compliance have been reduced. Earlier companies\nfaced significant problems concerning registration of VAT, excise customs,\ndealing with tax authorities, etc. The benefits of GST has aided companies to\ncarry out their business with ease.<\/p>\n\n\n\n<p><strong>REGULATION OF\nTHE UNORGANIZED SECTOR UNDER GST<\/strong><\/p>\n\n\n\n<p>It has created provisions to bring unregulated and Unorganised sectors such as the textile and construction industries to name a few under regulation with continuous accountability.<\/p>\n\n\n\n<p><strong>REDUCTION OF\nLITIGATION<\/strong><\/p>\n\n\n\n<p>GST aids in reducing litigation\nas it establishes clarity towards the jurisdiction of taxation between the\nCentral and State Governments.GST provides a smooth assessment of tax.<\/p>\n\n\n\n<p><strong>TACKLING\nCORRUPTION AND TAX LEAKAGES<\/strong><\/p>\n\n\n\n<p>With the GST online network\nportal, the taxpayer can directly register, file returns and make payments of\nthe taxes without having to interact with tax authorities. A mechanism has been\ndevised to match the invoices of the supplier and buyer. This will not only\nkeep a check on tax frauds and evasion but also bring in more businesses into\nthe formal economy.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"disadvantages-of-goods-and-service-tax-in-india\"><span class=\"ez-toc-section\" id=\"DISADVANTAGES_OF_GOODS_AND_SERVICE_TAX_IN_INDIA\"><\/span><strong>DISADVANTAGES OF GOODS AND SERVICE TAX IN INDIA<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/images-18-1.jpg\" alt=\"\" class=\"wp-image-5196\"\/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<p>There are various benefits of GST\nin India. However, a tax reform of such magnitude comes with its teething\nproblems.<\/p>\n\n\n\n<p><strong>IT\nINFRASTRUCTURE<\/strong><\/p>\n\n\n\n<p>Since GST is an IT-driven law, it\ncannot be sure whether all the states in India are currently equipped with\ninfrastructure and workforce availability to embrace this law. Only a few\nstates have implemented this E- Governance model. Even today some states use\nthe manual VAT returns system.<\/p>\n\n\n\n<p><strong>HIGHER TAX\nBURDEN OF SME\u2019S<\/strong><\/p>\n\n\n\n<p><strong>E<\/strong>arlier the small and medium enterprises had to pay excise duty only on a turnover that exceeded Rs. 1.5 crore every financial year. However, under the  Goods and service tax  administration, businesses whose turnover exceeds Rs 40 lacs are liable to pay GST.<\/p>\n\n\n\n<p><strong>INCREASE\nBURDEN OF COMPLIANCE<\/strong><\/p>\n\n\n\n<p>The  Goods and service tax  administration states that companies are required to register in all the states they operate in. This increases the burden on the business for excessive paperwork and compliance.<\/p>\n\n\n\n<p><strong>PETROLEUM\nPRODUCTS DON\u2019T FALL UNDER THE GST SLAB<\/strong><\/p>\n\n\n\n<p>Petrol and petroleum products have not been included in the scope of  Goods and service tax until now. States levy their taxes on this sector. Tax credit for inputs will not be available to these industries or those related industries.<\/p>\n\n\n\n<p><strong>COACHING OF\nTAX OFFICERS<\/strong><\/p>\n\n\n\n<p><strong>T<\/strong>here is inadequate training that is provided to the\nGovernment officers for practical usage and implementation of such systems\nsince the GST administration heavily banks on information technology.<\/p>\n\n\n\n<p><strong>INCREASED IMPLEMENTATION COST<\/strong><\/p>\n\n\n\n<p>The overall process of ensuring\nGST compliance and tax filing has led to an increase in the implementation cost\nfor the businesses. This cost refers to the expenditure or investment in\nresources like computers, accounting (GST), software or training initiatives\nfor GST experts. Moreover, the overall cost of doing business mounted in the\ninitial few months of GST implementation.<\/p>\n\n\n\n<p><strong>RISE IN OPERATIONAL COSTS<\/strong><\/p>\n\n\n\n<p>GST has transformed the way in\nwhich taxes are paid. Moreover, to achieve compliances, businesses are required\nto depend on services by professional GST consultants. This has led to an\nadditional cost for smaller businesses for hiring GST consultants leading to\noperational costs.<\/p>\n\n\n\n<p>Implementation of GST has led to\nshortage of available funds. Traders have been facing issues in claiming tax\nrefunds or transitional refund owing to complicated procedures.<\/p>\n\n\n\n<p><strong>ADVERSE IMPACT ON SOME INDUSTRIES<\/strong><\/p>\n\n\n\n<p>Some tax experts believe the GST\nsystem could have negative effects as certain products have become costlier.\nFor instance, GST would add up to as much as 8 percent to the cost of new homes\nand minimise the demand by about 12 percent. Similarly, the tax levied on some\nretail products at present is only four percent tax. However with GST, garments\nand clothes are likely to get expensive.<\/p>\n\n\n\n<p>Similarly, service sector like banks also feel the pinch. The banking industry is instrumental in the process of export of services or goods. Before the GST regime, a service tax @ 14% was levied on the banking transactions. However after the GST implementation, the rate has increased to 18%, thereby increasing the transaction costs, especially in those imports or exports with huge transactions.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"282\" height=\"179\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2022\/01\/images-20.jpg\" alt=\"GOODS AND SERVICE TAX IN INDIA\" class=\"wp-image-5195\"\/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\" id=\"conclusion\"><span class=\"ez-toc-section\" id=\"CONCLUSION\"><\/span>CONCLUSION<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>GST in India was a sweeping reform and benefits of  Goods and service tax  and has changed the way businesses are conducted. Businesses are being included in the formal economy through  Goods and service tax  implementation. GST and its benefits have provided long term returns for the Indian economy on a large scale which have been welcomed as a new change by all the stakeholders.