Interface Designer & UX Specialist.

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. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017. GST is one indirect tax for the entire country.

The registered taxpayers are mandatorily to file their returns periodically to tax administrative authorities. In their return, the taxpayer needs to disclose the details of Purchase, tax on purchase, Sales and tax on Sales of particular month. The tax liability is auto calculated in GST system and if any tax amount to be paid in cash over and above after setting off input tax credit (Tax on Purchase).