Goods and Services Tax is an indirect tax used in India on the supply of goods and services. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.
Goods and Service Tax (GST) is paid by the consumers for the products or services. But the GST will be remitted to the government by the businesses who are providing you with those products and services.
Source Taxguru
Latest Posts in "India"
- Ahmedabad Customs Inspector Arrested for Alleged ₹2 Crore IGST Credit Fraud in Export Scam
- ISF Urges GST Cut, Women-Specific Tax Slab to Boost Formal, Inclusive Employment in India
- Punjab Software Engineer Arrested for Designing Fake GST Portal in Multi-State Tax Fraud Bust
- Supreme Court to Decide if Industrial Felt is ‘Fabric’ or ‘Machinery Part’ for VAT Purposes
- Supreme Court Rules: “Parts” Must Functionally Integrate into Machinery, Rejecting End-Use Claims














