WHAT IS GST AND HOW GST WORKS – EXPLAINED WITH INFOGRAPHICS

What is GST?

GST or Goods and Services tax is an Indirect tax system, soon to be introduced in India. The GST tax reform was passed by both houses of parliament as the 101st Constitutional Amendment Act. With the introduction of GST India is stepping into a new dawn of taxation regimes.

What happens when GST is operational?

The new tax system will subsume indirect taxes both at central and state making India a ‘Unified Market’. With a new enthusiasm in the market GST is expected to improve India’s rank in the ‘ease of doing business index’. Introduction of GST regime will capture more market sentiments by way more investment directed to the development of the country.

Also Read: ALL YOU WANT TO KNOW ABOUT-GOODS AND SERVICES TAX OR GST

How GST works?

Selflearn team have prepared a detailed Infographics explaining how GST works? and how it is different from the present tax system in the country.Please feel free to share your thoughts or questions.We at Selflearn would be glad to help you in your preparation in case of any other query.