What is GST ?

 GST stands for Goods and Services Tax, which is a value-added tax that is imposed on most goods and services sold for domestic consumption. GST is a indirect tax that is levied on the supply of goods and services and is meant to be a comprehensive, multistage, destination-based tax that is charged on every value addition. It is a consumption-based tax, meaning that it is ultimately borne by the end consumer.

The GST is a uniform tax that is levied at the same rate across a particular category of goods or services, regardless of where they are sold or produced. The main objective of the GST is to simplify the tax system by eliminating multiple cascading taxes and making it easier for businesses to comply with tax laws.

In India, GST was introduced on July 1, 2017, and replaced a number of indirect taxes that were levied by the central and state governments. The GST is divided into five different tax slabs, which range from 0% to 28%, depending on the nature of the goods or services being sold....

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