Importance of GST in India by Vishesh Jangir
Importance of GST in India by Vishesh Jangir Goods and Service Tax (GST) is an indirect tax in India imposed when a customer buys a good. GST is regarded as an indirect tax imposed on the sale, manufacture, buying of goods. The aim of GST is to remove all the indirect taxes imposed on goods by the Indian Central governments and State governments. The current situation of India is tha t there are taxes present at various rates and in different stages like the Centre has the taxes like Service tax, Income tax, Central sales tax, Security transaction tax etc. and on the other hand the State has entry tax, agriculture tax, property tax. The increasing of taxes at different level affecting the selling as well as the rates in domestic and in the international markets. The characteristics of Goods and Service Tax (GST) in India are as follows Vishesh Jangir: a) GST are mainly of two types Central GST imposed by the Centre and State GST imposed by the States. b) As per the recommen...