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WHAT IS GST ?
WHAT IS GST ?
Goods and services tax means a tax on supply of goods or services, or both, except taxes on supply of alcoholic liquor for human consumption (Article 366 (12A) of Constitution of India). Some of the points are as follows:-
- GST is a value added tax levy on sale or service or both.
- GST is a destination-based consumption tax.
- GST offers a comprehensive and continuous chain of tax credit.
- GST where the burden is borne by the final consumer.
- GST eliminate the cascading effect of the tax.
- GST brings a uniform tax structure all over India.
