Goods and Services Tax

GST is a far wide tax levied on “Supply of Goods and Services” across India. GST (Goods and Services Tax) is a Destination based Consumption tax, and the taxable event is Supply as against the present Taxable Events of Sale, manufacture or provision of service. 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 set off. In a nutshell, only value addition will be taxed and burden of the tax is to be borne by the final consumer.