Introduction to GST Goods and Services Tax (GST) is a comprehensive, destination-based indirect tax levied on the supply of goods and services in India. It came into effect on July 1, 2017 , was replace multiple indirect taxes such as Excise Duty, VAT, and Service Tax, bringing uniformity in taxation across the country. Key Features of GST: Multi-Stage Tax : GST is levied at every stage of the supply chain, from manufacturer to consumer. Destination-Based Tax : Tax is collected by the state where goods or services are consumed. Dual Structure : GST has two components: CGST (Central GST) – Levied by the Central Government. SGST (State GST)/UTGST (Union Territory GST) – Levied by the State/UT Government. IGST (Integrated GST) – Levied on inter-state transactions and imports, collected by the Centre. Input Tax Credit (ITC) : Businesses can claim credit for the GST paid on purchase...