Question

Define GST in accounts.​

Answer 1

GST stands for goods and services tax.

»The main motive of GST is to reduce the cascading effect of tax on the cost of goods and services and create a common, cooperative and undivided Indian market to make economy stronger and powerful. So the GST system will combine Central excise duty, additional excise duty, service tax, State VAT entertainment tax etc.

Answer 2

Gst stand for good and services tax