GST is profit or loss

GST and VAT almost both are same 

Bcoz u are only paying tax on the profit u have added 

Earlier tax rate was less now more so it results high payments of taxes (28 - 14.5) = 13.5% Extra.

main advantage of GST is it has subsumed many one time taxes for which credit was not available, which resulted in high costs

so now major advantage is u can avail credit of tax everything u paid on purchases. 

Taxes Subsumed under GST

Central Taxes 

Central Excise Duty

AED

CVD & SAD

ED under the Medicianl and Toilet preparations

Service Act

SCs and Cesses

State Taxes

Sate VAT/Sales tax,Purchase tax

Entertainment tax,CST,

Octroi and Entry taxes ,Luxury taxes,tax on lottery,betting and gambling 

State SCs and Cesses 

Mahesh

For CST let us take example , plz dont assume i know only CST 

Under CST there was no Credit of tax paid on purchases 

But in VAT u can claim  Credit 

Bigger version is GST  hope this helps .