What is the role of GST in India?

What is the role of GST in India?

GST-goods and service tax, which is having a major role in indian economy.the main purpose of GST introducing in india is to eliminate cascasding of taxes inindia. ... GST-goods and service tax has had a major impact on Indian economy.the main purpose of GST is avoidance of cascading of taxes in India.

What is the motto of GST?

Just like Nehru's speech, which was delivered on momentous occasion of Indiagaining independence from British and emphasized on a new beginning for the country; at the stroke of midnight 1st July 2017, India freed itself from shackles of an obsolete tax system with implementation of GST across different states

What is the function of GST?

The Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services. In effect, GST provides revenue for the government.