Q. Please explain me the process of gst?
Accepted Answer
GST : Goods & Service Tax.
GST is an example of cooperative federalism. GST is amalgamation of taxes levied from Central govt and state govt.
GST is adopted on the concept of ONE TAX ONE NATION.
GST is implemented for Ease of Doing Business.
GST is imparted in CGST, IGST and SGST.
CGST & IGST is to be claimed by Central Govt but SGST is claimed by State govt.
You have to pay your GST by filing a single return and refund claim both. But refund has to be retrived by bith state and central govt.Ease of Doing Business for you.
answered by pearljam
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