sometimes known as a consumption tax) imposed on the supply of goods and services in India.
It is a destination-based, multistage, comprehensive tax: comprehensive since it includes practically all indirect taxes, with the exception of a few state levies.
The GST Multi-staged tax is knowing , at each stage of the production process,
But it is also, knowing to be refundable to all parties, involve in the various stages of production except the final consumer.
As a destination-based tax, as well as it is collect from the point of consumption rather than the point of origin, as previous taxes were.
Also the GST (Goods and Services Tax) is an indirect tax levied on the provision of goods and services in India (sometimes known as a consumption tax).
It’s a multi-stage, destination-based comprehensive tax. comprehensive since it incorporates almost all indirect taxes, with the exception of a few state levies.
Also, GST is a multi-stage tax that is wilful at each stage of the manufacturing process. it is intend to be refundable to all parties involve.
in the various stages of production except the final consumer, and
It is collect at the point of consumption rather than the point of origin, as previous taxes were.
The tax took effect on July 1, 2017, when the Indian government implemented the One Hundred and First Amendment to the Indian Constitution.
The GST replaced a number of different taxes imposed by the federal and state governments.
GST Council, which is made up of the finance ministers of the federal government and as well as all states, sets the tax rates, rules, and regulations.
GST is design to change the country’s $2.4 trillion economies by replace a myriad of indirect taxes with a single tax. its also execution has been criticized.
The GST has had a positive impact on interstate travel time, which has decreased by 20% as a result of the dismantling of interstate checkpoints.
About – Best Faculty For CA Inter IDT (CA Ayushi Bansal)
CA InterI DT Faculty by Ayushi Bansal
Prof. Aayushi Bansal is one of the renowned Faculties for the Students on CA IPCC/Intermediate.
She is well-known for her innovative teaching methods.
The best part about her Teaching is that she will make you learn all Complicated Topics in Easiest way.
A teacher by Profession and Passion, she always makes sure that
Her students understand each and every concept in the best way.
She is having depth knowledge of Taxation and Teaching Taxation for a Long time. She helped to create hundreds of CA professionals and mentored countless more to make their Careers.
Her goal is to “Give Conceptual Clarity” to pupils so that they can achieve their best results in professional exams.
He is the visiting faculty of ICAI and has excellent experience teaching direct tax.