What is gst

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Renuka

Renuka (Querist)
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05 June 2017 Definition of GST

Guest

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05 June 2017 see this video. https://youtu.be/SALnvequJNw

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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03 August 2025 Hey! Here’s a simple and clear definition of GST for you:

What is GST?
GST stands for Goods and Services Tax.

It is a comprehensive, multi-stage, destination-based tax that is levied on every value addition in the supply of goods and services.

Key points about GST:
Comprehensive: It has replaced many indirect taxes like VAT, Excise Duty, Service Tax, etc., with a single unified tax.

Multi-stage: GST is applied at every stage of the supply chain, from manufacturer to consumer.

Destination-based: The tax revenue is collected by the state where the goods or services are consumed, not where they are produced.

Tax on value addition: At each stage, tax is charged only on the value added to the goods or services.

Simple definition:
GST is a single indirect tax on the supply of goods and services, right from the manufacturer to the consumer.

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