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The Goods and Services Tax (GST) is one of the most significant tax reforms in India’s history. Introduced on July 1, 2017, GST replaced a complex structure of multiple indirect taxes levied by the central and state governments. This article breaks down GST in a simplified manner, exploring how it works, its benefits, challenges, and what businesses and consumers need to know. What is GST? GST is a destination-based, indirect tax levied on the supply of goods and services. It is designed to unify India’s fragmented tax system and bring consistency in tax rates across states. GST is categorized into: Key Objectives of GST Benefits of GST Challenges of GST GST Rates and Categories GST is levied in different slabs: GST for Small Businesses GST and Digital India With portals like the GSTN (Goods and Services Tax Network), India is moving toward a more transparent, tech-enabled tax regime. Features like e-invoicing, QR codes, and e-way bills are driving automation and reducing tax evasion. Final Thoughts GST has been a transformative reform for India’s economy. While it brought initial challenges, it has largely succeeded in creating a more unified, transparent, and efficient tax system. With further simplification and stakeholder support, GST has the potential to fuel long-term growth for businesses and improve ease of living for consumers.