The goods and services tax (GST) is a value added tax that applies to most goods and services sold for domestic consumption. The GST is paid by consumers,. The GST is paid by consumers, but the companies that sell the goods and services refer it to the government. Value added tax (VAT) or goods and services tax (GST), also known as indirect taxes, are consumption taxes that are charged on any value added to a product.
They are considered indirect taxes, since the tax is applied to products or services before they reach the consumer, but ultimately the consumer pays it as part of the market price before paying it to the government. This would translate into a greater amount of total taxes paid, which would be transferred to the final consumer in the form of higher costs of goods and services. The GST board is responsible for any revision or enactment of the rule or any change in tariffs for goods and services in India. The goods and services tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services.
The GST Council is a principal member committee to modify, reconcile or seek any law or regulation based on the context of the tax on goods and services in India. The goods and services tax (GST) is an indirect federal sales tax that applies to the cost of certain goods and services. Subsequently, the state legislatures of different states have passed the respective state tax bills on goods and services.