GST full form & meaning - explained in hindi & English

Idea of adopting Goods and Services Tax was first suggested by Atal Bihari Vajpayee Government in 2000. State finance ministers formed an Empowered Committee to create a structure of GST.


GST full form : Goods and Services Tax

GST Full form in Hindi : वस्तु एवं सेवा कर
Before learning Goods and Services Tax, first we understand how tax works in country. The government of any country needs money for functioning, tax is major source for a government for its process. In india tax is two types Direct tax, Indirect tax.

Direct tax :

Direct tax effect any individual at their income, if your income is more then 2.5 lac then you have to pay 5% tax at ₹250001-500000. This mainly effect your income.

Indirect tax :

This tax is payable to everyone who involve in any business. Like water bottle company pay tax at their every bottle of water and they increase price of bottle that we have to pay. This is not effected on individual income.

Some of these are levied by Central Government whereas some levied by state government to making this tax complicated system.

GST has been introduced to simplify indirect tax levied by center and state. By Goods Services Tax every product is pay same tax at every state and tax goes to centre government.