Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and services. The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment of the Constitution of India by the Indian government.The GST replaced existing multiple taxes levied by the central and state governments.
Implementation of a comprehensive Income Tax system like GST in India ensured that taxpayer services such as registration, returns, and compliance are transparent and straightforward through online platform by government. The businesses registered under GST have to file returns monthly, quarterly and annually based on the category of business through the Government of India's GST portal. They have to provide the details of the sales and purchases of goods and services along with the tax collected and paid.
