Question

What type of tax is Goods and Services Tax?

Answer 1

Answer:

GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc.

Service tax was an indirect tax levied by the government on services offered by service providers. Introduced under Section 65 of the Finance Act, 1994, service tax was on July 2017 replaced by Goods and Services Tax (GST), which subsumed the various types of indirect taxes.

Answer 2

Answer:

What is GST in India?

GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc