Goods And Service Tax - Free Essay Examples and Topic Ideas

Goods and Services Tax (GST) is an indirect tax system that was implemented in India on July 1, 2017. It replaces multiple indirect taxes levied by State and Central governments, simplifying the taxation system. GST is a value-added tax levied on the sale of goods and services, and it is levied at every stage of production and distribution. GST has been designed to eliminate the cascading effect of tax on tax that resulted in double taxation. GST has helped businesses in reducing their tax burden, promoting ease of doing business, and ultimately contributing to the growth of the Indian economy.

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The Creation and Impact of the GST (Goods and Service Tax)

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The GST (Goods and Services Tax) proposed by the Howard government is a new tax which plans to add ten percent to the cost of every item purchased whether it be a car or a pen with only a few exceptions. The tax set to commence on July 1 2000 may still not become a reality if the senate does not have a majority vote on the issue. The VAT (Value Added Tax) of the United Kingdom is much the…

Goods And Service Tax