GST stands for Goods and Services Tax. It is a consumption-based tax levied on the supply of goods and services. GST is an indirect tax system implemented in many countries around the world. It replaces multiple indirect taxes like excise duty, service tax, and value-added tax (VAT). GST is designed to simplify the tax structure, reduce tax evasion, and promote economic growth. It is levied at each stage of the supply chain, from the manufacturer to the consumer. GST rates vary for different goods and services, with some items being exempted or taxed at a lower rate. For example, in India, GST has different rates for essential items like food grains and healthcare services compared to luxury goods like cars and jewelry.

Heritage Foods Interview Questions: what is the GST

Asked in Heritage Foods ,Account Assistant

what is the GST

AnswerBot

GST stands for Goods and Services Tax. It is a consumption-based tax levied on the supply of goods and services.

GST is an indirect tax system implemented in many countries around the world.
It replaces...read more

Gopalyadav Neelapala

Good and sarvise tax

vishal bogelli birthday songs

GST means The Goods and Services Tax is a value added tax levied on most goods and services sold for domestic consumption . The GST is paid by consumers but it is remitted to the government by the bus...read more

Add answer anonymously...