Topic Name – What is Goods and Services Tax (GST)
It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff.
In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.
The goods and services tax (GST) is a tax on goods and services sold domestically for consumption.
The tax is included in the final price and paid by consumers at point of sale and passed to the government by the seller.
Governments prefer GST as it simplifies the taxation system and reduces tax avoidance.
Critics of GST say it burdens lower income earners more than higher income earners.
Bihar Tax Consultant is among the best and experienced tax consultant in Bihar. Having the years of experience in handling corporate law matters rights from beginning. We provide our guidance on various issue of Company Law , GST Act , Income Tax Act and other corporate Area.
About Tabish Ahmad
Tabish Ahmad is an Advocate at Patna High Court works in the area of Corporate Law and Corporate Litigations. Tabish represented many clients in complex legal issues focusing on corporate compliance. As An Advocate it is the duty towards nations to make the citizen and businessmen aware about laws and compliances in order to comply as law abiding citizens.
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