Goods and Service Tax in India Analysis and Consequences
Goods and services taxes form a broad unified tax for goods and services consumed in the economy. The GST is taken into account at all stages of the production distribution chain, with applicable compensation with respect to taxes exempt from the previous stage. In short, taxes on the final consumption. In short, GST can be defined as a tax on goods and services that can be imposed on the sale of goods or services and can be defined as a tax paid by a vendor or service provider during the purchase or service tax deduction. India is one of the largest democracies in the world and must follow the Welfare State Convention. The federal structure of this country offers a relatively strong government, centered by 28 provincial governments. They all require financial control over the state and the state. After the introduction of value added tax (VAT) in 2005, the country will test the tax on goods and services (GST) from 1 April 2013.