GST The Goods and Services Tax (GST) may be a excise levied on most product and services sold for domestic consumption. The GST is paid by shoppers, however it's remitted to the govt. by the companies marketing the products and services. In effect, GST provides revenue for the govt.. GST Benefits: GST brings benefits to all the stakeholders of industry, government and the consumer. It will lower the cost of goods and services, give a boost to the economy and make the products and services globally competitive. Besides, it aims to remove the economic barriers, thus paving the way for an integrated economy at the national level. GST is also pegged to improve competitiveness and improve liquidity of the businesses. Besides widening the tax base and improving the taxpayer compliance, GST will help in improving the country’s ranking in the ‘Ease of Doing Business Index’. India i...