The  Government of India passed four sets of GST Acts in the budget session of 2017. These were the Central GST Act, 2017; the State GST Act, 2017; the Integrated GST Act, 2017 and the Union Territory GST Act, 2017. These Acts were introduced as a part of the Money Bill and were approved by the Parliament. This article will help you have a basic understanding of GST, its benefits and its effects on your day to day life.

What is GST?

GST has been one of the biggest tax reforms in India. It is one Indirect Tax that is levied on the supply of goods and services in the country. It is a single indirect tax for the whole country that has entailed other taxes like Central Excise, Service Tax Law, VAT, Entry Tax, Octroi and more.

It is aimed towards bringing together state economies of the whole country and improve the overall economic outlook of the country.

This indirect tax has been levied on manufacture, sale and consumption of goods and services at the national level. It has replaced all indirect taxes on goods and services by Central and State governments. This new tax regime has made it mandatory for every business person in India to obtain a GST Identification Number in every state they are registered. Besides having access to a knowledge base for GST, it is important to have a good GST calculator in India.

There are about 160 countries in the world that have GST in their taxation system. It has been implemented in India from July 1, 2017. It works on dual GST model in which both Centre and States levy tax on Goods and Services. Here are the formats of GST in India:

SGST – State GST

Under this GST format, the tax is collected by the State Government.

CGST – Central GST

Under this format, the tax is collected by the Central Government.

IGST – Integrated GST

Under this format, the tax is collected by the Central Government.

UTGST – Union territory GST

Under this format, the tax is collected by the Central  Government.

Introduction of GST in India

The implementation of GST in India is considered a significant step in the reform of indirect taxation in India. Integration of various Central and State taxes has diminished various issues like double taxation, cascading effects of taxes, classification of taxes, the multiplicity of taxes and a lot more. This has eventually paved the way for the formation of a common national market.

In the previous taxation system, VAT rates and regulations differed from state to state. With the coming of GST, these taxes have been merged into one uniform tax system across all Indian states. The taxes obtained here is shared between the Central and the State government. To make GST calculation simple and easy, you can use the “GST calculator in India”.

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Mutual funds are one of the simplest and most widely used investment schemes today. The simple investment process makes it one of the best investment source. When planning for an investment in Mutual Funds, you might want to know the exact value of the invested capital. This is where tools like SIP investment calculator comes to your help.

The SIP or Systematic Investment Plan offers you the convenience of investing in the best investment strategy. It lets you invest small amounts on a regular basis over a period of time. This calculator helps in calculating the value of investments after a certain period of time. It helps you in taking a decision that can bring you the desired profits. This calculator provides various other benefits and here are some of them:

1. It computes the exact amount of investment:

It helps in estimating the worth that will be generated at the time of maturity of an SIP mutual fund investment. The accuracy of this calculation can be easily approved since it passes through all important parameters for determining this value. The calculator is designed after examining parameters like Net Present Value, Internal Rate of Return and Inflation Rate. This makes it possible to generate the accurate values of the invested amount.

2. It determines the monthly payable amount:

Deciding the amount to be invested to get the desired returns can be sometimes really difficult. Using this calculator you can easily figure out the exact sum of money that you need to put in to meet your financial goals.

3. Ease of use:

This tool is very helpful for investors who do not have proper knowledge of finance-related terminologies. It can help them to make their financial plannings. The user-friendly interface of the tool makes it usable even for a layman. Filling up the required fields like monthly amount payable, tenure of investment and expected rate of return immediately generates the estimated worth of invested amount.

4. It is suitable for any type of investment:

This calculator can be used for online as well as offline mutual fund investments. This can help the investor in taking a decision according to his/her evaluation and strategy.

5. It speeds up the planning process:

Using this calculator you can calculate the definite results of investment. This makes the planning process more effective. You won’t have to spend your time on research and analysis. You can very easily calculate your returns and make comparisons before taking your decision.

Takeaway

The SIP investment calculator can really guide you in taking the correct decision for your SIP investment and help you in the process of investment planning for your future. The benefits from SIP investments are immense and the calculator just makes it easier to measure them. Using this calculator you can create an effective plan for your future investments that can help you achieve all your financial goals.

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