|| GST Explained ||Goods and Services Tax Explained (HINDI)

Описание: #YOUCANLEARNECONOMICS
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On 1 July 2017, Goods and Services Tax (GST) became a reality. The government hailed it as the biggest tax reform of independent India which would herald new freedom for the nation and unify it with 'One Nation One Tax'. Some of the claims made by the government were that GST would bring about ease of doing business; increase tax collection; lower inflation; increase GDP growth by 1-2 per cent; check the black economy. In other words,Goods and Service Tax (GST) is levied on the supply of goods and services. Goods and Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. GST is a single domestic indirect tax law for the entire country. An item goes through multiple change-of-hands along its supply chain: Starting from manufacture until the final sale to the consumer.
Let us consider the following stages:
Purchase of raw materials
Production or manufacture
Warehousing of finished goods
Selling to wholesalers
Sale of the product to the retailers
Selling to the end consumers
Watch also
UGC NET - PUBLIC ECONOMICS
   • UGC NET - PUBLIC ECONOMICS  

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