![]() In China, GST applies only to goods and the provision of repairs, replacement and processing services.Ĭost accounting, often referred to as managerial or management accounting, is the branch of accounting that provides economic and financial information to. Most of the countries have a unified GST system.īrazil and Canada follow a dual system vis. Worldwide GST: France was the first country to introduce GST in 1. GST, being a destination- based consumption tax based on VAT principle. Integration of various taxes into a GST system would make it possible to give full credit for inputs taxes collected. ![]() Introduction of a GST to replace the existing multiple tax structures of Centre and State taxes is not only desirable but imperative. Goods and Service Tax- A detailed explanation with examples!! The exclusion of cascading effects i.
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