What do you understand by G.S.T? How good is the system of G.S.T as compared to the old tax system? State its categories.
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G.S.T. stands for Government Service Tax and this tax system has been introduced by the Indian Government recently. At first, it has been a headache for people as they were not much aware of it but slowly and gradually everyone got to know how it works.
G.S.T. is better than the old taxation system because, under this system, people need not pay for the additional taxes, which the sellers have to pay. During the earlier taxation system, the shopkeepers made their customers pay for the taxes imposed on themselves but now everything has been fixed and is under control. Customers too are fully aware of how to use their right in the case of taxation.
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