what is a gst and how many type in gst taxes and what is effects of accounting

full information of gst taxes

  • Vinay
  • 04 Jun
  • 24620 Views
  • 17 Answers
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Goods and Service Tax (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India. GST is one indirect tax for the entire country. Many types in GSt taxes- 1)Essential Goods and Services of GST Taxes- Essential category of goods and services are charged very lower GST rate. Essential goods and services are the goods and services for necessary items and items under basic importance. 2)Standard Goods and Services for GST Taxes- A major share of GST tax payers falls under this category of Standard Goods and Services. A standard rate of GST is charged against the goods and services under this category. 3)Special Goods and Services for GST Taxes- Under special category of goods and services, GST rates would be high. Precious metals including luxury items of goods and services fall under special Goods and Services for GST rate implementation.

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