GST GST is a destination based tax and levied at a single point at the time of con sumption of goods or services by the ultimate consumer. GST is based on the principle of value added tax
Income tax is the tax that the government takes out of income on the income of the people. …By law, every business and person is eligible to pay tax or a tax return, and they have to file an income tax return every year. Income tax is an important source of funds that the government uses to fund its activities and serve the public.
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