Short for Goods and services tax, GST was first proposed in the year 2000 and after a total of 17 years it was implemented. It has been criticized as much as it is appreciated. While the actual impact of GST is yet to be seen because economy takes time to reflect; we can however expect it will bring good yields for all; after all it has been proposed, implemented and maintained for the benefit of all; reducing the burden of tax where it was not required and adding wherever it required to be.
The rules and regulations regarding GST keeps changing in order to be according to the contemporary context and be fruitful. Latest updates –
These are just some of the basic things decided on the meeting. The GST rules and regulations often get revisions to make them apt and according to the context.
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