Question

Define GST ? And list its three features .

Answer 1

HELLO FRIEND HERE IS UR ANSWER

GST STANDS FOR ;- Goods and Service Tax.

In India, there are three types of GST: CGST , SGST, IGST

The GST is paid by consumers, but it is remitted to the government by the buissness
selling the goods and services. In effect, GST provides revenue for the government.

Answer 2

HEY MATE!
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YOUR ANSWER.....

GST stands for Goods and Service Tax.

GST is a comprehensive value added tax on goods and services.

GST is an indirect tax for India which will make India a unified market.

Centre and State, both levies tax on every transaction related to supply of goods and services except petroleum products, alcohol custom duty, etc.

In India, there are three types of GST:

1. CGST: Central Goods and Service Tax.
2. SGST: State Goods and Service Tax.
3. IGST: Integrated Goods and Service Tax.

Three features of GST are:
1.It is a comprehensive indirect tax.
2. It is a value added tax.
3. GST paid is not cost, it is an asset.
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