GST is levied on the supply of goods and services. The GST Law in India is a multi-stage, destination-based tax applied on every value addition. The GST is a single domestic indirect tax law that applies to the whole country.
GST has consolidated a variety of indirect taxes into a single tax, simplifying taxation for service and commodities industries.
People will benefit from a fall in prices, which will benefit businesses as consumption increases.
GST will also contribute to the development of transparent and corruption-free tax administration.
Experts think that the implementation of GST will cut the costs of goods and services in the long term. This is due to the elimination of the cascading impact of a number of VATs and levies.