What does GST stand for?

GST stands for Goods and Services Tax.

It is a comprehensive, multi-stage, destination-based indirect tax levied on the supply of goods and services.

In the Indian context:

• Introduced on 1 July 2017

• Replaced multiple indirect taxes like VAT, Service Tax, Excise Duty, CST, etc.

• Governed primarily by:

  • CGST – Central Goods and Services Tax

  • SGST – State Goods and Services Tax

  • IGST – Integrated Goods and Services Tax (for inter-State supplies)