Question

Write a short note on goods servixe tax?

Answer 1

Answer:

Explanation:The goods and services tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. In effect, GST provides revenue for the governmen

Answer 2

Goods service tax:

• It is an 'indirect tax' utilised in India on the supply of 'goods and services'. This is a completely multistage destination formed tax because it has included all indirect taxes. It is one of the largest tax reforms, thereby the government launching a GST portal for existing vat and excise taxpayers.
• However, there are three types that can be described as CGST, SGST, and IGST. It is paid by the consumers but is not applicable to the very government through the business selling goods meanwhile in the process it provides income for the government.

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