Goods and Services Tax (GST)

Goods and Services Tax (GST) is a single tax levied on the supply of goods and services, right from production to consumption. It replaces multiple indirect taxes previously charged by central and state governments, streamlining tax collection. GST unifies tax rates across regions, making it easier for businesses to operate and for consumers to understand pricing. It is designed to eliminate the cascading effect of taxes, promoting transparency and efficiency in the economy. Essentially, GST simplifies the tax structure, benefiting businesses and consumers alike by ensuring a more equitable tax system.