Goods and Services Tax (GST)
· 3 min read
Introduction
Goods and Services Tax (GST) is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. It is designed to unify the indirect tax structure in a country, simplifying the taxation process by consolidating various taxes into a single tax. GST aims to make the tax system more transparent and efficient, reducing the cascading effect of taxes and promoting economic growth.