Sign In
Learn bits
Economy
Mahesh

02/07/22 06:03 AM IST

Fifth GST Day

In News 
  • The Government of India celebrated the 5th GST Day with the vision GST@5 साधन, देश के सर्वांगीण विकास का. 
GST 
  • It is a tax levied when a consumer buys a good or service. It is meant to be a single, comprehensive tax that will subsume all the other smaller indirect taxes on consumption like service tax, etc.
  • It is a single tax on the supply of goods and services, right from the manufacturer to the end consumer
  • This is how it is done in most developed countries. More than 160 countries have implemented this system of taxation.
  • GST does not tax or get into specific commodities.
Source- PIB 

More Related Current Affairs View All

08 Sep

Rajasthan’s coaching centre Bill

'The Rajasthan Coaching Centres (Control and Regulation) Bill, 2025, is a significant piece of legislation passed by the Rajasthan Assembly to regulate and oversee the state's burg

Read More

28 Aug

IADT-1

'Recently, the Indian Space Research Organisation (ISRO) successfully carried out its first Integrated Air Drop Test (IADT-1), a crucial milestone in the preparation for the countr

Read More

28 Aug

H-1B visa changes

'H-1B visa changes 2025: United States Commerce Secretary Howard Lutnick called the popular H-1B visa program a “scam”, saying that American businesses should be focuse

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps