“The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017. GST would be applicable on “supply” of goods or services as against the present concept of tax on the manufacture of goods or on sale of goods or on provision of services. GST avoids this cascading effect as the tax is calculated only on the value-add at each stage of transfer of ownership. It has adopted the Dual GST model in which both States and Central levies tax on Goods or Services or both.”

• SGST – State GST, collected by the State Govt.
• CGST – Central GST, collected by the Central Govt.
• IGST – Integrated GST, collected by the Central Govt.

GST is mainly technologically driven. All activities like registration, return filing, application for refund and response to notice needs to be done online on the GST Portal.