The Goods and Services Tax is a value-added tax on goods and services sold domestically for consumption. The GST is paid by both consumers as well as the businesses selling goods and services to the government. It is a common tax used by most of the countries globally. It integrates different tax lines like Central Excise, Service Tax, Sales Tax, Luxury Tax, Special Additional Duty of Customs, etc. into one consolidated tax. It deters multiple tax layers imposed on goods and services.