What is the Full form of GST?

Full form of GST is Good and Service Tax.
Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services.


GST is an indirect tax levied on the supply of goods and services. This law has replaced many indirect tax laws that previously existed in India.


Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%. However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual state government, as per the previous tax system.