Every Government needs money for the development of the country as well as meeting other expenses like payment of salaries of its employees, health, education etc. In order to meet these expenses, Centre and the State Government levies tax on the sale / purchase of goods and services within the country.
Goods & Service Tax (GST) is a single tax imposed on the supply and consumption of Goods and on service within India. It is a nation wide tax which subsumes several indirect taxes levied by the Centre and State Governments and is based on the principle of 'One Nation One Tax'
Difficulty Level
You Have Completed Key Concepts.
Difficulty Level
You Have Completed Key Concepts.