Basics of GST: (Goods and Service Tax)

Ramyasree V

Abstract: Before the implementation of GST in India, there are several indirect taxes applied on goods and services by central and state government. GST includes all these taxes in to one common structure. Which implementing GST, there are several socialist cries from all over India, this is the major issue with regard to GST. Majority of the people are unaware of this concept. Its meaning, background, how it differs from old taxation system, all are given in this paper.

Keywords: Introduction Central & State taxes History Components Objectives Benefits Exempted items Rate of commonly used items Problems-Conclusion