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The Goods and Services Tax or GST has been launched from the 1st of July, and it is set to revolutionize the way we do our taxes.
Goods & Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that will be levied on every value addition. Currently, the Indian tax structure is divided into two – Direct and Indirect Taxes. Direct Taxes are levies where the liability cannot be passed on to someone else. An example of this is Income Tax where you earn the income and you alone are liable to pay the tax on it.

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