GST

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage.

​

Salient features of GST:

One Nation, One Tax: GST replaced multiple indirect taxes levied by the Central and State Governments, such as excise duty, service tax, value-added tax (VAT), and others. It brought uniformity in the tax structure across India, eliminating the cascading effect of taxes.

​

Advantages :

​GST's implementation unifies the tax structure across India, replacing numerous state and central taxes. This promotes economic integration, as goods and services are now taxed uniformly across the country. This integration also benefits businesses engaged in inter-state trade.