Essay on gst bill in 200-250words
Answers
.................India is marching towards the progress with the lightning speed. After the demonetization, the GST bill is one the biggest tax reforms in India since the independence. The GST bill is supposed to boost up the Indian economy is coming years. According to the GST bill, all the complex and multiple indirect taxes were replaced by one ultimate tax which is GST. GST created a buzz in the Indian economic market for sure and news media covering it to the fullest, we can see that GST going to be one of the top topics for speech, essay competitions for commerce stream students, UPSC, SBI PO type of higher exams can also you can expect essays on this topic. I think you should expect Impact, Risk, Effects, History, Evolution of Demonetization and GST topic in the exam and competitions too. I hope following information will help you in that.
In this article, we have tried to give you the information on different aspects of GST but in the easy and simple English language. We have written this mainly for school and junior college level students. You can use this information or overall idea from the content to write your own essay or speech or even for the Group Discussion (GD) on GST. This content can even be used for your SSC, UPSC, SBI PO, IAS essay exam preparation too if the quality of content serves the purpose.
............................................thankyou...............................GST is value-added, consumption tax levied for goods consumed and services used by the consumer. In short, GST is a multi-staged yet single, indirect tax that is comprehensive and taxed at each value addition.
To legalize GST, the GST Bill was passed on July 1, 2017, at the Indian Parliament. GST amalgamates various indirect taxes under common slabs, removes cascading tax, regulates the unorganized sector, increases and regulates e-commerce, online payments that benefits small scale businesses also. The three taxes under the GST are CGST, SGST and IGST. The tax slabs of GST are 0%, 5%, 12%, 18% and 28%.