Definition
GST, or Goods and Services Tax, is a value-added tax levied on the supply of goods and services in many countries around the world. It is typically applied at each stage of the supply chain, from production to distribution to consumption, with the tax burden ultimately borne by the end consumer. GST aims to streamline the taxation system, eliminate cascading taxes, and improve tax compliance and revenue collection for the government.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.