What is GST?

Goods and Services Tax was imposed in India by BJP led government under the leadership of Prime Minister Mr. Narendra Modi. It is an indirect consolidated tax imposed in India on the supply of goods and services. A taxation expert of reputed chartered accountants firm of Indirapuram – V. K. Gupta Taxation & Company says that GST is imposed at every step in the production process, but it is meant to be refunded to all parties in the various stages of production other than the final consumer.