What is GST?
Goods and Services Tax (GST) is an upcoming system of taxation in India which will merge many individually applied taxes into a single tax. … GST is a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India to replace taxes levied by the central and state governments.
How GST Applied?
GST is a consumption based tax/levy. It is based on the “Destination principle.” GSTis applied on goods and services at the place where final/actual consumption happens. GST is collected on value-added goods and services at each stage of sale or purchase in the supply chain. Continue reading