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Goods and Services Tax is an indirect 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.
GST is an Indirect tax that was introduced in India with the aim of replacing a host of other Indirect taxes such as value-added tax (VAT), service tax, excise duty, and so on. The GST Act was passed on March 29th, 2017, and was implemented on July 1st, 2017.
Goods and Services Tax meaning: GST, or Goods and Services Tax, is a tax that customers have to bear when they buy any goods or services, such as food, clothes, items of daily needs, transportation, etc.GST concept: The concept of GST is that it is an “Indirect Tax”, ie, this tax is not directly paid by customers to the government, but is rather levied on the manufacturer.
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