1 As we all know GST stands for “Goods and Services Tax”, and is proposed to be an extensive indirect tax levy on manufacturing, , sale and consumption of goods together with services at the national level.

2 Its main objective is to combine all indirect tax levies into a single tax, except customs (excluding SAD) in place of multiple tax levies. This helps to overcome the limitations of running indirect tax structure.

3 In the present scenario, goods and services tax is a tax which is levied on goods and services imposed at each point of sale or rendering of service.

4 Now, GST could be on entire goods and services or there could be some exempted class of goods or services.