The Goods and Services Tax is the largest tax reform being executed in India. India's tax system is very complex which makes it difficult for innovative entrepreneurs and interstate traders to follow. Due to the lack of tax transparency among consumers, some are moving away from the tax system and increasing the prices of goods. The solution was a goods and services tax. There are about 2000 indirect taxes nationally and state wide. The Goods and Services Tax (GST) is an integrated tax that replaces all of these. Excise duty is imposed at the base price of the product. There is a central sales tax on the sum of the base price and the excise tax. All these are added to the total value-added tax (VAT) of the state. The only alternative to these additional taxes is GST. The GST Council meeting held on May 18, 2017, fixed the GST tax rate for 1211 items in 98 chapters.

Prachi Garg

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