What is Goods and Services Tax?

Question

22 Jan 2025

Answer :

Word Count : 292

Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that is levied on the supply of goods and services in India. It was introduced to simplify the complex tax structure that existed prior to its implementation, which consisted of various indirect taxes like Central Excise, VAT, Service Tax, and others. GST aims to create a single, unified tax regime that eliminates the cascading effect of taxes and encourages the seamless flow __________ _______ ___ _________ _________.
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