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BUSINESS

Introduction of GST

Written by  |  Saturday, 22 April 2017 00:00  |  Published in BUSINESS

An introduction of the Value Added Tax (VAT) at the Central and the State level was considered to be a major step – an important breakthrough – in the sphere of indirect tax reforms in India. If the VAT is a major improvement over the pre-existing Central excise duty at the national level and the sales tax system at the State level, then the Goods and Services Tax (GST) has a proven international record of bringing in significant improvement towards comprehensive indirect tax reforms in the country.


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