Goods And Service Tax Essay Examples

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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