GST: GOOD STARTUP TAX

GST: GOOD STARTUP TAX

GST is a destination based tax and levied at a single point at the time of consumption of goods or services by the ultimate consumer. GST is based on the principle of value added tax. GST law emphasizes on voluntary compliance and on accounts based reporting and monitoring system. It is a comprehensive levy and envisages tax collection on both goods and services at the same rate.

Internationally, GST was first introduced in France and now more than 160 countries have introduced GST. Most of the countries, depending on their own socio-economic formation, have introduced National level GST or Dual GST.

India has implemented dual GST. In dual GST regime, all the transactions of supply of goods and services made for a consideration would attract two levies i.e. CGST (Central GST) and SGST (State GST).

RELATED PUBLICATION
Have Any Question | Call Us Now
+91-8076310143

REQUEST TO CALL BACK