explain GST..?
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explain GST..?
hi friends,
what is GST,anybody can explain GST..?
what is GST,anybody can explain GST..?
jerrysmith- diamond member
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Goods and Service Tax(GST)
hi friend,
Goods and Service Tax (GST) is an indirect tax which the Government of India is planning to levy on all goods and services apart from those exempted by the GST law.
Goods and Service Tax (GST) is an indirect tax which the Government of India is planning to levy on all goods and services apart from those exempted by the GST law.
Re: explain GST..?
thanks friend to clear my confusion.
jerrysmith- diamond member
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Re: explain GST..?
Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that will be levied on every value addition.
To understand this, we need to understand the concepts under this definition. Let us start with the term ‘Multi-stage’. Now, there are multiple steps an item goes through from manufacture or production to the final sale. Buying of raw materials is the first stage. The second stage is production or manufacture. Then, there is the warehousing of materials. Next, comes the sale of the product to the retailer. And in the final stage, the retailer sells you – the end consumer – the product, completing its life cycle.
To understand this, we need to understand the concepts under this definition. Let us start with the term ‘Multi-stage’. Now, there are multiple steps an item goes through from manufacture or production to the final sale. Buying of raw materials is the first stage. The second stage is production or manufacture. Then, there is the warehousing of materials. Next, comes the sale of the product to the retailer. And in the final stage, the retailer sells you – the end consumer – the product, completing its life cycle.
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