GST
GST:-Goods & Services Tax GST is a digitalized form of VAT where you can also track goods & services Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is a single domestic indirect tax law for the entire country. The Goods and Service Tax Act was passed in the Indian Parliament on March 29 th , 2017, which subsequently came into effect on July 1 st , 2017. It was hailed as a significant tax reform for the country, replacing the pre-existing array of indirect taxes, such as excise duty, VAT, service tax, etc. Objective of GST The elimination of multiple tax systems. Increase in compliance with businesses. To reduce the prices. Boost the country’s complete revenue. For higher efficiency and productivity. There are Four GST types Integrated Goods and Services Tax ...