📌 What is GST?
GST (Goods and Services Tax) is a comprehensive, multi-stage, destination-based tax levied on every value addition in India. It replaced a web of indirect taxes like VAT, service tax, excise duty, and others, streamlining the tax structure into one unified system.
🧩 Why Was GST Introduced?
Before GST, businesses had to deal with multiple taxes at the state and central levels, causing complexity, double taxation, and inefficiency. GST was introduced to:
- Remove the cascading effect of taxes
- Simplify tax compliance
- Increase transparency
- Promote a unified national market
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