Full form of GST

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Full form of GST

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GST stands for Goods and Services Tax.

GST is a comprehensive indirect tax on the manufacture, sale, and consumption of goods and services throughout India.
It was implemented on 1st July 2017 to replace multiple indirect taxes levied by the central and state governments.
GST has three components - CGST, SGST, and IGST - which are levied at different rates depending on the type of goods or services.
GST has simplified the tax structure and made it easier for businesses to comply with tax regulations.
It has also helped to reduce the cascading effect of taxes and made goods and services more affordable for consumers.

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