What are the Compliances for GST in India?
Goods and Services Tax (GST) is a tax system introduced in 2017 that has replaced a total of 7 (seven) central taxation and nine state taxation. The pre-GST era was complex and fragmented, with multiple indirect taxes levied at various levels of government. At the central level, Central Excise Duty, Service Tax, and Customs Duty were imposed, and at the state level, Sales Tax, VAT (Value Added Tax), and State Excise Duty were imposed. This multiple-tax system was cumbersome and had laid down a huge burden on the taxpayer. There was also an issue of tax evasion and lack of transparency in the tax administration.