Which Countries Collect the Goods and Services Tax (GST)?
France was the first country to implement the GST in 1954, and since then an estimated 160 countries have adopted this tax system in some form or another. Some of the countries with a GST include Canada, Vietnam, Australia, Singapore, United Kingdom, Monaco, Spain, Italy, Nigeria, Brazil, South Korea, and India.
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When was Goods & Service Tax Started in India?
India's two of the major problems are tax evasion and corruption. So, to come out of these problems a big step has to be taken by the government which is in the form of GST. India's tax system is more complex and GST will help in the simplification ...
What Is the Goods and Services Tax (GST)?
The goods and services tax (GST) is an indirect sales tax that is applied to the cost of certain goods and services. The business adds the GST to the price of the product, and a customer who buys the product pays the sales price plus the GST. The GST ...
GST Applicability & Tax Rates on Consulting Services
GST Applicability & Tax Rates on Consulting Services Introduction Goods and Services Tax (GST) was introduced in India on July 1, 2017, to create a unified tax structure. It aims to simplify the taxation process, enhance compliance, and eliminate the ...
GST Applicability & Tax Rates on Consumer Goods
GST Applicability & Tax Rates on Consumer Goods: A Comprehensive Guide Introduction Goods and Services Tax (GST) is a unified indirect tax that replaced multiple indirect taxes in India. Implemented on July 1, 2017, GST aims to streamline the ...
Benefits of goods and service tax
Hailed as one of the biggest tax reforms of the country, the Goods and Services Tax (GST) subsumes many indirect taxes which were imposed by Centre and State such as excise, VAT, and service tax. It is levied on both goods and services sold in the ...