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What do you mean by GST?

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What do you mean by GST?

Posted by Agam Saroh 4 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Yogita Ingle 4 years, 6 months ago

Goods and Services Tax (GST) is a federal tax. GST is an indirect tax, imposed on the sale of goods and services. It is implemented throughout the country since July 1, 2017. There will be no distinction between goods and services for the purpose of taxation. GST will be a destination-based tax. This implies that all State GST collected will ordinarily accrue to the State where the consumer of the goods or services sold resides.

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