Ankush Singh
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What is Goods and Service Tax (GST)? What exactly is the concept of destination based tax on consumption?
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goalken
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ARJUN PRATAP SINGH
answered
"Dear Friend,
as far as your query is concerned let me informed regarding your query that
"It is a destination based tax on consumption of goods
and services. It is proposed to be levied at all stages right
from manufacture up to final consumption with credit
of taxes paid at previous stages available as setoff. In a
nutshell, only value addition will be taxed and burden of
tax is to be borne by the final consumer. and The tax would accrue to the taxing authority which
has jurisdiction over the place of consumption which is
also termed as place of supply"
Hope answer regarging your query was helpful to you.
Also let me know your further query.
Regards,
Arjun Pratap Singh"
