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Goods and Services Tax (GST) is a comprehensive indirect tax introduced in India on July 1, 2017. It replaces various indirect taxes such as Value Added Tax (VAT), Central Excise Duty, Service Tax, and others. GST is a consumption-based tax that is levied on goods and services at each point of sale or supply.
The 4 types of GST are CGST, SGST, IGST, and UTGST (Union Territory GST). UTGST is similar to SGST but is levied and collected by the Union Territories.
GST is called "one nation, one tax" as it aims to unify the country's tax system and eliminate the cascading effect of multiple indirect taxes.