What Is GST ?
GST Means Goods and Service tax
Objective - Simplify and unify the indirect tax regime in country and promote easy compliance.
- Gst is already Present in 140+ country in world
- It was first use in France in 1954
Two types of Gst in India
1. central Gst
2. state Gst
Central Gst Replace all central Indirect Tax
Central excise Duty
Surcharge, Education Cess, SHEC
ADC- additional duty of custom
State GST Replace all State Indirect Tax
VAT, Sales tax
Few Tax Not Cover In GST
This tax apply on consumption Site and not in manufacturing site