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cascading effect of tax
it is said that under gst regime there will be no cascading of taxes .. but it is already in VAT this cascading effect is removed ? Then How gst is improvement over Vat in removing a cascading effect ?
Replies (2)
VAT was levied over and above Excise...... +cess + octroi+ luxury tax.........
Services and goods were separate..........
All these bought into one GST..........
But rates set by the government are nearby equal to the rates which we get by adding all indirect taxes you mentioned ..
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