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Goods and Services tax (GST) was initiated by the government of India in 2017, on July 1st. Some previously existed textured and complicated taxes were substituted by Goods and Services Tax. The primary objective of implementing GST is to bring integrating tax system, eradicating the ripple effects of taxes and promoting a smooth flow of goods and services nationwide. OPC GST registration is also one of the prominent things in GST registration services.
The Goods and Services Tax is categorized into 4 different categories based on the locations and the nature of transactions. They are Central, State, Integrated and Union Territory (CGST, SGST, IGST, UTGST) Goods and Services tax respectively. GST allows businesses to claim credit on inputs for the paid tax and to use it on the finale output against the tax liability.
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