Goods and Services Tax.

Goods and Services Tax
PERSON
The Goods and Services Tax (GST) is a value added tax to be implemented in India, the decision on which is pending. It will replace all indirect taxes levied on goods and services by the Indian Central and State governments. It is aimed at being comprehensive for most goods and services with few tax exemption. India is a federal republic, and the GST will thus be implemented concurrently by the central and state governments as the Central GST and the State GST respectively. Exports will be zero-rated and imports will be levied the same taxes as domestic goods and services adhering to the destination principle.
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FROM THE WEB.
Jason Burge performs an engine swap on a 1998 Toyota Camery XLE on Thursday, Feb. 6, 2014, at Harley's Auto Service, 430 Leitchfield Road. Governor Steve Beshear presented his tax reform plan "Kentucky Competes" Tuesday which he said will modernize the tax code and pump more revenue into the state budget. One part of the governor's tax modernization measures would apply the 6 percent sales tax to all labor related to repair and maintenance on taxable goods. "They need to live within their budget," said Del Harley, co-owner of the auto shop. (AP Photo/The Messenger-Inquirer, John Dunham)
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