Question

What are goods and service taxes?​

Answer 1

Answer:

Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. It is a comprehensive, multistage, destination based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.

Answer 2

Goods and Services tax {GST} is an indirect tax {or conception tax} used in India on the supply of goods and services. it is a comprehensive, multistage, destination based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination based tax.it is collected from point of consumption and not point of origin like previous Taxes.