India's GST tax reform.
On March 29, 2017, the lower house of the Indian parliament passed the reform of the Goods and Services Tax (GST) in India, and it is expected to realize the national unified Tax system from July 1.According to the data, as of 2016, the GST Tax system was used in 160 countries around the world, and most of them replaced GST with value-added Tax (VAT). Countries that use GST at this stage include Australia, Canada, Singapore, New Zealand, Malaysia, Indonesia, Pakistan, etc.In order to help students better understand GST, FDE junte has compiled some common questions about GST, hoping to be useful to you.What exactly is GST? 1GST is The Good and Services Tax, which can be understood as consumption Tax. Because it only taxes consumption, it is a value-added tax (VAT) for goods and services.Why is GST so important? 2GST was established to optimize taxes, simplify taxation and create a unified Indian market.So far, India's consumption tax is a combination of national and state taxes. Tha...
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