Chapter No. 5 - Goods and Services Tax (GST): An Introduction - Unimax Publications Class 11 – 2021

• It is one indirect tax for the whole nation, which will make India one unified common market.
• Vast reform in Indian indirect taxation, the likes of which the country has not seen since Independence.
• Single Tax on both supply of goods as well as the supply of services
• The system of taxation will simplify indirect taxation for both (Tax Payer and Tax collector).
• It will reduce the complexities of the number of Taxation because GST will replace many types of indirect taxes ^{(shown as under)}
• Cascading effect of taxation removed.
• The way to do business in India will be changed by GST.
• It is a combination of 5 acts CGST, SGST, IGST, UTGST & CESS Act, 2017
• It will have a huge impact on the Indian economy and all Businesses (Big, Medium, and Small)
• GST replaced existing following multiple Indirect taxes levied by the central and state governments

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Goods and Services Tax (GST) meaning

Also Check out same articel in Hindi from the following link

Goods and Services Tax (GST) meaning – in Hindi

Chapter No. 5 - Goods and Services Tax (GST): An Introduction Unimax Publications Class 11 – 2021 - Solutions

Question wise solution of all Questions of Chapter No. 5 - Goods and Services Tax (GST): An Introduction Unimax Publications Class 11 – 2021 - Solutions are shown below: -

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