Gst essay upsc

GST simplifies taxation procedure and it applied to both Goods and services. Taxes like excise duty, service tax, VAT, luxury tax etc. will go with GST’s implementation. Under GST goods and services are taxed at following rated 0%, 5%, 12%, 18% and 28%. GST is essentially a consumption tax and is levied at final consumption point.

Goods and Services Tax (GST) for UPSC IAS Preparation. The recent report of the Union comptroller and auditor general (CAG) on the goods and services tax (GST) does praise its rollout as a landmark achievement. Notably, the revenue obtained from the GST in July 2019 stood at Rs.1.02 lakh crore.

Essay on GST in India is the most asked question in 2019. People know less about GST which make examiner include this question. Goods and services tax GST is a comprehensive, multistage destination based indirect tax that is levied on every value addition.

Essay on GST – For School Students (Class 8, 9, 10, 11 and 12 Standard) (Essay 5 – 500 Words) 1 It has cut down the cascading tax effect which is likely to bring down the net cost of goods as well 2 The online process of GST tax filing is a whole lot simpler 3 It has definitely improved efficiency as far as logistics is concerned More ...