GST stands for Goods and Services Tax. It is a comprehensive indirect tax levied on the supply of goods and services across India. Introduced on July 1, 2017, GST replaced multiple indirect taxes like VAT, service tax, excise duty, and others, creating a single unified tax system. Key Features of GST in India: 1. Unified Tax Structure: GST subsumes various central and state taxes into one, simplifying the tax system. 2. Dual GST Model: GST has two components: CGST (Central GST): Collected by the Central Government on intra-state supplies. SGST (State GST): Collected by the State Government on intra-state supplies. For inter-state supplies, IGST (Integrated GST) is collected by the Central Government and shared with states. 3. Destination-Based Tax: GST is levied where the goods or services are consumed, not where they are produced. 4. Input Tax Credit (ITC): Businesses can claim credit for the tax paid on inputs, reducing the cascading effect of taxes. 5. Threshold Limits: Small businesses under a certain turnover limit are exempt or can opt for a composition scheme with simpler compliance. Benefits of GST: Simplifies taxation by reducing multiple taxes to one. Promotes ease of doing business by creating a common national market. Increases transparency and accountability in tax collection. Avoids tax-on-tax (cascading effect). Boosts exports and economic growth. GST Rates: Goods and services are classified into different tax slabs — 0%, 5%, 12%, 18%, and 28%, depending on the type of goods or services. Summary: GST in India is a unified indirect tax system that replaced multiple taxes, making tax collection simpler, transparent, and more efficient. It is governed by the GST Council and administered jointly by the Central and State governments.

Goods and Services Tax (GST) in India is a comprehensive, destination-based, indirect tax levied on the supply of goods and services. It came into effect on 1st July 2017, replacing multiple indirect taxes such as VAT, Service Tax, Excise Duty, etc., with one unified system. The objective of GST is to create “One Nation, One Tax, One Market”, making compliance easier for businesses and ensuring transparency in the taxation system. Under GST, taxpayers are classified into different categories such as CGST (Central GST), SGST (State GST), and IGST (Integrated GST) depending on whether the transaction is within a state or across states. This system has streamlined the indirect tax regime, reduced tax cascading, and increased ease of doing business in India. As an advocate practicing at Patna High Court, I, Advocate Sudhakar Kumar, Founder of GulKishan Advocates Chamber, Bihar, have been consistently guiding individuals, MSMEs, and corporate entities about the legal and compliance aspects of GST. My firm, GulKishan Advocates Chamber, ensures that businesses in Bihar and across India remain GST-compliant, avoid penalties, and secure maximum benefits under the law. At GulKishan Advocates Chamber, we believe GST is not just a tax reform but a business reform. We assist clients with GST registration, return filing, input tax credit, litigation, and advisory services. Our expertise ensures that entrepreneurs, traders, and professionals can focus on business growth while leaving tax and compliance matters to us. For any GST-related assistance, you may contact: GulKishan Advocates Chamber Advocate Sudhakar Kumar, Founder Practicing at: Patna High Court Office Address: Chitkohra Bazar, Chawal Mandi, Anisabad, Patna - 2 Phone: 9334055408 / 7033335526 / 0612-2252250 Email: [email protected]

Dear Client, GST or Goods and Services Tax in India is a kind of a comprehensive indirect tax which has effectively replaced many other indirect taxes like VAT, service tax, excise duty, etc as a single tax for all such purposes. This was done to simplify the system so that issues like double taxation can be avoided. GST was introduced on 1st July, 2017, in India, and is governed by the Central Goods and Services Tax Act, 2017. This tax is specifically levied on the supply of goods and services. GST is collected where goods or services are consumed, not where they are produced. Some types of GST are CGST (Central), SGST (State), and IGST (Inter-state). I hope this answer helps. For any further queries, please do not hesitate to contact us. Thank you.