UPSC Exam > UPSC Videos > Laxmikanth for Indian Polity: Summaries, MCQs & videos > Goods & Service Tax
Goods & Service Tax Video Lecture | Laxmikanth for Indian Polity: Summaries, MCQs & videos - UPSC
|
131 videos|122 docs|68 tests
|
FAQs on Goods & Service Tax Video Lecture - Laxmikanth for Indian Polity: Summaries, MCQs & videos - UPSC
| 1. What is Goods and Services Tax (GST)? |  |
Ans. Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. It is a unified tax system that subsumes various indirect taxes, such as excise duty, service tax, and value-added tax (VAT), into a single tax regime.
| 2. How does GST work? | |
Ans. GST works on the principle of input tax credit, where businesses can claim credit for the taxes paid on inputs used in the production or supply of goods and services. It is a destination-based tax, meaning the tax is collected at the point of consumption rather than the point of origin.
| 3. What are the benefits of GST? | |
Ans. GST offers several benefits, including the elimination of cascading effect of taxes by providing input tax credit, simplification of tax structure, reduction in compliance burden, and promotion of ease of doing business. It also aims to create a unified national market, enhance transparency, and curb tax evasion.
| 4. How is GST different from the previous tax regime? | |
Ans. GST replaces the complex and multiple tax structure of the previous regime with a single tax. It eliminates the cascading effect of taxes by allowing input tax credit, reduces compliance burden through online processes, and brings uniformity in tax rates across states.
| 5. What are the different types of GST? | |
Ans. GST in India is categorized into three types:
1. Central Goods and Services Tax (CGST): Levied by the central government on intra-state supplies of goods and services.
2. State Goods and Services Tax (SGST): Levied by the state government on intra-state supplies of goods and services.
3. Integrated Goods and Services Tax (IGST): Levied by the central government on inter-state supplies of goods and services and imports.
About this Video
|
4.97/5 Rating |
|
Nov 16, 2024 Last updated |
Video Description: Goods & Service Tax for UPSC 2024 is part of Laxmikanth for Indian Polity: Summaries, MCQs & videos preparation.
The notes and questions for Goods & Service Tax have been prepared according to the UPSC exam syllabus.
Information about Goods & Service Tax covers all important topics for UPSC 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Goods & Service Tax.
Introduction of Goods & Service Tax in English is available as part of our Laxmikanth for Indian Polity: Summaries, MCQs & videos for UPSC & Goods & Service Tax in
Hindi for Laxmikanth for Indian Polity: Summaries, MCQs & videos course. Download more important topics related with notes, lectures and mock test series for
UPSC Exam by signing up for free.
Description
Video Lecture & Questions for Goods & Service Tax Video Lecture | Laxmikanth for Indian Polity: Summaries, MCQs & videos - UPSC - UPSC full syllabus preparation | Free video for UPSC exam to prepare for Laxmikanth for Indian Polity: Summaries, MCQs & videos.
Information about Goods & Service Tax
Here you can find the meaning of Goods & Service Tax defined & explained in the simplest way possible.
Besides explaining types of Goods & Service Tax theory, EduRev gives you an ample number of questions to practice Goods & Service Tax tests,
examples and also practice UPSC tests.
|
131 videos|122 docs|68 tests
|
|
Explore Courses for UPSC exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
MCQs & videos - UPSC
,Objective type Questions
,Free
,MCQs
,study material
,Goods & Service Tax Video Lecture | Laxmikanth for Indian Polity: Summaries
,Extra Questions
,Important questions
,shortcuts and tricks
,past year papers
,Exam
,Previous Year Questions with Solutions
,Viva Questions
,Semester Notes
,ppt
,MCQs & videos - UPSC
,Summary
,Goods & Service Tax Video Lecture | Laxmikanth for Indian Polity: Summaries
,Goods & Service Tax Video Lecture | Laxmikanth for Indian Polity: Summaries
,practice quizzes
,mock tests for examination
,MCQs & videos - UPSC
,video lectures
,Sample Paper
;
Study Goods & Service Tax on the App
Students of UPSC can study Goods & Service Tax alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Goods & Service Tax,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Goods & Service Tax is prepared as per the latest UPSC syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup