The Goods and Services Tax (GST) is a value-added tax system that is levied on the supply of goods and services in many countries around the world. It is designed to replace multiple indirect taxes such as sales tax, service tax, excise duty, and value-added tax (VAT).

                 Under the GST system, taxes are levied at each stage of the supply chain, from the manufacturer to the consumer. It is a comprehensive and destination-based tax, meaning that it is applicable to goods and services at the final point of consumption.

                  The GST system aims to simplify the tax structure, promote ease of doing business, eliminate cascading effects (tax on tax), and create a unified market by harmonizing indirect tax laws across different states or regions. It streamlines tax administration, enhances tax compliance, and reduces tax evasion.

                  Under GST, all goods and services are classified into different tax slabs based on their nature, and tax rates range from 0% to 28%. Some items may be exempted or have reduced rates, while others may attract higher rates. It is typically expressed as a percentage of the transaction value.