GST is the new tax regime of Indian Tax rule. This new tax rule was to stop all the other taxes and combine all of them together.
This replaces different indirect taxes like service tax, entry tax, luxury tax, central excise tax, purchase tax, value added tax, central sales tax, and advertisement tax etc. Goods and service tax council has presumed a method of implementing this new tax system. It is divided into three categories including CGST, SGST, and IGST.
This tax regime can increase employment, promotion of exports and consequently boost. That means all the overall growth of Indian economy.