Explain goods and services tax. Also discuss it\’s main features.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
GST\xa0stands for “Goods and Services Tax”, and is proposed to be a comprehensive indirect\xa0tax\xa0levy on the manufacture, sale and consumption of\xa0goods\xa0as well as\xa0services\xa0at the national level. It will replace all indirect\xa0taxes\xa0levied on\xa0goods and services\xa0by the Indian Central and State governments.\xa0The\xa0Goods and Services Tax, or\xa0GST\xa0is a major indirect\xa0tax\xa0reform introduced in India by integrating the major indirect\xa0taxes\xa0of the centre and states.\xa0It\xa0is a comprehensive\xa0tax\xa0levied on the manufacture, sale, and consumption of\xa0goods and services. The\xa0GST\xa0is a destination based consumption\xa0tax\xa0made on value addition.