Accounts Teacher Interview Questions and Answers

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