GST, which stands for Goods and Services Tax, is a comprehensive indirect tax that was introduced in India on July 1, 2017. It replaced a complex system of multiple indirect taxes, such as the Value Added Tax (VAT), Central Excise Duty, Service Tax, and various other state-level taxes.

The GST system is designed to simplify the taxation structure and create a unified tax regime across the country. It is a destination-based tax, meaning that it is levied at the point of consumption rather than at the point of origin. GST is applicable to the supply of goods and services, and it is divided into Central GST (CGST) and State GST (SGST), which are levied by the central and state governments, respectively.