What is gst

Goods and services which has a burden on one person and being paid by other .eg something we order online like the new method i.e. zomato wherewe have to give tax

Gst stands for goods and services tax... It is a type of indirect tax brought to simplify the tax process..... Since indirect tax was taken through different forms like sales tax entertainment tax and various other taxes.... There were actually 28 types or different classes..... But under gst, all taxes are compiled into this single tax system...... It basically classifies tax on commodities in 5 slabs..... Depending on type essentiality and luxury provided by the commodity..... The gst was brought by govt with expectation of getting good retuns from indirect taxes and fortunately gst collection has crossed the mark of 1 lakh crore 5 th time in this economic year..... This tax is meant to simplify tax returns and increasing amounts received from indirect tax by govt.

Good and services tax

Gst stands for Goods and Service Tax. It is applied by the Indian government to reduce various bussiness related crimes such as black marketing.

Goods and services tax