Category: GST System
Taxes Replaced under GST in India| With exceptions
Before understanding which taxes have been replaced by the GST in India, let us first understand the taxation system in India.†The Indian taxation system is classified into two parts namely††Direct Taxes & Indirect Taxes. Direct tax is collected by Central Government. Whereas Indirect Tax used to be†collected†by the Central and State government & local bodies. […]
What is GST System in India?
Goods and Services Tax came into effect from 1st July 2017 in India. It replaced multiple existing indirect taxes which were previously levied by the Central and State government in the country. Under this article, you will come to know about the existing GST system in India- † † † † † † † † […]