What is GST? Write its advantages?

1.	What is GST? Write its advantages?
Answer» 1. GST (Goods and Services Tax) is defined as the tax levied when a consumer buys a good or service. 2. Removing cascading tax effect 3. Single point tax 4. Higher threshold for registration . 5. Composition scheme for small business 6. Online simpler procedure under GST 7. Defined treatment for e-commerce 8. Increased efficiency in logistics 9. Regulating the unorganized sector

Answer»

1. GST (Goods and Services Tax) is defined as the tax levied when a consumer buys a good or service.

2. Removing cascading tax effect

3. Single point tax

4. Higher threshold for registration .

5. Composition scheme for small business

6. Online simpler procedure under GST

7. Defined treatment for e-commerce

8. Increased efficiency in logistics

9. Regulating the unorganized sector

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