What is G. S. T. and its component?
*Note :- SPAM = REPORT
Share
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Answer:
GST is known as the Goods and Services Tax. It is an indirect tax which has replaced many indirect taxes in India such as the excise duty, VAT, services tax, etc. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017.
In other words,Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is a single domestic indirect tax law for the entire country
Answer:
GST it's stand for good and services tax it's is a comprehensive indirect tax that I to be levied on goods and services
two main components for gst
1. CGST ( central goods and service tax )
2. SGST ( state goods Nad service tax)