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InterviewSolution
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State with reasons whether you agree or disagree with the following statement :The goods and services tax (GST) has replaced almost all indirect taxes in India. |
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Answer» Yes, I agree with this statement. The Goods and Service Tax (GST) came into effect in India on 1st July, 2017. GST is an indirect tax used in India, on the supply of goods and services. GST simplified the tax system in a country. GST is different from an excise or sales tax imposed on the manufacture or sale of ; a product. GST is a tax levied on supply of goods and services. GST replaced almost all indirect taxes like central excise duty, service tax, entry tax, entertainment tax, etc. Because, GST is a comprehensive tax base with nationwide coverage of goods and services. |
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