What is GST

GST stands for Goods and Services Tax. It is a value-added tax (VAT) that is levied on most goods and services in India.

The GST is administered by the Central Board of Indirect Taxes and Customs (CBIC) and is collected by the government at the national level. It is designed to be a comprehensive tax that replaces several indirect taxes that were previously levied by the national and state governments, including the Value-Added Tax (VAT), the Service Tax, and the Central Excise Duty. The GST is intended to create a single, unified market in India by removing barriers to trade and making it easier for businesses to operate across the country.