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GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017.
The Goods and Services Tax (GST) is an indirect tax —taxation is levied on the supply of goods and services and is ultimately paid by the consumer. The Government of India introduced the...
The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
GST is a comprehensive indirect tax charged on the supply of goods and services in India. It has replaced many previous taxes, such as excise, VAT, and service tax. This article will explain all about GST, its components, rate structure, registration process, what are GST rules and more.
The goods and services tax (GST) is a value-added tax (VAT) levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by ...
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Goods and Services Tax (GST) is a comprehensive indirect tax on the manufacture, sale, and consumption of goods and services throughout India. GST would replace respective taxes levied by the central and state governments.
What is GST? GST is a consolidated tax based on a uniform tax rate fixed for both goods and services across India, and is payable at the final point of consumption. At each stage of sale or purchase in the supply chain, the tax is collected on value-added goods and services, through a tax credit mechanism (or input credit mechanism).
GST is a value-added tax levied on goods and services that are sold for domestic consumption. Get to know its meaning, history, types, components and more on Groww.
Goods and Services Tax (GST) represents a significant reform in India’s tax landscape. It is an all-encompassing indirect tax regime introduced to streamline and unify the complex taxation system prevailing before its implementation.