An indirect tax imposed on the goods and services is known as Goods and Services Tax (GST). It is a destination-based, multistage tax. Majority of the indirect taxes in India were subsumed by GST. On 1st July 2017, GST was launched in India. You can read about the Goods and Services Tax Act – Overview, Key Features and Criticism in the given link.
Further readings:
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Related Links |
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Taxation in India – Direct taxes & Indirect Taxes, Features of Taxation System |
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Value Added Tax – Overview, Difference between Income Tax and Limitations |
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