What is Gst?

Question

What is Gst?

Accepted Answer

GST stands for Goods and Services Tax. It is a comprehensive indirect tax levied on the supply of goods and services.

GST is a single tax that replaced multiple indirect taxes in India.
It was implemented on July 1, 2017, with the aim of simplifying the tax structure and promoting ease of doing business.
GST is levied at every stage of the supply chain, from the manufacturer to the consumer.
It is divided into Central GST (CGST) and State GST (SGST), which are collected by the central and state governments respectively.
Integrated GST (IGST) is levied on inter-state transactions and collected by the central government.
GST has different tax rates for different goods and services, such as 5%, 12%, 18%, and 28%.
It has helped in reducing tax evasion, increasing tax compliance, and promoting a unified national market.
Example: If a manufacturer sells a product for Rs. 100 with a GST rate of 18%, the selling price would be Rs. 118.

Accepted Answer

GST means Good and Service Tax supply on product. It is started from July 2017.GST are three types such as State GST, Central GST and Integrited GST.

Accepted Answer

Good and service tax supply on product

Accepted Answer

Goodsand service Tax

Accepted Answer

GST means goods and service tax on supply on product .it is a indirect tas in India.there are 3 type CGST,SGST, and IGST.

Accepted Answer

Goods and service tax.

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