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    What is Goods and Services Tax and how is it levied?

    Answered 05-Aug-2022

    Goods and Services Tax (GST) is a destination-based tax levied on consumption of Goods and Services. As per the applicable GST laws and rules, GST is meant to be levied at every stage of the product’s lifecycle. GST ensures that tax is levied on the net value added to the product at each stage by allowing taxpayers to avail credit of tax paid at the previous stage.

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