What is GST?GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India.GST is one indirect tax for the entire country.

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Priya Sharma · Accepted Answer

What is GST?GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.In simple words, Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India.GST is one indirect tax for the entire country.

What is the threshold limit of GST registration according to 32nd Meeting of GST Council?

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Consider the following statements about the GST council: 1. The GST council is the key decision-making body that will take al...

Which of the following is included while computing the value of supply of goods under GST?

Which of the following statement(s) is/are true about GST? i) Goods and Services Tax (GST) is an indirect tax levied in India...

CGST and SGST are levied as a part of which purchase?

In India, the GST is based on the dual model GST adopted in:

With the implementation of GST, the GST Council has constituted a committee to deal with the shortfall in revenue of the stat...

A shopkeeper sells a product at 12% discount on his marked price. He is rquitred to pay 10% GST. If he gives a discount of Rs...

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