GST, or Goods and Services Tax, is a comprehensive indirect tax applied on the supply of goods and services. It replaced multiple other taxes, like VAT and service tax, streamlining the tax system. GST is structured as a single tax, collected at every stage of production and distribution, ensuring transparency and minimizing the cascading effect of multiple taxes.
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GST PPT Free Download: Meaning, Key Features, Types, Benefits
It’s categorized into CGST (Central GST) and SGST (State GST) when transactions occur within a state, and IGST (Integrated GST) for interstate transactions. By simplifying the tax structure, GST aims to make business operations smoother, reduce tax evasion, and boost the economy.
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Table of Content for GST PPT
- Introduction
- What is GST (Goods and Services Tax)
- Types of GST
- Key Features of GST
- Benefits of GST
- Challenges of GST
- Conclusion