Summary
The Central Goods and Services Tax Act, 2017 is an important tax law in India that aims to simplify the country's taxation system. The Act was introduced as part of the Goods and Services Tax (GST) regime, which replaced multiple indirect taxes with a single, unified tax. The Act defines the rules for the imposition, collection, and distribution of taxes on the supply of goods and services throughout the country. It also outlines the procedures for registration, filing of returns, refunds, and other compliance-related matters. The Act has helped streamline the taxation process in India and has made it easier for businesses to comply with tax regulations.
