Goods and Services Tax (GST) is a comprehensive, multi-stage tax levied on the supply of goods and services in India. Introduced on 1st July 2017, GST replaced various indirect taxes like VAT, service tax, and excise duty, creating a unified tax system. It is divided into Central GST (CGST) and State GST (SGST) or Integrated GST (IGST), depending on whether the transaction is within or between states.
GST operates under four tax slabs: 5%, 12%, 18%, and 28%. GST aims to simplify the tax structure, eliminate the cascading effect of taxes, boost compliance, and promote ease of doing business in India. Additionally, GST facilitates transparency in the tax system through a digitized platform.
Market Signals Mixed As Modi Government Completes A Year
- By Yashwant Deshmukh | 16 May 2015 11:21 AM IST
Disruptions In Parliament Or A Stuck GST Bill: What’s Bothering India Inc?
- By BOOM | 28 Aug 2015 4:31 PM IST
Lok Sabha Working Time: 6 Hours Daily, Actual Work: 1 Hour 15 Minutes
- By Sneha | 13 Dec 2016 11:16 AM IST
Will The BJP Win Cheer Dalal Street? 5 Things To Know
- By A Staff Writer | 13 March 2017 7:34 PM IST
Fact Check Alert: Are Digital Transactions Rising? Social Media's Ram Mandir Verified
- By A Staff Writer | 30 March 2017 12:27 PM IST
GST Primer: No Double Taxation If You Pay Utility Bills Through Credit Card
- By BOOM FACT Check Team | 2 July 2017 10:10 PM IST
Hoax Forward Asks You To Split Bill To Attract Lower GST While Shopping
- By BOOM FACT Check Team | 11 July 2017 6:22 PM IST
GST's Anti-Profiteering Clause Is Govt's 'Brahmastra': GST Council Official
- By Jency Jacob | 22 July 2017 1:10 PM IST
