The goods and service tax is basically an indirect tax or a consumption tax which was imposed on the supply of goods and services in India. It came into effect from July 1, 2017. Replacing the multiple existing flowing taxes which are levied by both the central and the state government, GST replaces all of these indirect taxes with a federated tax reshaping the 2.6 trillion dollar economy of the country. Now here are7 things that you must have a knowledge about when it comes to GST- Input tax credit Since GST has a feature of matching ...
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