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Economy & finance

GST

Goods and Services Tax: India’s tax on the supply of goods and services, introduced on 1 July 2017 in place of a long list of central and state taxes. Within a state it is split into central and state GST; on sales between states, integrated GST (IGST) applies.

Related termsUnion BudgetFiscal policy

“GST” in our stories

EconomyIndia

How GST works

One tax on goods and services, collected at every stage and credited back along the chain — with the Union and the states sharing it and deciding its rates together.

·Rational Times Explainers·2 min read