Describe main features of Goods and Service Tax in India. What measures are taken by the Central Government to tackle the apprehensions of the states with regard to financial losses.
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GST is proposed to be implemented with effect from 1st Aril 2017. Implementation of Goods and Service Tax (GST) in India will be one of the biggest reforms in the field of taxation. GST is an integrated indirect tax which is levied on manufacture, sale or consumption of Goods and Services.
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Answer:Goods and Services Tax (GST) is an indirect tax (or consumption tax) imposed in India on the .... After GST Council approved the Central Goods and Services Tax Bill 2017 (The CGST Bill), the Integrated ... Under the previous system, a state would only have to deal with a single government in order to collect tax revenue.
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