Question

III.WRITING (10x2 = 20 marks)
E. Read the following passage, make notes and summarise the information in
two or three paragraphs. (10 marks)
Goods and Services Tax, India GST for short is a tax based on the consumption of
goods or services across India GST is an indirect lax that has replaced previous
indirect taxes. Direct taxes such as income tax, corporate tax ctc. are not affected
by GST. The Goods and Services Tax (GST) was proposed in 1999 under the
goverment of the then Prime Minister of India. Atal Bihar Majpayee Also, a
committee was set up by Prime Minister Vajpayee to prepare the GST model by
the then Finance Minister of West Bengal Ascem Dasgupta. Since then, the GDA
could nou be implemented, most recently on 1 July 2017 The NDA (National
Democratic Alliance) goverment formed the government led by the BIP
(Bharatiya Janata Party). The cascading lan cllect can be described as tax on tax
would eliminate this previous cascading clleet of the tax In the NAT structure, il
was mandatory to pay VAT to do other business with a turnover or more than
500000, although this limit has been increased to 2000000 with new Goods and
Services Tax which is beneficial for many small traders to gives an option to
reduce tan by using tax structure schemele tax and compliance burden on Nnvall
businesses have been reduced under Goods and Services Tax The entire process of
Goods and Services Tax system has been made online so that it is easy for the user
and does not ge entangled in external useless rounds Before this new tax,
considerable industries were largely unregulated and unorganized. There has been
raunstendustries under the Goods and Services Tax, For ehficient use or new
bilo istvy are safware purchases and staff training leads to increased costs
Sam and medium enterprises have to understand the specifics of the Goods and
alors​

Answer 1

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