GST (Goods and Services Tax) is an integrated tax system, that is, many taxes already imposed in India have been removed and replaced with only one tax, GST. GST was implemented in India on 1 July 2017, since then many changes have been made in it.
The Indian Constitution had given the right to impose tax on production and services to the Central Government and the right to impose tax on the sale of goods to the State, on the basis of which everyone made taxes as per their own. In this system, many types of taxes were imposed on one commodity, sometimes a situation of tax on top of tax was created. GST has been implemented to deal with these problems. Along with the advantages of GST, it also has some disadvantages but if its disadvantages are ignored then it is known that the format of GST has been prepared in such a way that it benefits the businessmen as well as the consumers. It replaces many indirect taxes of the Central and State Governments like Value Added Tax, Central Value Added Tax, Excise Tax, Customs Duty, State Excise Duty etc.
