What Is GST? Essay

* GST is a comprehensive tax on manufacture, sale and consumption of goods and services at a national level and aimed to remove the cascading effect of tax, standardise the procedural aspect and create a single, unified Indian market to strengthen the economy. * Its effective implementation would change the tax administration and the manner […]

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Basic Vat Techniques Essay

At the retail level, sellers are charged the statutory VAT rate (currently 14% for all commodities except gold which is zero-rated so pays no VAT) and receive a rebate for the tax revenue paid on intermediate inputs. The net payment is the statutory VAT rate applied to only the value added for that commodity. This […]

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