Need A Financial Product Forums Tax Savings What is the ?Goods and Services Tax’ (GST)?

This topic contains 1 reply, has 2 voices, and was last updated by  Harinder Singh 3 years, 5 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #47418

    What is the ?Goods and Services Tax’ (GST)?


    Goods and Services Tax (GST) is a tax on goods and services with comprehensive and continuous chain of set-off benefits from the producer’s point as well as the service provider’s point up to the level of the retailer. It is mainly a tax only on value addition at each stage, and a supplier at each stage is allowed to set-off through a system of tax credit mechanism. The GST is then paid on the purchase of goods and services as available for set-off on GST to be paid on the supply of goods and services. Therefore, the final consumer will bear only the GST charged by the last dealer in the supply chain with set-off benefits at all previous stages.

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.

About Us

Simplypaisa, a web initiative by Elite Wealth Advisors Ltd, has the primary objective to help readers make smart financing decisions. What is smart finance? How to make smart financing decisions to procure assets or to meet one’s personal needs? Information is critical to make smart financing decisions: be it to purchase your dream house, a car, to start a business or to enable an entrepreneur to meet his/her working capital needs.Read More...


Elite Wealth Advisors Ltd.
S-8, DDA Shopping Complex,
Near Jeevan Anmol Hospital,
Mayur Vihar Phase-1, Delhi-110091.
Phone No: 011-42445800
Email :

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.