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What is GST in India? Goods & Services Tax Law Explained

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1. What is GST? GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a  comprehensive ,  multi-stage ,  destination-based tax  that is levied on every  value addition . In simple words,  Goods and Service Tax  (GST) is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India. GST is  one indirect tax  for the  entire country . So, before Goods and Service Tax, the pattern of tax levy was as follows: Under the GST regime, the tax will be levied at every point of sale. In case of intra-state sales, Central GST and State GST will be charged. Inter-state sales will be chargeable to Integrated GST. Now let us try to understand the definition of Goods an...
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