Question

give a brief description on gst

Answer 1

Goods and Services Tax (GST) is the full form of GST.

The GST is paid by consumers but is provided to the government by selling things or goods. GST is a tax basically based on Destination principle for India. It is collected on basically services for valued goods.

Answer 2

In short, GST means Goods and Service Tax eliminating many indirect taxes like VAT, Central Excise duty, Sales Tax, Service Tax etc. etc. It is described as one tax for one nation. GST is classified under three categories; CGST which means Central Goods and Service Tax, IGST which means Integrated (Interstate) Goods and Service Tax and SGST, State Goods and Service Tax.