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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 

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