The (GST) Goods and Service Tax is a new taxes program that will, under its outdoor umbrella, remove the all indirect taxes that were being charged by the Govt of India. This taxation system is meant to create a single taxation system in the entire country for all goods and services. The idea behind Goods and Service Tax (GST) is to bring every business, freelance workers and professionals under a single tax program, whether they offer services or goods.
GST will replace all indirect taxes and will be levied on all goods and services. Goods and service tax (GST) is the most awaited tax reform post independence. GST intends to bring uniformity and predictable tax regime throughout the country. It allows fewer assent burdens for the businesses, transparency in transactions, increasing the tax coverage. Faster change of goods, balanced tax for goods and services. In easy words, it would introduce two-tiered One-Country-One-Tax regime.