business class 11 indirect questions.
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All about GST
Now a days every one of you know that we are giving GST on every products. NOW HERE A QUESTION ARISE WHAT IS GST Goods and Service Tax ( GST ) is an indirect tax (or consumption tax ) levied in India on the supply of goods and services. GST is levied at every step in the production process, but is refunded to all parties in the chain of production other than the final consumer. The tax came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian government . The tax replaced existing multiple cascading taxes levied by the central and state governments. The tax rates, rules and regulations are governed by the GST Council which comprises finance ministers of centre and all the states...
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