What is the real meaning of GST and why its important ?

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Krish Gour

1 Points Joined August 2021

i cant understand deeply in GST so please explain in GST and why its important..

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There are two types of taxes in India ie Direct Tax and Indirect Tax. Income Tax is Direct Tax levied on income earned and GST (Goods and Service Tax) is indirect tax levied on supply of goods and services. It applies on supply of every goods and services except 5 petroleum products.