Goods and Services Tax (GST) is a value-added tax applied to the supply of goods and services in India. It is an all-encompassing indirect tax that has replaced various other taxes, including central excise duty, service tax, and state-level VAT. As a destination-based tax system, GST is collected by the state where the goods or services are ultimately consumed.

GST is categorized into three types: CGST (Central GST), collected by the central government; SGST (State GST), collected by state governments on intra-state transactions; and IGST (Integrated GST), which is levied by the central government on inter-state transactions. The tax rates under GST vary based on the type of goods or services and typically range from 0% to 28%.

Introduced on July 1, 2017, GST aims to simplify the indirect tax structure, eliminate the cascading effect of taxation, and unify the Indian market. Over time, it has become a crucial revenue source for the government.