GST Full Form stands for Goods and Services Tax, a comprehensive indirect tax levied on the supply of goods and services in India. Introduced on July 1, 2017, GST replaced multiple indirect taxes like VAT, service tax, excise duty, and more, creating a unified tax structure across the country. It is categorized into CGST (Central GST), SGST (State GST), IGST (Integrated GST), and UTGST (Union Territory GST), depending on the nature of the transaction. GST simplifies the tax process, eliminates the cascading effect of multiple taxes, and promotes transparency and ease of doing business. Applicable to manufacturers, service providers, traders, and e-commerce businesses, GST plays a vital role in the Indian economy by increasing tax compliance, improving revenue generation, and supporting the vision of "One Nation, One Tax.
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