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Goods
and
Service
Tax(GS
T)
GST
• GST is the amount of indirect tax levied by the
Central and State Government on the sale and
purchase of goods and services. It is based on
the principle of ‘One Nation, One Tax.’
• Goods: Every physical object that can be sold
for money.
• Services: Anything that cannot be seen or
touched. For example, doctors looking after
their patients, teacher at a school, etc.
Types of GST
SGST (State GST): the amount of GST collected by the
State Government.