Hi everyone, I’m a commerce student in India and am preparing for my board exams. I have some doubts regarding the Goods and Services Tax (GST), Can someone please help me clarify?
The key difference between GST vs VAT is that GST is levied at all stages of the production cycle right from the production to the final sale to the end customer. Whereas VAT is levied only at the last stage of sale to the end customer. This makes GST more comprehensive and wider in scope.
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