The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and services. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.
'Prime Minister will never tell you this...': Jairam Ramesh attacks Centre
In a post on X, Jairam said, "More than 40% of the wealth created in the country from 2012 to 2021 has gone to just 1 per cent of..
IndiaTimes