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Answers
HOLA MATE....
GOODS AND SERVICES TAX IS AND INDIRECT TAX IMPOSED IN INDIA ON THE SUPPLY OF GOODS AND SERVICES
THE ACT CAME INTO EFFECT ON 1 JULY 2017
GST full form is good and service tax
it a loop of finance in country .people take money to the bank and then it is taken by the government in different way .we eat drink, ride in everything people of country have to pay tax .this tax is used by the government in different purpose. tax system is developed in
ancient period but in 21 St century sale tax is the most basic .in this system the tax is not complete paid to the government as it is restricted to the goods and comedetes only so new system developed that was vat in this system not only goods but also service charge labour charge etc is direct taken by government but in this system every material have different taxes to make it more easier to the people a new tax system developed that is GST .in this system tax are direct taken by government and charge on maximum goods is same
so the people have not to run pay different taxes it is easier and give more efficient .a large number of tax increase in this system not only that it also decreases the rate of many material.
the main motive of this tax system is to make it easy for the people to paid tax and same tax for all goods .in India it is now also well not introduced but then also it increases the tax of our country and provide benefits