Taxation Officer Interview Questions and Answers

GST stands for Goods and Services Tax, a value-added tax levied on the supply of goods and services.

• GST is a comprehensive indirect tax that has replaced many indirect taxes in India.

• It is a destination-based tax, which means it is levied at the point of consumption.

• GST has three components - CGST, SGST, and IGST.

• It has simplified the tax structure and reduced the tax burden on businesses.

• Example: A restaurant owner used to pay VAT on food items and service tax on the bill am...read more