Accounts Teacher
Accounts Teacher Interview Questions and Answers
Updated 28 Feb 2020
Q1. What is GST. Differences between GST and VAT.
Ans.
GST is a value-added tax levied on goods and services. It replaced VAT and other indirect taxes in India.
GST is a comprehensive indirect tax that is levied on the supply of goods and services.
It is a destination-based tax, which means that the tax is collected at the point of consumption.
GST has subsumed various indirect taxes like VAT, excise duty, service tax, etc.
Unlike VAT, GST is levied on both goods and services.
GST has a multi-stage tax structure that allows for input ...read more
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