What is the Meaning of GST?

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Asked by Maxabout Team 138 Rep.

What is meant by GST bill?

Naman Vashisht answered

    The GST Bill stands for Goods and Services Tax Bill is seen a s a big tax reform in India. It has been introduced by the finance ministry to simplify the system of taxation in India. The bill aims at introducing a uniform system of taxation in India.

    GST is said to replace all the indirect taxes in India as one system of reform. It is levied when a consumer buys a good or a service. The main aim of the bill is to remove the cascading effect of the taxes. This brings a uniform tax rate on the production and distribution of goods and services.

    Maxabout Team edited answer



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