Essay on Goods and Services Tax (GST) by Aman Agiwal, GLC.
The introduction of goods and services tax will lead to the abolition of these taxes. This will eliminate effect of multiple taxation layers. The first step towards introducing GST is to progressively converge the service tax rate and the CENVAT rate at the same tax rate. It aims to replace Service tax, CENVAT and VAT from April, 2010.GST Essay or Essay on GST 500 Words The goods and service tax (GST) is one of the biggest economic and taxation reforms undertaken in India. Good and Services Tax (GST) is an indirect tax applicable though-out India which replaced multiple cascading taxes levied by central and state government. It was introduced as the Constitution Act 2017.Our results refer to forward. GST in Malaysia is an ugly truth. Let us emphasize two points again. First, the government has always claimed that 6% of the consumption tax will replace 16% of sales and service tax. On paper, it sounds like a good. People will think that there is a tax cut of 10%.
Goods and Services Tax - GST - is a comprehensive tax levied on manufacture, sale and consumption of goods and services at a national level. Through a tax credit mechanism, this tax is collected on value-added goods and services at each stage of sale or purchase in the supply chain.GST or the Goods and Services Tax is an indirect tax that brings together most of the taxes that are imposed on all goods and services (except a few) under a single banner. This is in contrast to the current system, where taxes are levied separately on goods and services.
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