वस्तु और सेवा कर प्रणाली

vastu aur sevā kara praṇālī
phrase★Intermediate— Goods and Services Tax system
💰Finance
technical

A comprehensive indirect tax levied on the manufacture, sale, and consumption of goods and services in India, replacing multiple state and central taxes.

वस्तु और सेवा कर प्रणाली ने व्यापारियों के लिए कर भुगतान को आसान बनाया है।

The Goods and Services Tax system has made tax payment easier for traders.

💡

Implemented in India on July 1, 2017, GST is a multi-stage, destination-based tax.

💡Pro Tip

GST Rates

GST in India is categorized into 5 rates: 0%, 5%, 12%, 18%, and 28%.

⚡Gold Rule

Legal Compliance

Businesses must register for GST if their annual turnover exceeds ₹40 lakhs (₹10 lakhs for special category states).

📖Word Origin

Derived from the English 'Goods and Services Tax' (GST), adapted into Hindi as a technical term.

📝Usage Notes

Commonly used in financial, legal, and business contexts in India. Avoid using in informal settings.

Word Breakdown

वस्तु
goods
root
+
सेवा
services
root
+
कर
tax
root
+
प्रणाली
system
root
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