The Goods and Services Tax (GST) is a value added tax that is levied on the supply of goods and services. The GST is levied on the value of the good or service at the point of sale. The GST is a consumption tax and is therefore levied on the end consumer. The GST is not a tax on businesses. businesses are only responsible for collecting the GST and for remitting the GST to the government. The GST is a federal tax and is administered by the Canada Revenue Agency (CRA). The GST is imposed on the supply of goods and services in Canada. The GST is also imposed on the importation of goods into Canada. The GST is a value added tax and is therefore levied on the value of the good or service at the point of sale. The GST is a consumption tax and is therefore levied on the end consumer.
In Canada, the goods and services tax (GST) is a value added tax of 5% on the supply of most goods and services. The GST is levied on the sale price of most goods and services in Canada.
Overall, the GST has been a positive reform for India's economy and has helped to boost growth and revenue. There have been some implementation challenges and teething problems, but these have largely been ironed out. The GST is here to stay and is likely to continue to evolve and be refined over time.