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GST is an important tax reform in India which has been implemented by the Indian government. The Goods and Services Tax (GST) is a single rate, unified value-added tax (VAT) and customs duty in India. The GST has been introduced in India to replace the services tax (STT), which is one of the indirect taxes that is levied by the central or state government on imports into India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017 and came into effect on 1st July 2017.

The Goods and Services Tax (GST) was implemented on July 1st 2017. The GST has many benefits to the Indian government (including businesses) but it also comes with several challenges that the government needs to address in order to be able to keep it successful. Among these challenges are compliance with various rules and regulations, implementing the system efficiently yet intelligently, sustaining its credibility among both people of India and international investors while keeping taxes low for both them as well as their customers. In 2004, a task force concluded that the new tax structure should put in place to enhance the tax regime at the time. In 2006, Finance Minister proposed the introduction of GST from 1st April 2010 and in 2011 the Constitution Amendment Bill passed to enable the introduction of the GST law. The government of India, along with the central and state governments, conducted a series of consultations for the Goods and Services Tax (GST) in September 2014. The GST Council was formed to provide long term policy support to Indian economy. The GST (Goods and Services Tax) Act, 2017 was passed in 2015 in the Lok Sabha and 2016 in the Rajya Sabha. The GST is a tax on goods and services. This tax will be implemented in India from 1st July 2017. Existing rate of 14% for most items was revised to 18%. Now the rate for most items are 22%.. Rajya Sabha then passed 4 supplementary GST Bills and the new tax regime implemented on 1st July 2017.

GST is a value added tax that will be levied on the products and services you buy from businesses across India. You use GST when you purchase goods and services from a business in India, but you do not pay it when you purchase goods and services from other businesses in India. As a result, GST can be paid to the retailer or distributor of your product or service. You get something at a lower price than if you had purchased it directly from the business. This is called "taxation" and is usually paid by applying either Value Added Tax (VAT) or Sales Tax (ST). In any case, GST has to be paid for buying products or services that are taxed under other taxes such as VAT or ST.

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