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also Study:<\/strong><\/td><td><strong>Also Study:<\/strong><\/td><td><strong>Also Study:<\/strong><\/td><td><strong>Also Study:<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/features-of-gst\/\">GST and its features<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/history-of-gst\/\">History of GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/advantages-of-gst-in-india\/\">Advantages of GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/disadvantages-of-gst\/\">Disadvantages of GST<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/constitutional-aspect-of-gst\/\">Constitutional aspects of GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/liability-of-tax-payer\/\">Liability of tax payer<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/objectives-of-gst\/\">Objectives of GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/what-is-igst\/\">IGST<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cgst\/\">CGST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/gst-council\/\">GST Council<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/utgst-full-form\/\">UTGST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/sgst\/\">SGST<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/levy-and-collection-of-gst\/\">Levy and collection of GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/composition-levy\/\">Composition Levy<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/online-gst-registration\/\">Online GST Registration<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/exemptions-under-gst\/\">Exemptions under GST<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/reverse-charge-in-gst\/\">Reverse Charge in GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/taxable-supply\/\">Taxable supply<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/time-of-supply\/\">Time of supply<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/value-of-supply\/\">Value of supply<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/place-of-supply\/\">Place of supply<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/inter-state-supply\/\">Inter-state supply<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/intra-state-supply\/\">Intra-state supply<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/what-is-composite-supply\/\">Composite supply<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/mixed-supply\/\">Mixed supply&nbsp;<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/composite-and-mixed-supply\/\">Composite and mixed supply<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/online-payment-of-gst\/\">Online payment of GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/how-to-claim-tcs-in-gst\/\">How to Claim TCS in GST<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/how-to-claim-tds-in-gst\/\">How to claim TDS in GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/input-tax-credit-under-gst\/\">Input tax credit under GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/tax-invoice-under-gst\/\">Tax Invoice<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/debit-note\/\">Debit Note in GST<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/credit-note\/\">Credit Note in GST<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revised-invoice-in-gst\/\">Revised Invoice in GST<\/a><\/td><td><a href=\"http:\/\/v\" target=\"_blank\">Supplementary Invoice<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/e-way-bill-in-gst\/\">E-Way bill in GST<\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/gst-returns\/\">GST Returns<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/goods-and-service-tax-network\/\">GSTN (Goods and Service Tax Network)<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/gst-suvidha-provider\/\">GST Suvidha Provider<\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/gst-portal\/\">GST Portal<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.linkedin.com\/in\/kajal-mahajan-7549b2197\/\" target=\"_blank\" rel=\"noreferrer noopener\">CONNECT ON LINKEDIN<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"152\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/cropped-cropped-Presentation-resize-1.jpg\" alt=\"GOODS AND SERVICE TAX IN INDIA\" class=\"wp-image-4836\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/cropped-cropped-Presentation-resize-1.jpg 512w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/cropped-cropped-Presentation-resize-1-300x89.jpg 300w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><figcaption>GOODS AND SERVICE TAX IN INDIA<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>GOODS AND SERVICE TAX IN INDIA (GST) Goods and Service Tax is a comprehensive tax\u00a0levy on manufacture, sale and consumption of goods and service\u00a0at a national level under which no distinction is made between goods and services for levying of tax. It will mostly\u00a0substitute all\u00a0indirect taxes\u00a0levied on goods and services by the Central and State&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/goods-and-service-tax-in-india-notes\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;GST&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":3706,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[229],"tags":[],"class_list":["post-3705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-goods-and-service-tax"],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/3705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=3705"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/3705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/3706"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=3705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=3705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=3705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}