Goods and Service tax

 The full form of GST is Goods and Services Tax. It is also an important tax that is imposed by central government and distributed among states. It is the consumption based tax that is collected by central government and it is the duty of producer to collect tax to their concern person. It is similar to Value Added Tax. After the implementation of GST, India became one of the countries of the world that has one nation and one tax.

After implementation of GST all other indirect taxes like Central excise tax, service tax, value added tax, entertainment tax is removed from India. It is passed by central government on 3 June 2017 under the leadership of honorable prime minister Narendra Modi.

History of GST:

The history of GST more than 30 years old. It us discussed first time in 1986 when Vishwanath Pratap Singh was the PM of India. He implement value added tax in India and presents a concept of one nation one tax but their tenure is short. So, this concept was not properly implemented in India.

When Atal Bihari Bajpayee became the PM of India in 1999. He forwarded the concept of GST and made a committee to study how GST will be implemented in India. 

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