Goods and Service tax (GST) is an indirect tax levied on the sale of goods and services in India. GST is levied at every step in the production process, but is returned to all parties in the chain of producers except the final consumers. GST has replaced several cascading taxes levied by the central and state governments.
The tax rates, rules and regulations are governed by the GST council which comprises of Finance Ministers of the Central and all the State Governments. GST has simplified a large number of indirect taxes with a unified tax and is therefore expected to substantially reshape