A Family In Gujarat Names Kids After GST
A women in surat (Gujarat) named her three newborn daughters after “GST”.
The women is inspired by Modi government’s GST reform.
The names of her daughters are Garawi, Sanchi and Tarawi take after the initials of GST, which stands for Goods and Services Tax.
However, this is not the first time,earlier a woman had named her new born baby as “GST” because the baby was born on the day it came into force.
About Good Service Tax (GST):
GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set-off benefits at all the previous stages.
Goods and Services Tax (GST) is an indirect tax which was introduced in India on 1 July 2017 and was applicable throughout India which replaced multiple cascading taxes levied by the central and state governments.
It was introduced as The Constitution (One Hundred and First Amendment) Act 2017, following the passage of Constitution 122nd Amendment Bill.
The GST is governed by a GST Council and its Chairman is the Finance Minister of India. Under GST, goods and services are taxed at the following rates, 0%, 5%, 12% ,18% and 28%.