GST (Goods and Services Tax) is a single-point tax which applies to the taxation of supply of goods and services in India. It abolished many taxes such as, VAT, service tax, and excise duty which made taxation system in a simpler and transparent manner.
GST being a value added tax (VAT) covers most goods and services that are sold to the domestic market. It is added on top of the price of the product and the customer gets charged the amount, inclusive of the GST.
GST, often known as value added tax, applies to the majority of products and services sold in the domestic market. It is added to the product price, and the buyer is charged for the total amount, including GST.
