What is GST?

[alenaghose]

can someone explain about gst.

 

[niyati]

GST (Goods and Services Tax) is a single-point tax which applies to the taxation of supply of goods and services in India. It abolished many taxes such as, VAT, service tax, and excise duty which made taxation system in a simpler and transparent manner.

 

[charlie]

GST primarily refers to the Goods and Services Tax, a consumption tax levied on most goods and services in many countries,.

 

[maria]

GST being a value added tax (VAT) covers most goods and services that are sold to the domestic market. It is added on top of the price of the product and the customer gets charged the amount, inclusive of the GST.