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Explain goods and services tax. Also discuss it's main features.

Posted by Natasha Mishra 3 years, 11 months ago

CBSE > Class 11 > Business Studies

1 answers

Meghna Thapar 3 years, 11 months ago

GST stands for "Goods and Services Tax", and is proposed to be a comprehensive indirect tax levy on the manufacture, sale and consumption of goods as well as services at the national level. It will replace all indirect taxes levied on goods and services by the Indian Central and State governments. The Goods and Services Tax, or GST is a major indirect tax reform introduced in India by integrating the major indirect taxes of the centre and states. It is a comprehensive tax levied on the manufacture, sale, and consumption of goods and services. The GST is a destination based consumption tax made on value addition.

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