The Goods and Services Tax is a value-added tax on goods and services sold domestically for consumption. The GST is paid by both consumers as well as the businesses selling goods and services to the government. It is a common tax used by most of the countries globally. It integrates different tax lines like Central Excise, Service Tax, Sales Tax, Luxury Tax, Special Additional Duty of Customs, etc. into one consolidated tax. It deters multiple tax layers imposed on goods and services.

With GST, the tax assesses pay a single, uniform tax on goods and services across the country. There is an elimination of the cascading effect of taxes. With the implementation of GST, it leads to a uniform tax, resulting in the creation of a common national market. It helps in reducing litigation and regulating the unorganized sector, providing a smooth assessment of tax.