11-14-2018, 10:37 AM
The Goods and Service Tax(GST) is a comprehensive value added Tax on the supply of Goods and services.GST will replace all the indirect taxes levied on goods and services by government.The main motive of GST is to reduce the cascading effect of tax on the cost of goods and services and create a common cooperative and undivided Indian market to maker economy strong and powerful.GSt will combine Central excise duty,state VAT entertainment tax etc under one banner.It will decrease the tax rate for many goods.It will increase the efficiency in tax administration.It will increase the proximity of our tax system to the global tax system.It may boost our economy.So GST is so important today.