FINAL GST (GOODS AND SERVICES TAX)

GST is a comprehensive indirect tax on the manufacture, sale, and consumption of goods and services throughout India.

GST is a comprehensive indirect tax on the manufacture, sale, and consumption of goods and services throughout India.

GST has a four-tier tax structure of 5%, 12%, 18%, and 28%, with lower rates for essential items and higher rates for luxury goods.

The implementation of GST has led to a reduction in the overall tax burden on businesses, resulting in lower prices for consumers.

GST has also simplified the tax system, reducing corruption and increasing transparency.

However, the implementation of GST has faced some challenges, including technical glitches and resistance from some sectors.

Overall, GST is expected to have a positive impact on the Indian economy, promoting growth and development.