The tax policy we all are familiar with since 1st July 2017 is GST, aka Goods and Service Tax. Under the GST registration, all the Indian goods and services providers register themselves for paying tax on a fixed rate of turnover.

GST has changed the entire system of taxation by eliminating several taxes, including VAT, sales tax, service tax, Octroi, Excise Duty, entertainment tax, luxury tax, and made it a single tax policy.

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