GST

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Solana Ecosystem

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Price
52W High price	$3.98
52W High date	6th Mar 2022 (2 years ago)
All Time High (ATH) Date	18th Oct 2024 (4 months ago)
All Time Low (ATL) Date	18th Oct 2024 (4 months ago)

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Description

GST

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GST

Goods and Services Tax (GST) is a value-added tax levied on most goods and services sold for domestic consumption. It is a single unified tax that combines multiple indirect taxes, such as sales tax, excise duty, and service tax, under a single platform. GST aims to eliminate double taxation and simplify the tax system by providing a seamless flow of credits across the supply chain. In India, GST operates on a dual structure with both Central and State Governments levying tax rates on various goods and services, categorized into different tax slabs. The GST Network (GSTN) manages the IT system for GST, handling taxpayer registration, return filing, and tax payments. Each registered taxpayer is assigned a state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN) for compliance and administrative purposes. GST has been implemented in many countries, including Canada, Australia, the United Kingdom, and India, where it effectively replaced multiple indirect taxes, enhancing economic integration and reducing tax cascading.

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