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GST Q&A

What is Goods and Service Tax (GST)?

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Q 1. What is Goods and Service Tax (GST)?

Ans. It is a destination based tax on consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.

 

Q 2. What exactly is the concept of destination based
tax on consumption?

Ans. The tax would accrue to the taxing authority which has jurisdiction over the place of consumption which is also termed as place of supply.

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ABOUT THE AUTHOR

Sanjay Kumar is the Founder of the GSTHelp.info Portal. He is Web Developer since 2007 and likes blogging and be creative on the Web Portal. The Blogging is just passion not profession of him. Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions.

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