Goods and Service Taxh
Goods and Services Tax (GST) is an indirect taxation in India merging most of the existing into single system of taxation. It was introduced as The Constitution (One Hundred and First Amendment) Act 2016, following the passage of Constitution 122nd Amendment Bill.
Amalgamating several Central and State taxes into a single tax would mitigate cascading or double taxation, facilitating a common national market. The GST is governed by GST Council and its Chairman is Union Finance Minister of India.
GST is a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India (Except state of Jammu and Kashmir) , to replace taxes levied by the central and state governments.