Tuesday, 29th September, 2020, 06:13pm

GST or Goods and Services Tax came into existence in July 2017 after replacing the then-current taxation policy, GST aims at bringing the uniform tax rate throughout the country, leading to the less complex taxation system and encouraging more and more taxpayers for timely payment of tax. It is a multi-stage tax, by multistage we mean that GST imposed at every stage but is refunded to all the parties in various stages of production GST came into effect from 1st July 2017 replacing the existing taxation system.