• GST is a proposed uniform indirect taxation regime throughout the country.
  • It will merge most of the existing indirect taxes into single system of taxation.
  • It is consumption based tax levied on the supply of Goods and Services which will be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method.
  • GST will be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India.
  • It was approved by The Constitution (One Hundred and First Amendment) Act, 2016.
  • It seeks to enhance fiscal federalism by removing indirect tax barriers across states and integrate the country into a common market, boosting government revenue and reducing business costs.

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